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Gambling News by Gambling Headquarters

Wednesday, August 30, 2006

More Casinos for Mashantuckets-MGM Mirage Team

 

As reported by the Rhode Island Providence Journal: "A memorandum of understanding signed this spring by the Mashantucket Pequots and MGM Mirage, the publicly traded gaming colossus, lays out a plan for possibly more casinos in southeastern Connecticut, elsewhere in Indian Country, in Atlantic City or on the Las Vegas strip. "The Mashantuckets and MGM envision, in addition to the $700-million expansion already under way at Foxwoods, the potential for more new casinos on the Connecticut reservation using MGM brand names and other nongaming, destination-resort development along Route 2 in North Stonington. "The tribe announced its intention to partner with MGM in April. The memorandum, released by the state Division of Special Revenue in response to a Freedom of Information request by The Day, includes these provisions: "The Foxwoods expansion, scheduled to open in 2008, will get an MGM brand name, probably MGM Grand. The Mashantuckets will have access to additional MGM casino hotel brand names for future expansions.

".MGM and the Mashantuckets will establish a new entity, jointly owned, that could develop casino resorts all over the country, including the Las Vegas strip. A specific 14-acre site in Atlantic City now owned by MGM is one location mentioned as a possibility.

".The National Indian Gaming Commission, which is required to approve anything considered to be a management contract with an Indian tribe, is also reviewing the Mashantucket/MGM memorandum, a spokesman said."

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