All investors willing to be awarded a license for the casino in the area of southeastern Massachusetts have a few more hours to submit their applications. The gambling officials set a deadline ending on March 16th at 5 pm. Supposedly, the next step is reviewing the applications and choosing the developer who meets regulators’ requirements.
The gambling market in the region is largely untapped and several prominent investors have already expressed keen interest in completing the project and establishing the only casino venue in the area.
Up to now, three companies have submitted their applications for building a casino in the southeastern part of Massachusetts. KG Urban, a New York-based company, is willing to build a Foxwoods casino. If their proposal is approved, the venue will be located on the New Bedford waterfront.
The second applicant is Mass Gaming & Entertainment, willing to establish a casino in Brockton. The third application was submitted by Crossroads Massachusetts and Somerset on the Move. In case they get regulators’ nod, the casino is to be situated in Somerset.
During Phase 2 of the application procedure, which ends on May 26, more details related to the proposed sites will be revealed and other more or less important specifications will be discussed.
However, the investor that is awarded a license will eventually face some competition. Although there is no other casino in the region, there is a possibility for the Mashpee Wampanoags to get federal approval, acquire land into trust and therefore, be eligible for establishing another casino in that part of the state.
People familiar with the matter revealed that the Brockton project has the highest chances of winning. What is more, an agreement for hosting community has already been reached, while Somerset and New Bedford are still in process of ironing out some details.
There is another setback for the casino establishment in the southeastern part of Massachusetts, though. The region is not expected to turn the gambling segment into a profitable business and therefore, boost the local economy. On the contrary, the future casino is believed to be the least profitable of all that are to be established within the state. Not to mention the rivalry from the states of Connecticut and Rhode Island.
Although the Brockton project is expected to get gambling officials’ approval, it will be in a close proximity to Wynn Everett – the casino that is said to be the most successful in the state.
As for the projects of New Bedford and Somerset, people with knowledge on the matter shared that neither the location nor the transportation have been well-thought-out.
Actually, if local officials are willing to invest in expanding Route 24, the residents of the southeastern part of the state will be enabled to get to the Everett casino faster and the oversaturation of the New England gambling market to be avoided or at least reduced.
