Two major real estate executives have joined the team that had proposed the construction of casino in Somerset, a town in Southeastern Massachusetts. However, it was announced that the bid would need a bit more time and this is why its development team asked the state Gaming Commission for yet another extension of the application deadline.
The Massachusetts Gaming Commission has repeatedly pointed out that it would like to be able to choose among two or more casino bids, so as to make sure that the best proposal would win the only casino license for the above-mentioned region. The construction of a Category 1 gambling venue (a casino resort) on the territory of the so-called Region C is considered to be crucial, as it will certainly create a significant number of new jobs in a place where the unemployment rate is extremely high.
Earlier this week, the proponents of the Somerset project were joined by James Karam, a real estate developer with properties in the Fall River area and a former president of the board of trustees at the University of Massachusetts, and Scott Butera, a former CEO of Foxwoods Resort Casino.
Both Karam and Butera will work together with Somerset on the Move, LLC and Crossroads Massachusetts, LLC, the two business entities that are in charge of the multimillion project for the establishment of a Category 1 casino in Somerset.
A few days ago, the Somerset group sent a letter to the Gaming Commission, asking for a 21-day extension of the application deadline, so as for more investors to be attracted.
It seems, however, that the Somerset project is not the only one that needs a bit more time. Earlier this week, KG Urban Enterprises, the company that proposed a $500-million gambling venue in New Bedford, sent its own letter to the state gambling regulator, in which it requested a 45-day extension.
Members of the Massachusetts Gaming Commission will meet today to decide whether they will extend the application deadline once again. Somerset and New Bedford representatives are expected to attend the meeting, as well.
Previously, the deadline was set for January 30, but KG Urban asked for an extension. The state gaming regulator gave casino bidders until March 16 to submit their applications.
Mass Gaming & Entertainment, LLC, the business entity that proposed to build a $650-million gambling venue in Brockton, was the only bidder to complete its application before the March 16 deadline expired.
