The state government of Massachusetts being desperate for more revenues is going approve some new bills in its next formal session which is expected to begin on January next. And with this legislation issue Mitchell G. Etess, the chief executive officer and president of the Mohegan Sun casino in Uncasville, Connecticut has assured that they are on the track of their plan to build a resort casino at Massachusetts Turnpike Exit 8.
Recently Mohegan Tribal Gaming Authority’s credit rating has been downgraded by Moody’s Investors Service. They have done this because they found that it would be difficult for casino operators in Pennsylvania and Connecticut to restructure debt without the help of the bondholders.
Because of this decrement in the credit rating of Mohegan Sun team, they had to reassure their plan to build the new resort casino at Massachusetts. Besides, in the Pioneer Valley competition among casinos is increasing day by day.
During a public holiday party on Thursday at the authority’s Palmer office Bruce Bozsum, chairman of the Mohegan Tribal Gaming Authority said
Due the recession casino business is hurt to some extent but the Palmer is a great location for the casino. The casino which is going to be built at Massachusetts Turnpike Exit 8 would have a restaurant and bar, a spa and hotel, retail and meeting space, live entertainment and a night club. There are about 4.4 million people in the nearest area of the casino location which would make the business a success. And the state government will earn $150 million every year as gaming taxes from the casino and 27% tax on slot machine.
The vice president of development for the tribal gaming community has said that they are taking necessary steps to reshape their corporate debt and he thinks the low credit rating will not have 카지노커뮤니티 any significant effect on their ability to build the resort casino at Massachusetts Turnpike Exit 8 for which the budget has been estimated as $600 million.
State lawmakers have been talking about finding common ground of casino legislation which is expected to be approved in the next session of Massachusetts Legislature that is going to be held on January next.
Previously casino business was illegal in Massachusetts. In the last formal session of Massachusetts Legislature which ended on July 31, 2010, state lawmakers passed a bill in which they approved the construction of three casinos and two slot machine parlor. One of the three casinos will be built in Western Massachusetts and slot machine parlors at racetracks.
House Speaker DeLeo, was interested in approving slot machines but due to opposition of Patrick it did not succeed. Patrick disagreed to the bill and refused to sign it. But a group of legislators are proposing to approve the bill of building temporary slot machine parlors which will be owned by the state.
One of the state slot machine parlors could be approved to run at MassMutual Center, which is a property of the state Convention Center authority, stated by Anthony W. Ravosa, a former Springfield city councilor and a principal in Paper City Development.
But Mohegan Sun team is not interested in short term plan rather they want to a long term plan from the state government.
A holiday reception party was arranged by Mohegan Sun on Thursday evening. Distinguished professionals and loyal local supporters of Mohegan Sun attended the ceremony.
In the reception Robert Young, a spokesman for Palmer Businesses for Palmer Casino talked about his expectation to see DeLeo and the governor to work out their problems and find a solution. He hopes that Mohegan Sun team will definitely be successful in making their dream come true.