For $600 Million mandated in the Senate legislation, you get a Slot Parlor, in spite of promises to the contrary.
For $50 Million, taxpayers get the privilege of running water to the site. Such a deal! This from a Tribe that recruited employees from overseas because they were unable to fill low wage dead end jobs locally. [See Spectrum Report prepared for the CT DOSR]
Casino developer vows to cover road fixes for project
AMHERST - Executives from the company planning to build a casino in Palmer said Monday they plan to cover all costs related to building the resort, including needed fixes to area roadways.
The announcement from Mohegan Sun officials came after a Monday article in the Gazette, which reported that the company's public relations firm, O'Neill & Associates, had not responded to questions about the project's cost or if the casino company would seek any public funds to help offset the cost of the proposed development.
"The infrastructure changes to the highways and roadways that are necessitated by the casino developer are borne by the developer," said Paul Brody, vice president of development for Mohegan Sun, in a telephone interview Monday.
Asked how much such changes would cost, he said, "They're expensive. We're working on them right now, but I would say in the range of $50 (million) to $75 million."
Infrastructure improvements, particularly those at Exit 8 on the Massachusetts Turnpike, have been identified by casino and regional officials as one of the primary changes that will need to be made to accommodate a Palmer facility. The proposed casino would be located almost directly across from the highway interchange.
In a previous interview, Brody said he expected the casino would see anywhere from 30,000 to 40,000 visitors on a busy day and some 3 to 4 million visits annually.
Mohegan Sun, the Ucasville, Conn.-based casino company, has plans to build a full resort casino, with a 600-room hotel and spa, 1,500-to-2,000-seat entertainment venue, a half-dozen restaurants, meeting center, shops and 3,000 slot machines and table games on a 152-acre property in Palmer.
On the topic of the project's total cost, Brody said a final price tag had yet to be determined. The ultimate cost will depend in part on the final legislation that emerges from a House and Senate conference committee, which is meeting now to reconcile the two bodies' respective pieces of casino legislation, he said.
"It (the casino) will certainly be at least $600 million, probably more," Brody said.
The Senate casino legislation requires a casino developer to invest at least $600 million in an individual project.
The sour economy has taken its toll on the gambling industry nationwide, Brody said, noting that Mohegan Sun has not been immune to the recession. All of Mohegan Sun's employees, from the CEO to the janitorial staff, have taken pay cuts, but the company has thus far avoided layoff's, Brody said in a previous interview.
Despite the challenges, Mohegan Sun remains economically healthy, maintaining a current debt and meeting all its banking obligations, Brody said.
He said the company's plan to build a casino in Palmer remains economically sustainable in part because of the large number of Massachusetts patrons at Mohegan Sun - 18 to 20 percent of customers there hail from the Bay State - and high level of "brand recognition" among residents here.
For $50 Million, taxpayers get the privilege of running water to the site. Such a deal! This from a Tribe that recruited employees from overseas because they were unable to fill low wage dead end jobs locally. [See Spectrum Report prepared for the CT DOSR]
Casino developer vows to cover road fixes for project
AMHERST - Executives from the company planning to build a casino in Palmer said Monday they plan to cover all costs related to building the resort, including needed fixes to area roadways.
The announcement from Mohegan Sun officials came after a Monday article in the Gazette, which reported that the company's public relations firm, O'Neill & Associates, had not responded to questions about the project's cost or if the casino company would seek any public funds to help offset the cost of the proposed development.
"The infrastructure changes to the highways and roadways that are necessitated by the casino developer are borne by the developer," said Paul Brody, vice president of development for Mohegan Sun, in a telephone interview Monday.
Asked how much such changes would cost, he said, "They're expensive. We're working on them right now, but I would say in the range of $50 (million) to $75 million."
Infrastructure improvements, particularly those at Exit 8 on the Massachusetts Turnpike, have been identified by casino and regional officials as one of the primary changes that will need to be made to accommodate a Palmer facility. The proposed casino would be located almost directly across from the highway interchange.
In a previous interview, Brody said he expected the casino would see anywhere from 30,000 to 40,000 visitors on a busy day and some 3 to 4 million visits annually.
Mohegan Sun, the Ucasville, Conn.-based casino company, has plans to build a full resort casino, with a 600-room hotel and spa, 1,500-to-2,000-seat entertainment venue, a half-dozen restaurants, meeting center, shops and 3,000 slot machines and table games on a 152-acre property in Palmer.
On the topic of the project's total cost, Brody said a final price tag had yet to be determined. The ultimate cost will depend in part on the final legislation that emerges from a House and Senate conference committee, which is meeting now to reconcile the two bodies' respective pieces of casino legislation, he said.
"It (the casino) will certainly be at least $600 million, probably more," Brody said.
The Senate casino legislation requires a casino developer to invest at least $600 million in an individual project.
The sour economy has taken its toll on the gambling industry nationwide, Brody said, noting that Mohegan Sun has not been immune to the recession. All of Mohegan Sun's employees, from the CEO to the janitorial staff, have taken pay cuts, but the company has thus far avoided layoff's, Brody said in a previous interview.
Despite the challenges, Mohegan Sun remains economically healthy, maintaining a current debt and meeting all its banking obligations, Brody said.
He said the company's plan to build a casino in Palmer remains economically sustainable in part because of the large number of Massachusetts patrons at Mohegan Sun - 18 to 20 percent of customers there hail from the Bay State - and high level of "brand recognition" among residents here.
Posts
No comments:
Post a Comment