MGM Resorts Maybe Developing Waterfront Casino In Connecticut

The state of Connecticut had approved a third tribal casino that would be jointly developed by the Mohegan and Mashantucket Pequot tribes in order to prevent Connecticut gamblers from crossing the state border into Massachusetts and heading over to the MGM Springfield casino which is currently under development.

MGM Resorts was not very pleased to learn that Connecticut had approved a third tribal casino as MGM Springfield was banking on attracting thousands of gamblers from Connecticut. MGM Resorts initially tried to find legal loopholes against the state of Connecticut and took them to court but the lawsuit was eventually dismissed.

MGM Resorts has now decided to embrace Connecticut and has proposed to build a $675 million waterfront casino in Bridgeport. Current gambling legislation does not permit MGM Resorts to develop a new casino as Connecticut has signed an exclusive gambling compact with the tribes. However, Connecticut is struggling economically as some of the biggest companies in the state such as Aetna, General Electric and Alexion have all decided to move out of state leaving thousands of locals without jobs.

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Connecticut is also having issues raising sufficient funds for its budget and the MGM Bridgeport proposal brings solutions to all of these problems. MGM Resorts has conducted a study which shows that the Bridgeport project will create 2,000 permanent jobs and an additional 5,000 temporary jobs in construction. It will also generate $50 million in licensing fees during this fiscal for the state and provide Bridgeport with $8 million in funding each year. Neighboring communities will also benefit as they stand to get $4.5 million which will be used for their development.

The MGM Bridgeport project will include an entertainment complex, a casino that has 160 table games, 2,000 slot machines, a 700 seat theatre and a 300 room hotel complex. There will also be restaurants and retail outlets spread across the complex. MGM stated that if it received the necessary approval, construction work will commence within a 12 month period and the facility will be opened to the public in 2021.

Bridgeport Mayor Joseph Ganim backed MGM’s proposal as it would provide his city with an economic boost and bring in more tourists which local businesses could cater to. However the Mohegan and Mashantucket Pequot tribes labeled MGM’s proposal as a pipe dream stating that they had an exclusive compact with the state and if that were to be broken, they would immediately stop making payments to the state which amounts to hundreds of millions each year.

Adrian Sterne

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