Insight MASSACHUSETTS
economic impact of our organisation on our regional community for the next generation and beyond.”
Mohegan Sun is teaming up with Brigade Capital Management to build a destination resort casino in Palmer, Massachusetts. The agreement with Brigade, a $12bn New York-based investment advisor, coincides with Mohegan Sun’s formal application for a casino license to the Massachusetts Gaming Commission.
Bruce “Two Dogs” Bozsum, Chairman of the Mohegan Tribal Council, said: “This is an important day for Mohegan Sun, for Western Massachusetts and the entire Commonwealth. Today, we take the next critical step in fulfilling our commitment to bringing new jobs and economic growth to the region. It’s our intent to be the first casino to open its doors in Massachusetts.”
Mohegan Tribal Gaming Authority CEO Mitchell Etess added: “Brigade Capital Management will be a great partner and important asset to this project. They are experienced as institutional investment partners on gaming projects in several states across the US, and understand the business that Mohegan Sun has been successful in for 16 years.”
Through this agreement, Brigade will invest capital into the corporate entity that is being established to develop Mohegan Sun’s project in Western Massachusetts. That investment will give Mohegan Sun the strongest financial platform of any casino proponent pursuing a license in Massachusetts.
MOHEGAN SUN'S PALMER PLAN “Mohegan Sun is one of the most recognised casino gaming brands in the United States and they embody the proven model of success for gaming in New England,” said Don Morgan , the Managing Member of Brigade. “This project will be built at the best location for a casino in Massachusetts, by a team with combined experience in multiple licensing jurisdictions, and managed by one of the premier gaming operators in the U.S. We are excited to be a partner in this endeavour and to have a role in establishing the Massachusetts casino gaming industry.”
Mohegan Sun is planning a world class destination casino resort in Palmer that will create thousands of jobs and bring new economic growth to Western Massachusetts. “Our project has distinct and unique advantages with regard to location, access and infrastructure. Its rural setting on 150 acres – adjacent to other large parcels that present ancillary
February 2013 PAGE 46
JIM ALLEN,
Chairman of Hard Rock International.
“We’re thrilled to be working with ESE,
who brings years of experience in the entertainment
business and the most desired
location to our company and brand.”
(Right) The Caesars Massachusetts
proposal. (Below right) The
Massachusetts
Springfield MGM plan.
MITCHELL ETESS, CEO, Mohegan Tribal Gaming Authority.
“Brigade Capital Management will
be a great partner and important
asset to this project. They are
experienced as institutional
investment partners on gaming projects in several states
across the US, and understand the business that
Mohegan Sun has been successful in for 16 years.”
development possibilities – is ideal for creating the type of gaming facility that New England patrons are familiar with and have made successful over the past two decades,” Mr. Etess said. “Moreover, our host community of Palmer has been welcoming, motivated and supportive. The community is excited about the jobs and economic development that Mohegan Sun will bring to the entire region.”
Over in the East, Las Vegas casino developer Steve Wynn said his blueprint for Massachusetts included a $1bn hotel on an old factory site along the Mystic River in Everett.
WYNN'S RIVERSIDE PROJECT The hotel is expected to have between 300 and 500 rooms, along with upscale shops, restaurants and a spa and a casino. Wynn said: “It’s going to be the fanciest hotel in the Boston area,” Wynn said. “It will have superior rooms, first-class services, shows. It will have short hallways and fast elevators. It’s going to be a big attraction. You have to create a place where people will want to go. If they gamble, they’ll find their way to the gaming tables. If this license is decided on merits, why wouldn’t I win? I would hope they would look at our track record, history of employment. Our financial profile is pretty much flawless.”
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