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<h1>Developer Abandons Casino Plan in New Bedford</h1> New York-based developer KG Urban had long eyed New Bedford as a site for a waterfront casino. New Bedford city officials had negotiated an agreement that, if the casino were built, would bring in more than $12 million a year to the city coffers. And last month, New Bedford voters overwhelmingly said they wanted a casino, with more than 70% voting in favor. But the plan fell through, and KG Urban withdrew its application for the state's last casino license Wednesday, saying in a letter to the Massachusetts Gaming Commission that it was 'unable to create a viable financing package for this project.' For more information, you can check out the details on the <a href="https://toppnorskekasinoer.com/">click the up coming website page</a>. KG Urban's abrupt withdrawal is surprising, given the great deal of work that has gone into the project. CEO Barry Gorshin had indicated to the Commission and City of New Bedford officials that he was preparing a financing plan by the end of May. In a statement, New Bedford Mayor John Mitchell criticized CEO Gorshin's prior representations about funding for the project. <img src="https://upload.wikimedia.org/wikipedia/commons/thumb/2/23/Casino_slots2.jpg/800px-Casino_slots2.jpg" alt="Казино — Вікіпедія" /> Barry Gorshin, CEO of KG Urban, led everyone to believe that there was enough money to build this project, so KG Urban's decision to abandon the (casino) project is extremely disappointing and comes as a great shock," Gorshin said. We have come together as a community and have done everything in our power to support the KG casino proposal based on Mr. Gorshin's <a href="https://www.wbjournal.com/article/new-bedford-group-abandons-casino-project">commitment </a>to fully fund the project." Many observers have questioned whether the area is viable as a casino host. There are plans to build a tribal casino in Taunton, subject to federal approval, which remains a possibility. This possibility was mentioned by KG Urban in Tuesday's letter as a reason for its difficulty in raising funds. The effort to relocate the Newport Grand Slot Parlor in Rhode Island and turn it into a full-service casino, just 30 minutes from New Bedford across the Massachusetts border, also fueled concerns about saturation. With the New Bedford project off the table, there is only one casino license application in southeastern Massachusetts, in Brockton. If approved, Mass Gaming & Entertainment, a subsidiary of Midwest casino company <a href="http://casinotips.ph">casinotips.ph</a>, would be located at the Brockton Fairgrounds. The licensing process in southeastern Massachusetts has long been delayed, but is currently expected to be finalized early next year. The Gaming Commission has already issued three licenses. The Plainville slot parlor opened last month. But two other projects - Wynn Resorts' Everett casino and MGM Resorts' Springfield casino - have already faced early delays since receiving their licenses last year. Casino giant MGM Resorts International is planning an $800 million gambling resort, entertainment complex, and residential development in downtown Springfield, an ambitious project to rebuild an area severely damaged by a 2011 tornado, A draft of the company's statement on the project obtained by the Globe reveals. The MGM project will be the first urban casino proposal in Massachusetts located downtown, and is a unique project for MGM, known for its luxury hotels on the Las Vegas Strip, including the Bellagio and Mandalay Bay, quirky theme hotels, the Luxor and New York-New York. This is a unique project for MGM, which has been If a project of this magnitude comes to fruition in Springfield, a city struggling financially and plagued by high unemployment, MGM would be a legitimate contender for the only casino license in western Massachusetts. Three other reputable casino companies are preparing bids in the city, and a competing proposal is planned for Palmer. <img src="https://esquire.kz/wp-content/uploads/2022/11/casino-1051381_1280.jpg" alt="Казино перенесут? Что будет с игорной зоной в Алматинской области" /> MGM's Springfield project will be a mix of <a href="https://www.wbur.org/news/2015/07/23/nb-casino">new construction and renovation </a>of existing buildings on three city blocks and approximately 10 acres in the city's South End. The development area is located between Union and State Streets and Columbus and Main Streets, approximately two blocks from Springfield City Hall. It is adjacent to Interstate 91, a major north-south artery through Western Massachusetts. Springfield city officials are eager to accept a proposal from the casino operator to restore city finances, restore cut services, and bolster employment. Opponents of the casino, led by local churches, have promised a fierce battle to keep the gambling industry out of the city. The company intends to preserve the MassMutual headquarters building at the corner of Main and State streets as MGM's offices. The existing building at 73 State Street will house a new 25-story hotel with a spa, swimming pool, rooftop deck, approximately 89,000 square feet of gambling space with slot machines and table games, about 15 stores and restaurants, and parking for more than 3,500 cars at the It will serve as the entrance to the hotel. The company also plans to name the adjacent 130,000-square-foot retail and entertainment district, tentatively named Armory Square, with approximately 25 stores and restaurants, a movie theater, bowling alley, and outdoor stage, to be developed on the land currently occupied by the tornado-damaged South End Community Center and Howard Street The company also envisions developing on land currently occupied by the tornado-devastated South End Community Center and Howard Street School. The company said in a statement that it will bid on these lots when the city auctions them off "later this year." MGM said it controls "several parcels of land" within the proposed three-block zone and has "many others under contract," but the statement did not provide a separate list of all the properties in the development zone, nor did it mention whether any parcels MGM has failed <a href="https://nbedc.org/casino-developer-locks-up-new-bedford-waterfront-site/">to secure purchase options</a>. The development zone includes the Western Massachusetts Correctional Alcohol Center, a minimum-security residential facility under the jurisdiction of the Hampden County Sheriff. An unusual feature of the plan is that MGM also plans to build one- and two-bedroom apartments totaling about 40,000 square feet, which, according to the statement, will be marketed to "young professionals working in the revitalized downtown entertainment district." The apartments will be marketed to "young professionals working in the revitalized downtown entertainment district," according to the statement. The company has pledged not to build its own indoor entertainment facility, but instead to partner with an existing facility in Springfield to host performances. By agreeing to direct customers to its existing halls, MGM is attempting to address a common criticism of gambling resorts: that they confine customers within the walls of casinos and starve other entertainment businesses. MGM is building a new indoor entertainment facility at the corner of State and Main, formerly known as the proposes to build a pedestrian bridge to the MassMutual Center, an arena and convention facility formerly known as the Springfield Civic Center. In a statement, Jim Murren, MGM's chairman and chief executive officer, said, "Our vision is to create a new level of dining, retail, and entertainment, not only within MGM's project area, but hopefully on Main Street, throughout downtown Springfield, and elsewhere in this great city. It is rooted in a partnership that will increase tourism by raising the bar." The company said the plan will create more than 2,000 construction jobs and "thousands" of permanent jobs. MGM officials plan to present the plan at 11 a.m. at the MassMutual Center. Marlen and other executives are expected to attend. The same group of MGM executives <a href="https://www.cbsnews.com/boston/news/new-bedford-developer-drops-out-of-casino-competition/">also gathered in Massachusetts</a> in January to announce the casino development. At that time, the location was Brimfield, the budget was $600 million, and the proposal was for a rustic resort in the woods. However, MGM had second thoughts about the Brimfield site. The project required an expensive new interchange from the Massachusetts Turnpike, which required a lengthy review by highway authorities, and MGM also began to doubt whether its vision, which at the time included a golf course, would fit on a 150-acre parcel of rolling, forested hills. The company began to doubt. In March, the company announced that it had abandoned the Brimfield site and would look elsewhere in western Massachusetts. The company solemnly searched for a new site, but by early summer it seemed to have narrowed its focus to Springfield. 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