Springfield officials are asserting their commitment to safeguarding the city’s interests amidst speculation surrounding a potential sale of the MGM casino, a cornerstone of the local economy.
Reports emerged three weeks ago suggesting MGM Resorts International might be considering divesting its casinos in Springfield, Massachusetts, and Ohio. Bloomberg News revealed that MGM had engaged financial advisers in “preliminary” discussions regarding the matter.
In response, Springfield Mayor Domenic Sarno promptly scheduled a meeting with MGM Resorts International CEO and President, Bill Hornbuckle. Although the meeting has concluded, Sarno’s office stated that further discussions are anticipated, describing the situation as an “ongoing process.”
Mayor Sarno reiterated his commitment to uphold the city’s host community agreement regardless of any change in ownership in conversation with WAMC. “If – and if – a sale does go through with MGM – for anything that is not adequate to come to the city of Springfield – of course, I’m going to enforce that ironclad host community agreement,” the mayor stated.
The host community agreement, established prior to the opening of MGM Springfield in 2018, has ensured significant financial benefits for the city. According to reports, MGM has contributed about $107 million in taxes to Springfield since its inception.
Any potential sale of the casino would be subject to scrutiny by the Massachusetts Gaming Commission (MGC). City officials emphasized that any new owner would be bound by the existing community agreement, although modifications could be sought through petition.
Springfield State Senator Adam Gomez expressed confidence in the robustness of the host community agreement, stating: “I think that we have an ironclad host community agreement, that I think it would be hard for the city to ‘take the L.'”
While concerns have been raised among local lawmakers over the potential implications of a sale, Springfield City Council President Michael Fenton underscored the importance of maintaining the integrity of the existing agreement.
“What I’ve learned is that it’s not real until it’s real and, if and when, MGM would like to present to the city and our stakeholders a proposal to, in some way, amend the host community agreement, or replace MGM with another operator, we would, as we would all serious proposals from MGM, entertain that proposal and review it in good faith,” he said.
Original article: https://www.yogonet.com/international/noticias/2024/04/10/71673-springfield-officials-vow-to-uphold-community-agreement-amid-speculation-of-mgm-casino-sale
