MGM Resorts Wants Legislators To Approve Casino In Bridgeport

MGM Resorts is pushing through with their $675-million casino proposal in Bridgeport, Connecticut. MGM Resorts International CEO James Murren visited Connecticut this week and Murren sat in front of the Bridgeport Regional Business Council.

Murren called on the legislation to support to his million-dollar casino proposal.

MGM Resorts’ casino proposal has been up in the air for months now and it battles the long standing agreement that Connecticut has with the state tribes.

In 1993, an agreement was inked by Mashantucket Pequot and Mohegan tribes that granted the two tribes the sole right to operate slots in Connecticut. In exchange, 25 percent of all slot machine revenues was to be given to the state. Since the agreement, the two tribes have contributed $7 billion to the government.

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When the regular legislative session sat this year, lawmakers voted to expand the existing casino gaming landscape and open state doors to commercial casino gambling. To move forward, MGM wants the state to hold a competitive bidding for the Bridgeport casino, since both Mashantucket Pequot and Mohegan have expressed desires to join the discussion.

Currently, MGM holds an advantage against the two tribes since it controls the best site for the development: a piece of land directly across the harbor from downtown, right off I-95. Bridgeport and New Haven have expressed support for MGM. MGM Resort argues that in the recent years, revenues from the tribal casinos have fallen from $430 million in 2007 to as low as $270 million last year. MGM Springfield is expected to open in Massachusetts in the fall of 2018. This new casino along with an increase in competition from neighbouring states will further hurt tribal casino revenues in Connecticut. The revenues generated from tribal casinos are expected to drop below $200 million per year.

MGM reiterates that if Connecticut wants to enter commercial casino gambling, MGM Resorts can offer a state-of- the-art project that will modernize the current market. The Bridgeport casino is expected to house 2,000 modern slot machines, 160 gaming tables, a hotel with 300 rooms, a 700-seater theater, and retail and restaurant outlets.

In a statement, Murren said,

I’m looking for widespread economic development in Bridgeport, not a box of slots, not a casino, but a resort development that will stimulate tourism to your state, activate multiple industries and weave together the already beautiful tapestry of arts, entertainment, retail, culture that already exists

Murren also pointed out to the legislation that he is a native of Bridgeport and his mother still lives in the area. If legislators choose to change Connecticut’s gaming laws, he intends to keep his promise to build and develop the area.

Adrian Sterne

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