Massachusetts does not currently have a casino licensed to run inside of the state. However, that is all set to change soon as the brand new MGM Springfield Casino is set to open. With many of the same features you are going to find in Las Vegas, if you live in the area and enjoy gambling, or are simply looking around for something new and exciting to do, the MGM Springfield is there, ready for you. You just need to now what it is able to offer you.
As of right now, the MGM Springfield is going to cost around $800 million to construct and the large complex, which is going to not only be a casino but a hotel, shopping complex and entertainment district is going to cover 14/5 acres through the downtown region of Springfield. This is one of the regions of the city heavily hit with job loss during the recent economic downturn, so the hope is to bring new jobs and money into the area through the development of the large casino. There are a number of historic buildings the casino is planning on reusing, or at lease remodeling, when constructing the casino. This way, it is still going to have a somewhat familiar feel to the building, yet also provide something new as well. For individuals who are not interested in gambling, the MGM Springfield is also going to feature a public plaza with an ice skating rink, bowling alley and movie theater.
In terms of the economic impact, it is believed the MGM Springfield is going to employe around 2,600 temporary construction workers throughout the course of construction. It is also going to bring in at least 3,000 additional employees to work the entire casino and the rest of the facility. It is also going to bring in a large amount of money for the local government as well, with MGM paying the city of Springfield $15 million up front and another $25 million paid every year, not to mention an additional $2 million to eight different surrounding communities up front and another $1.5 million paid out every year to these different communities. MGM is also stating it is going to purchase at least $50 million in products, services and goods from local businesses as well, so local businesses should see an improvement in business thanks to the new casino.
As of right now, it is believed the construction is going to take around two years to complete. It also has a large number of fees to pay to the state of Massachusetts Gaming Commission as well. Right now, it is believed the casino needs to pay up to $85 million for state licensing fees, although the commission is looking to offset this and allow MGM to pay this over time. Currently, MGM has paid around $5 million for the assessment of the gambling license, although it is still waiting on official approval from the state to go ahead with construction.