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SPRINGFIELD, Mass. (WGGB/WSHM) – More than five years after MGM Springfield first opened, a report surfaced in Bloomberg on Wednesday claiming the company is considering options for a sale.
While it has not been confirmed whether a potential sale is in the works, the report has already been the talk of many around town. Some people are shocked, others less so.
According to reports, the company is working with financial advisors to consider a spot sale, but nothing is certain at this time.
MGM first opened in Springfield’s South End with the promise of bringing jobs and revenue to First City.
But some, including state Rep. Angelo Puppol, say the casino doesn’t go far enough. “The turnover is huge and the leadership is inconsistent. I think the writing was on the wall that they didn’t want to come here.”
And state Rep. Bud Williams said, “Their hearts were never in it.”
However, some people are not so keen on getting cash on their last bet.
Local businessman Nadim Kashou said: . I hope this is just a rumor and not for sale. ”
While a sale doesn’t necessarily mean a disruption to operations, many companies are already looking ahead to what’s next.
Puppolo added: “Anyone who comes to this casino and makes a purchase must fulfill their obligations and respect the host city agreement. There are many cities and towns that rely on financial support, as well as surrounding areas. ” he added.
One such community, Ludlow, received about $30,000 from the Massachusetts Gaming Commission in June.
“It was a huge help. We were able to buy things that we couldn’t afford,” said Ludlow Police Chief Daniel Valadas. What the Casino Mitigation Fund means to us is primarily a traffic calming device. Last year they reimbursed me a certain amount for my officer training. ”
And Ludlow isn’t the only one getting financial help. Mr. Chicopee, Mr. Agawam, Mr. Holyoke, and many others have also benefited.
As for what happens from here, many of the city leaders we spoke to said that for now, it’s a matter of waiting to see if anything comes of these reports.
Meanwhile, an MGM spokesperson said the company does not comment on rumors.
Copyright 2024. Western Mass News (WGGB/WSHM). All rights reserved.
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