Genting: We bombed in Miami; Jockeying for position in Massachusetts

Genting MiamiIt took almost no time at all for Genting Group’s latest Miami proposal to draw heavy political criticism. State Sen. Gwen Margolis (D), who represents the area, thinks a slot parlor is too downscale for the neighborhood. She also points out that essentially lending Gulfstream Park‘s parimutuel license to Genting in order to get around current limitations on casino expansion imperils the state’s revenue-sharing arrangement with the Seminole Tribe. The reliability of that Seminole welfare stream ought to keep lawmakers happy for a good long while. As for Genting, the consensus seems to be that this will be its third — and last — attempt to breach the Florida market.

Up in Massachusetts, just when it looked like Mohegan Sun was the sensible casino developer it proposed this turkey: a nonsensical proposal to narrow traffic heading into the Ted Williams Tunnel to a single lane. Considering that Mohegan Sun’s Suffolk Downs racino is supposed to increase traffic, you’ve got to wonder what’s in the drinking water at Mohegan Tribal Gaming AuthorityEast Boston City Councilor Sal LaMattina calls the proposed constriction of “the Ted” “ridiculous” and, from the looks of it, we have to agree.

WalshBoston Mayor Martin J. Walsh, meanwhile, is extending a covetous hand toward both Suffolk Downs and Wynn Everett, insisting that Boston is a “host community” for both. Walsh’s endgame isn’t to kill either project but to get as many benjamins for Boston as he can. Mohegan Sun bought itself some time by laying a chaotic document dump on Beantown at the last possible moment. That’s a good way to keep Walsh at arm’s length. In the meantime, we have have gotten the most ludicrous “surrounding community” supplication yet. Out west, Northampton has filed for a piece of the MGM Springfield action — despite being 20 miles away! Since Northampton doesn’t have proximity in its favor, it is going to cite the “likely to experience impacts” clause for defining a surrounding community.

Northampton officials complain that MGM has blown them off. That’s a different tune than the one being sung in surrounding community West Springfield. There, city fathers are “impressed” with MGM’s “solid grasp” of economic-impact issues.

While the Massachusetts Gaming Commission struggles with over 30,000 pages of supporting documentation from Mohegan Sun and Wynn steve-wynn-1Resorts, both companies may be reaping not-so-hidden benefits from the regulatory process. Wynn got a markdown on his desired land after ties between its ownership and organized crime were uncovered. And Suffolk Downs has been able to transfer the cost of building its $1 billion racino to Mohegan Sun — as opposed to lugging Caesars Entertainment around as a penurious minority investor: a name, a database and a measly 4% equity contribution. (And yes, Suffolk Downs will be cannibalizing some of the paddock.)

Meet the new boss. When Penn National Gaming cloned itself as Gaming & Leisure Properties, it bumped Tim Wilmott up to CEO of GLPI. That means that Jay Snowden is now point man at Penn National, where he has been named COO. A veteran of regional operations for Penn and Caesars, Snowden looks at first glance like the man for the job.

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