It seems Springfield has a tornado to thank for MGM Resorts International‘s interest in the city, the beginning of a seven-year quest that climaxed with the Budweiser Clydesdales leading a parade to the new megaresort. CEO Jim Murren was window-shopping the Boston market when he made a visit to post-tempest Springfield. “I admit, I lost all interest in Boston at that point. And I thought I better see whether I can help this city,” he told the Worcester Times. The result, according to the Boston Globe‘s Mark Arsenault is “It looks like no casino you’ve ever seen, as un-Vegas as Springfield itself. And that is exactly the idea.”
Murren described his vision as follows: “Travelers seeking authentic, local experiences are rediscovering small cities across
the U.S. that fuse small-town charm with the allure of big-city culture. With a 375-year legacy as a major crossroads of New England, Springfield is poised to join the likes of such hidden gems with the development of MGM Springfield leading a fresh wave of rediscovery in The City of Firsts.” (In the official press release, gambling only gets two lines, compared to six for dining and seven for art.)
As for MGM’s business plan for Springfield, it’s tantamount to ‘build it and they will come.’ Said casino prexy Michael Mathis, “We’ve got a really robust database with hundreds of thousands of customers that are loyal to us in Vegas and other markets, and we believed if we put a flagship here in western New England, we would be able to generate visitation from those existing customers as well as find new customers.”
“Each room is unique,” Global Gaming Business says of the boutique hotel. “For example, one of the priciest rooms is devoted to a celebration of the author Dr. Seuss, and includes a chandelier made up of hats. Large antique Merriam-Webster
dictionaries (published in Springfield, of course) can be found on stands.” So you’ll never at loss for superlatives when visiting MGM Springfield. While the elimination of the planned hotel tower (shown) radically changed the look of the project, construction costs nevertheless swelled from $800 million to $960 million, in part due to the forced redesign. However, given MGM’s success in the Washington, D.C., area and its ability to retain market supremacy at Borgata, there’s no reason to believe its newest trophy property won’t achieve a handsome ROI.
Massachusetts lawmakers juiced the state lottery into the 2011 casino-enabling legislation, meaning that MGM Springfield will be a point of sale for lottery tickets, keeping everyone happy. “I’m cautiously optimistic. But I never count any money until it’s in,” state Treasurer Deborah Goldberg told the Boston Herald, noting that the bottom didn’t fall out of the lottery market when Plainridge Park opened. If anything, quite the reverse. If anything, the lottery has more to fear from its lack of a mobile or online presence than from pleasure palaces like MGM Springfield.
* Cliven Bundy for governor of Nevada? Some would say it’s a sign of the Apocalypse, including Bundy himself.
* One gaming stock took a pummeling after Landing Development Chairman Yang Zhihui briefly disappeared. Between a renewed anti-corruption push in China and the scotching of a Landing casino project by Philippines despot Rodrigo Duterte, there was fertile fodder for paranoia. It was thought Zhihui had been “disappeared” by Chinese authorities. One report had him being detained at an airport in Cambodia, which Cambodian authorities denied. Zhihui also may have been sucked into an anti-corruption probe of Hong Kong‘s Huarong International Financial Holdings, Zhihui having close to Huarong’s chairman, Lai Xiaomin. Don’t expect Landing stock to resurface until Zhihui does.
* Palace Station‘s new buffet proves that value ($17.99 for dinner) and quantity aren’t incompatible. That’s the verdict of the Los Angeles Times, which sampled Las Vegas‘ newest repast, quoting an LVA review that described it as “stellar.” (Anthony Curtis does not hand out such compliments lightly.) Asian and vegetarian offerings drew particular praise. Whatever your taste, it sounds like you’ll be in serious danger of gorging yourself if you patronize Station’s new spread.
