MGM Plans Casino for Tornado-Ravaged City

The company's $800 million plan is to be proposed soon

   

In 2011, the city of Springfield, Mass. was ravaged by a tornado. And casino giant MGM Resorts International (NYSE:MGM) is looking to help it rebuild.

The company is expected to disclose plans for an $800 million gambling resort, entertainment complex and housing development in the downtown area of the city at some point today — a distinct setting compared to the normal Las Vegas location of many of its casinos.

MGM says the plan will create more than 2,000 construction jobs and thousands of permanent jobs — good signs for a city struggling with unemployment and finances.

Still, as many as three other casino companies are also preparing bids for the site, so the plans are far from set. No matter who builds it, though, city officials are hoping it will give the area a much-needed lift.

Some churches in the area, though, are opposed to having gambling in Springfield.

 


Article printed from InvestorPlace Media, http://investorplace.com/2012/08/mgm-plans-casino-for-tornado-ravaged-city/.

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