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NEW: New Bedford Residents Vote to Back Casino Deal

Wednesday, June 24, 2015

 

New Bedford residents have voted to approve a casino referendum that will permit the operation of a gaming establishment in their city. 

According to New Bedford's City Election Office, the results of the vote on the proposed casino are 8,355 in favor and 3,040 against.

With voter approval, developer KG Urban Enterprises can now move forward and apply for the sole casino license in Southeastern Massachusetts.

Brockton and New Bedford will now compete for the third and final casino license available in Massachusetts.

Massachusetts Gaming Commission expects to announce who will be awarded the license by the end of the year.

Moving Forward

KG Urban Enterprises to continue negotiations to bring a new $650 million casino, hotel and conference center to New Bedford's waterfront.

KG Urban Enterprises has options to purchase 43 acres of land off of McCarthur Boulevard in New Bedford, which land includes the former Cannon Street power station.

KG Urban Enterprises anticipates spending approximately $50 million on the cleanup of environmental contamination at the former Cannon Street power plant site and approximately $10 million to build a harbor walk and open space along the waterfront for public use. The harbor walk will be designed to integrate with downtown businesses and attractions.

Once the casino is open for business to the general public, KG Urban Enterprises will pay $12.5 million in guaranteed Annual Payments to the city of New Bedford.

Timeline Of Events

Foxwoods signed a letter of intent to manage the New Bedford casino in March, 2015.

KG Urban Enterprises and New Bedford agreed on a full host community agreement on March 19, 2015.

Possible Competition Just Minutes From New Bedford

Twin River Casino, who has announced plans to move Newport Grand to Tiverton, has secured rights to acquire 45 acres of land there.

The chairman of Twin River’s board of directors, John Taylor, has said that the move was necessary to compete with the new casinos being built in Massachusetts.

The Tiverton facility would be located near Rt 81 and the Rt 24 interchange, just 400 feet from the state line and border with Fall River.  

The proposal is subject to voter approval.

 

Related Slideshow: New England Casinos - See Who RI is up Against

Below are major casinos that are competing with Rhode Island. Data is taken from reports issued from the Center for Policy Analysis at the University of Massachusetts at Dartmouth. 

Prev Next

Plainridge Park Casino

Plainville, MA

$225 million project to add 1,250 slot machines

Voter Approved and Under Construction

Prev Next

MGM Springfield

Springfield, MA

$800 million project to build casino

Voter Approved and Under Construction

Prev Next

Foxwoods Resort Casino

Ledyard, CT

Total Revenue: $1,064,126,046

*Annual New England Visitors: 5,923,192


*4th New England Gaming Behavior Survey distributed to only five New England states-Connecticut, Rhode Island, Massachusetts, Maine, and New Hampshire

Prev Next

Mohegan Sun

Uncasville, CT

Total Revenue: $1,150,490,165

*Annual New England Visitors: 6,533,154

*4th New England Gaming Behavior Survey distributed to only five New England states-Connecticut, Rhode Island, Massachusetts, Maine, and New Hampshire

Prev Next

Hollywood Casino Bangor

Bangor, ME

Total Revenue: $69,014,963

*Annual New England Visitors: 159,506

*4th New England Gaming Behavior Survey distributed to only five New England states-Connecticut, Rhode Island, Massachusetts, Maine, and New Hampshire

Prev Next

Oxford Casino

Oxford, ME

Total Revenue: $38,220,360

*Annual New England Visitors: 163,861

*4th New England Gaming Behavior Survey distributed to only five New England states-Connecticut, Rhode Island, Massachusetts, Maine, and New Hampshire

Prev Next

Twin River

Lincoln, RI

Total Revenue: $527,011,209

*Annual New England Visitors: 582,662

*4th New England Gaming Behavior Survey distributed to only five New England states-Connecticut, Rhode Island, Massachusetts, Maine, and New Hampshire

Prev Next

Newport Grand

Newport, RI

Total Revenue: $54,642,848

*Annual New England Visitors: 114,877

*4th New England Gaming Behavior Survey distributed to only five New England states-Connecticut, Rhode Island, Massachusetts, Maine, and New Hampshire

 
 

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