Mass. Casino Panel Sets Conditions For Foxwoods
BOSTON (AP) — Massachusetts gambling regulators say a group led by Foxwoods can continue its pursuit of a resort casino in Milford if it lines up the necessary financing and meets several other conditions.
The conditional suitability ruling issued Friday by the state gaming commission follows a hearing in which it was revealed that Crossroads Massachusetts had yet to secure 55 percent of the equity financing for the proposed casino that would be operated by Foxwoods.
Within hours of the panel's decision, Crossroads announced that it had signed an agreement with Gaming and Leisure Properties, Inc., to finance the proposed casino. GLPI was recently spun-off from Penn National Gaming, which is among three companies bidding for a slots parlor in Massachusetts.
The proposed casino also faces an up or down vote by Milford residents on Tuesday.
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