Casino Biz: Foxwoods, MGM End Licensing DealMGM Makes Move In Hopes Of Securing Project In Massachusetts |
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According to reports, MGM Resorts International will no longer have its name on a hotel tower in the Foxwoods Connecticut casino complex in a move to improve its chances of winning a bid to build a brand new casino in Springfield, Massachusetts.
The Oct. 25 press release stated: “Today the Mashantucket Pequot Tribal Nation and MGM Resorts International announced the dissolution of their previous licensing agreement for the use of the MGM Grand brand at Foxwoods Resort Casino. The parties have agreed that there will be a six-month period for Foxwoods to transition from using the MGM Grand brand.”
The Associated Press reported that MGM “wants to avoid confusing consumers.”
“The licensing agreement was signed in 2006 as MGM was looking to increase its brand recognition on the East Coast…the relationship with Foxwoods did not go beyond use of the MGM name. The tower bearing the MGM name opened in 2008 at a cost of $700 million.”
Foxwoods and Springfield are about 70 miles away from each other.
In addition to its brick-and-mortar casino moves, MGM Resorts will be a player in a future online gambling industry in the U.S. It is already licensed for online poker in Nevada and will also be involved with New Jersey web action.
MGM is in competition to build a Las Vegas-style casino in Prince George’s Country, Maryland.
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