KG Urban provides details for New Bedford casino plan to MGC

NEW BEDFORD – KG Urban has submitted financial details for its casino proposal to the Massachusetts Gaming Commission.

Application details were due Monday.

KG Urban, which is partnering with Foxwoods for a waterfront casino, would pay the city of New Bedford $12.5 million a year. It provided information saying Pennsylvania-based Gaming & Leisure Properties Inc. is prepared to fund the real property portion of the project.

KG Urban is seeking the resort casino license in southeastern Massachusetts, region C. It is competing with Crossroads, which has sought yet another extension for its Somerset plan, according to the commission, and Mass Gaming & Entertainment, which already submitted its application.

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KG Urban and Crossroads were granted extensions in March until May 4.

Meanwhile, former Foxwoods president and CEO Scott Butera has joined KG Urban, according to a letter he sent to Massachusetts Gaming Commission Chairman Stephen Crosby.

“I have spent the past six weeks working closely with the KG partners to secure funding from a national, publicly-traded gaming development partner, and assisting KG in meeting the commission’s deadline, because I am convinced this is a home run for New Bedford, southeastern Massachusetts and the entire commonwealth,” Butera wrote.

Mass Gaming & Entertainment has a referendum scheduled for May 12 for Brockton voters to weigh in on the host community agreement. The city of Brockton would be paid $10 million a year through the agreement. The casino is being proposed for the Brockton Fair Grounds property.
The gaming commission, in information on its website, said it will review KG Urban’s submittal at a future meeting, as well as Crossroads’ extension request.
The gaming commission is expected to award a license this fall for the southeastern part of the state.

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