Connecticut lawmakers are expected to announce legislation today that would allow new, smaller casinos along the state's borders with Massachusetts and New York. The Mashantucket Pequots and Mohegans, who operate tribal casinos in Connecticut, would open the smaller casinos in the proposed bill.
Mohegan Sun could promote its flagship property in Connecticut to players at a proposed casino in Revere, Mass., documents show, despite Mohegan Sun's constant denial that it would try to lure players to Connecticut, where it pays lower taxes. Mitchell Etess, CEO of the Mohegan Tribal Gaming Authority, said the marketing deals are limited to similar deals at the Revere casino. The recipient of the Greater Boston license could be determined next week, and marketing the Connecticut casino in Massachusetts is an issue Wynn Resorts Chairman Steve Wynn, whose company offers a competing proposal, has frequently brought up.
The $15.5 billion buyout offer for Harrah's Entertainment is making waves in the casino industry, and some say gaming regulators will need to adjust licensing practices, as more private-equity funds flow into the casino sector. Gaming experts this week said hotel-casino financing has been transformed by the large scale of new casino developments.
RED Development has lined up Olympia Gaming to build a 1,000-room hotel, casino and spa at RED's $500 million casino-resort being planned in Sparks, Nev., outside of Reno. The Legends at Sparks Marina project also will include 100 acres of outdoor shopping and entertainment on the area's Helms Lake.