Approximately a month after
MGM Resorts International unveiled its vision for gaming in Springfield, Mass., Penn National Gaming has done the same, submitting to the City of Springfield a proposal to develop an $807 million destination casino resort in downtown Springfield, it announced yesterday.
Penn National's proposal includes a Hollywood-branded casino, along with a mixed-use development along Springfield's waterfront. Specific offerings would include 3,000 to 3,500 slot machines, 80 to 100 live table games, a 20- to 30-table poker room, a hotel with 300 to 500 guest rooms, a spa, a variety of food and beverage options, a nightclub/lounge, and — unlike MGM's proposal, which does not include new meeting facilities — 30,000 to 45,000 square feet of meeting and convention space.
"Penn National's proven track record of developing first-class destination gaming and entertainment resorts in urban locations including most recently Toledo and Columbus, as well as our strong balance sheet, make us the ideal partner to usher in a renaissance for Springfield's downtown area," said Penn National Gaming Chairman and CEO Peter Carlino. "Our proposed $807 million destination casino resort will be the centerpiece of a revitalization of the city and bring thousands of new permanent jobs, significant union construction jobs and millions of tax dollars to the region."
In addition to its resort, Penn National envisions a state-of-the-art "village square" in downtown Springfield, where it promises to contribute to citywide revitalization via investment in other properties, including a new printing plant that it says will catalyze industrial park development and the historic Paramount Theater, which it wants to help refurbish.
"Hollywood Casino Springfield will offer city residents unparalleled dining and entertainment options, including potential partnerships with world class restaurateurs and an upscale nightclub venue for round-the-clock entertainment. We will also offer the community a new downtown hotel and meeting space to attract new events and commercial interest and activity to the area," Carlino continued. "Penn National is planning to create a destination resort that will strengthen the local community and provide an exciting environment that will drive visitation and keep guests coming back to Springfield. In addition, as part of our plans to revitalize the downtown Springfield area, we are committed to the development and redevelopment of existing properties in and around our proposed destination casino resort that will provide the foundation for long-term growth for the city and the region."
Massachusetts Gov. Deval Patrick signed the state's new gaming law, H. 3807 — "An Act Establishing Expanded Gaming in the Commonwealth" — on Nov. 22, 2011, after it was passed by both houses of the Massachusetts Legislature. The law creates a five-member Massachusetts Gaming Commission responsible for awarding and overseeing gaming licenses. The independent, bi-partisan commission will grant licenses for up to three casino resorts in three different regions of the state — including Springfield, in western Massachusetts.
Penn National is one of four companies pursuing bids for a casino license in Springfield. Its competitors include Ameristar, MGM and Hard Rock International.