The Mashantucket Pequot Tribal
Nation of Connecticut landed a majority investor for its commercial casino in Massachusetts, just days before a referendum on the project.
The tribe is financing 10 percent of the $1 billion Foxwoods Massachusetts. Another 35 percent is coming from other partners.
The majority, 55 percent, will be held by a new venture of Penn National Gaming Inc..
The deal came as the Massachusetts Gaming Commission issued a conditional suitability review in favor of the project.
Residents in the town of Milford will go to the polls tomorrow to vote on the project. If it's approved, the tribe and its partners must submit a final application to the commission by December 31.
The license for the eastern Massachusetts casino is expected to be awarded in early 2014.
Get the Story:
Casino supporters, foes state their case in Milford
(The MIlford Daily News 11/17)
Casino contest in Massachusetts enters stretch run; Milford vote set for Tuesday
(The Springfield Republican 11/17)
$1 Billion Foxwoods Casino Goes To A Vote Tuesday In Milford, Mass.
(The Hartford Courant 11/18)
Penn National spin-off in Mass. casino financing deal
(The Philadelphia Inquirer 11/18)
Milford Casino Vote Divides Residents
(WBUR 11/18)
Poll: Massachusetts residents overwhelmingly support casino gambling, but most don't want one in their town
(The Springfield Republican 11/18)
$P Some Opinions:
In Milford, a solid casino plan, but with some question marks
(The Boston Globe 11/16)
Joan Vennochi:
Pressure is on the Gaming Commission
(The Boston Globe 11/17)
Related Stories:
Mashantucket Tribe needs majority
partner for casino plan (11/14)