A news report says the owner of MGM Springfield is considering selling the 5-year-old property.
Bloomberg reported Wednesday afternoon that MGM Resorts International is “exploring” that sale, as well as the sale of an Ohio casino.
The news service cited as its source “people with knowledge of the matter.”
The Republican has a request for comment in to MGM Springfield’s local spokesperson. Bloomberg said that a national spokesperson for MGM Resorts International declined to comment.
The sources cited by Bloomberg said that talks with financial advisers about selling the Springfield location are in early stages. It is possible no transaction will occur, Bloomberg’s sources said.
MGM Springfield opened in August 2018.
In a visit to Springfield in early 2023, MGM Chief Executive Officer Bill Hornbuckle told reporters that the company overestimated revenue potential from the Springfield casino, which cost more than $900 million to build.
“Our original valuation of this market simply was off — full stop,” Hornbuckle said at the time.
Bloomberg reported that the property generated $278 million in gambling revenue in 2023.
The Springfield casino’s real estate is held by Vici Properties Inc. Bloomberg said a Vici representative declined to comment.
More on MGM Springfield
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- Springfield downtown apartment building officially open after 30 years of decay
- Springfield updates master plan for Main Street development that calls for reuse of historic buildings
- Holyoke Community College programs gets $750,000 boost from state gaming commission
- With talk of MGM selling Springfield casino, CEO to meet with city’s mayor
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