Developers: Financing Secured For $650M New Bedford Casino

CBS Boston

BOSTON (AP) — Developers proposing a $650 million Foxwoods resort casino on the New Bedford waterfront said Monday that they’ve secured financing and brought on a former Foxwoods CEO as partner.

Scott Butera, who resigned as head of the Connecticut-based Foxwoods in October 2014, confirmed in a letter to state regulators that he’s joined KG Urban Enterprises, of New York.

Meanwhile, Gaming and Leisure Properties, of Pennsylvania, says it has committed to helping finance the project’s costs, though the details of the arrangement were not disclosed Monday. Foxwoods has already agreed to operate the casino when it opens.

“With its glass casino on the wharf boasting 180-degree views of the harbor and its proximity to the New Bedford commercial fleet, the Buzzard Bay hurricane barrier, State Pier, Cape Cod, Martha’s Vineyard, Nantucket, KG Urban’s Cannon Street property will create a gaming and resort experience unique not only in the Commonwealth…

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