New Financial Partner Found for Milford Casino
Last week the developers of the proposed Milford casino announced a new financial partner, Gaming and Leisure Properties Inc., which will provide the 55% of funding still needed for the project.
The company has signed onto the Crossroads proposal to build a $1 billion, 980,000 square-foot resort casino in Milford.The president and CEO of Foxwoods, Scott Butera, said, “We’re pleased Gaming and Leisure Properties is interested in financing our project as we work to bring the best possible resort-casino to Milford and the commonwealth. We are confident that (its) financial support will bring our project to fruition, providing great financial stability, in addition to social and economic benefits to the local community.”
David Nunes, the Chief Development Officer for Crossroads said that “This is the most positive news you could ever ask for, to know that this thing is fully funded, with an incredible partner that understands gaming and that gets the business.”
In other good news for the project, it has passed its compulsory state background check and now a referendum will be help which will put the fate of the project in the hands of voters. The state gambling commission ruled unanimously that the Milford partnership is suitable to submit a bid.