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Ludlow Agrees to $100,000 Mitigation Deal with MGM-Springfield

Ludlow Agrees to $100,000 Mitigation Deal with MGM-Springfield

The town of Ludlow in Massachusetts has entered into an agreement with MGM-Springfield for funds to help mitigate the impact of a proposed casino in Springfield’s South End.

Ludlow Agrees to $100,000 Mitigation Deal with MGM-Springfield

The town of Ludlow has agreed to a deal with MGM-Springfield which will see it receive $100,000 a year to help mitigate the impact of a Springfield casino.

MGM-Springfield proposed agreements with surrounding communities which would see MGM give the communities $100,000 a year, $75,000 to help mitigate impacts and $25,000 for consultants, for the first 15 years of its casino license.

Ludlow Selectman Aaron Saunders said, “The agreement is not about our supporting or opposing the casino. It is about protecting the residents.”

The agreement will be reviewed after one year and five years of operation of the casino to evaluate the costs of the impact.

The vice president of Global Gaming Development at MGM Resorts International, Michael Mathis, said that MGM has had “some very productive conversations with other communities and are looking to secure more of these agreements so that we can provide a full application.”

This week selectmen from the town of Wilbraham will consider voting on a similar agreement for their town. MGM is the only casino applicant left in Western Massachusetts after the November 5th ballot defeated the resort casino planned in Palmer by Mohegan Sun.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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