Mass. Casino Panel Sets Conditions for Foxwoods
By BOB SALSBERG, Associated Press
BOSTON (AP) — Massachusetts gambling regulators say a group led by Foxwoods can continue its pursuit of a resort casino in Milford if it lines up the necessary financing and meets several other conditions.
The ruling issued Friday by the state gaming commission follows a hearing in which it was revealed that Crossroads Massachusetts had yet to secure 55 percent of the equity financing for the proposed casino that would be operated by Foxwoods.
The additional financing must be lined up in time for the commission to complete a background check and make a final suitability determination before the Dec. 31 deadline for final casino applications.
Foxwoods chief executive Scott Butera said Wednesday the company was close to a deal on financing.
The proposed casino also faces an up or down vote by Milford residents on Tuesday.