BOSTON (AP) — State gambling regulators are weighing what to do next now that developers of a proposed New Bedford casino abruptly dropped out of the competition.
The Massachusetts Gaming Commission met Thursday after New York-based developers KG Urban Enterprises notified them late Wednesday that they were withdrawing plans for a $650 million Foxwoods-operated casino because of an inability to secure financing.
Commission members voted Thursday to accept KG Urban’s withdrawal and said they would discuss next steps at a future meeting. No one from the company spoke at the meeting.
The surprise development has left just one developer seeking the state’s third and final resort casino license.
Mass Gaming & Entertainment proposes a $650 million resort in Brockton. But the commission has reserved the right not to issue the license at all.
WBZ NewsRadio 1030’s Bernice Corpuz reports:
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