Nicholas Casiello and Patrick Madamba, attorneys with the national law firm of Fox Rothschild LLP, recently led the team who represented MGM Resorts International through the process of obtaining a finding of suitability for a proposed casino in Springfield, MA. MGM's anticipated project, if approved, is estimated to cost in excess of $800 million.
The year-long investigation process to obtain the finding commenced in January 2013. It involved more than 30 individual applicants and nine entity applicants, including Kirk Kerkorian's Tracinda Corporation and affiliates of Dubai World, a UAE sovereign wealth fund, and was conducted in several states, including Nevada, Macau and Dubai.
On December 23, 2013, the Massachusetts Gaming Commission issued the finding of suitability to a subsidiary of MGM, the world's second largest casino company based on revenues.
MGM's plans for the casino include a 250-room hotel with a 125,000-square-foot casino and retail and restaurant space. In total, the facility would stretch 14.5 acres through Springfield and contain 850,000 square feet.
Later in December, MGM submitted an application to be awarded the sole gaming license in Western Massachusetts. If approved, Springfield will receive more than $25 million in annual payments from MGM.
Fox associates Harry Jackson and C.J. Fisher assisted with this matter.
Chair of the firm's Gaming Practice Group, Casiello has practiced all aspects of gaming law for more than 30 years, including licensing, acquisitions, compliance plans and investigations, and financing. Named as one of the leading gaming attorneys in the world by Chambers Global, Casiello's clients include casinos, gaming equipment manufacturers and other technology providers, private equity firms and other investors.
Madamba is of counsel with the firm and has practiced gaming law for almost two decades. He has represented casinos, private equity and investment banking firms, real estate developers, Internet gaming companies and gaming equipment vendors.
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