They say it isn’t good to put all of your eggs in one basket. That hasn’t stopped MGM Springfield from betting on the legalization of sports betting to play a significant role in their growth in 2020.
Right now, the casino is one of a number of groups that are lobbying the state legislature to legalize sports gambling within the state of Massachusetts. This they feel is absolutely necessary after the casino reported lackluster revenues in 2019 which led to former President Michael Mathis and vice president and chief financial officer Courtney Wenlender stepping away from the company in January.
According to reports, new president Chris Kelley is concerned about stagnant gambling revenue. Employment at the MGM has remained at 2500, which is 500 fewer than what the casino had promised both the state and city it would be able to hire when they first petitioned to receive a gaming license.
Those numbers may take an even bigger hit should the Massachusetts state legislature approve the opening of a new casino within the state. This idea is being strongly considered after the Mashpee Wampanoag Indian tribe proposed building a $1 million resort-casino. In addition, the Aquinnah Wampanoag tribe is looking to add a gambling hall on Martha’s Vineyard.