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TimmyFromBoosters

MGM/Islanders make last ditch effort to purchase XL Center

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A lot of the pieces of the puzzle are falling into place in the last weeks of the legislative session.

 

- MGM will be opening a $1 billion dollar casino in Springfield in the coming months

- there are two competing casino pieces of legislation floating through the Capitol Building, one for a casino in East Windsor and one for a casino in the Bridgeport area

- if the casino in East Windsor opens, it would dramatically hurt the MGM $1 Billion Springfield casino

 

MGM has a plan to save the Springfield casino, stop the East Windsor casino, purchase/renovate the XL Center, and help build a casino in the Bridgeport area that would bring more NYC Casino users revenue to the state of Connecticut and help take the struggling XL Center off the hands of the state and mean that state bonding would not be needed.

 

MGM's plan:

If the State of Connecticut strikes down the East Windsor Casino legislation (Bill 957), and approves the Bridgeport casino legislation (Bill 7319), then MGM would bankroll money to the Schaghticoke Tribe in Bridgeport for construction of a new casino and MGM would purchase the XL Center and make a huge proposition to the Islanders to relocate to Hartford, which explains why in the past few days the Schaghticoke Tribe made an appearance in Hartford along with Islanders personnel, and Governor Malloy's longtime advisor Roy Ochiogroso is now representing MGM and that Mayor Ganim also wants to see the casino built in Bridgeport.

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The Hartford Courant is reporting today how some State Senators and Reps are discussing the possibility of putting caps on bonding and even the possibility of shutting down the Bond Commission altogether. That now makes sense on the heels of the first serious offer of a group taking the XL Center off the hands of the State, bringing the Islanders in, stopping the East Windsor casino, and putting a new Casino in Bridgeport whereby some revenue of that new casino would go to the city of Bridgeport and thus no state bonding would be needed for the Wish List that was offered in the pamphlet that Ganim and Bridgeport floated around the Capitol just days ago.

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the following things have all happened in the past 2 weeks:

 

- State Senators and Reps now discussing putting caps on State Bonding, with the Courant reporting the possible shutting down of the Bond Commission altogether in this morning’s Hartford Courant

- the State of Connecticut announces that tax revenue and finances are in worse position than previously thought

- Bridgeport Native Tribe Schaghticoke Tribe suddenly appears at Capitol Building days ago pushing for a casino, late into a Legislative Term

- Bridgeport City and Mayor print off pamphlet days ago and give it to Legislators, with a Wish List of projects they want done in Bridgeport

- NY Islanders personnel spotted in Hartford

- idea of Tribes aiding the XL Center renovation is floated around

- then ideas of Private Investors helping the XL Center renovation is floated around

- MGM, which is prohibited from building another casino within 50 miles of Springfield, suggested that Fairfield County is a better location because it would capture the New York City market, provide more tax revenue to State of Connecticut

- Geno Auriemma shows up in Hartford days ago and strongly criticizes the poor condition of the XL Center, calling it the worst arena in the college league

 

All of these events show the importance of Bridgeport’s actions in the past days, Bridgeport’s actions help Hartford because by the Bridgeport area getting a casino - more tax revenue is created as it would be coming from the NYC area, and because MGM is legally not able to play a part of any possible East Windsor casino ownership, if MGM gets a casino in Bridgeport - then MGM would be able to make a play for the XL Center and take it off the state’s hands.

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Heh, you mean the same Islanders that have an extremely lucrative cable deal until 2033? And the same Islanders that are planning on building a facility either at Belmont Park or next to Citi Field?

 

Log off Wolfie.

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Oh, and the MGM casino in Springfield that is opening "in the coming months" is still well over a year away from opening.

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lucrative cable deal??? You obviously know nothing about casino revenue. The casino revenue from a casino in Springfield and casino revenue from Bridgeport would squash the small cable TV deal. Foxwoods is bringing in $40 million of profits per MONTH, between a casino in Springfield and Bridgeport, MGM could easily be bringing in $60 million or profit a MONTH, or $2 million a DAY. You really think a relatively small cable TV income is going to to stop a company from byp*****ing $2 million a DAY, 365 days a year, when home hockey games seen on TV are only 40 days a year? Surely you can't be that stupid, can you?

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Hey, don't get mad at me, all of the others have been saying the cable deal would keep the Islanders in New York.

 

And again, you're forgetting some important factors here. Foxwoods is bringing in $40M of profits a month? Since when? And I wouldn't be guessing at MGM's revenue...because it could also be $0 if they don't get the casino in Bridgeport. Surely you can't be that stupid, can you?

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Hartford Business: (http://www.hartfordbusiness.com/article/20170116/NEWS01/170119939/foxwoods-sees-drop-in-dec-slots-revenue)"Foxwoods' December slot revenue slid to $35.3 million compared to $37.7 million in the year-ago period. The handle for the month stayed about the same, at $465.7 million,compared to $466 million wagered in the same month a year ago." Foxwoods is making well over $1 million a DAY just in slots.

 

An MGM casino located in Bridgeport, an hour closer to NYC than Foxwoods is, would bring in just as much money as Foxwoods if not more money. There are more people in NYC than there are in Norwich, can't believe you need that explained to you.

 

Why do you think the NY Islanders personnel were in Hartford during the past few days, as reported by Hartford media, do you think they were here for dinner because they couldn't find a restaurant in the NYC area? Are you that dumb?? And the Bridgeport Native Schaghticoke Tribe happened to show up in Hartford the next day demanding a casino in Bridgeport, you think that is all a coincidence?

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God you're stupid.

 

You said $40M, then when I called you out on it, you posted a link to an article that said their revenue (revenue is different than profit) slid to $35.3M, which is less than $40M.

 

"An MGM casino located in Bridgeport, an hour closer to NYC than Foxwoods is, would bring in just as much money as Foxwoods if not more money. There are more people in NYC than there are in Norwich, can't believe you need that explained to you"

 

There is no guarantee MGM is going to get a casino ANYWHERE in Connecticut, you imbecile. I can't believe you need that explained to you.

 

"Why do you think the NY Islanders personnel were in Hartford during the past few days, as reported by Hartford media"

 

The only place it's been "reported" was on 92.5, the same station you mocked years ago when a similar call was made, remember? You even went as far as falsely accusing me of making the phone call....now, you believe it hook, line and sinker??? Really????

 

Log off, Wolfie. You're being dumber than usual...which is a new record for you.

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Wow you are dumb, (Norwich Bulletin) - MASHANTUCKET – Foxwoods Resort Casino posted stronger slot machine revenue in July than the month prior.

 

The casino’s $44.2 million win on the month is up more than 25 percent over its June earnings of $35.3 million, do*****ents show. That is $44 million revenue just on SLOTS, not including table games, hotel revenue, restaurant revenue, golf course revenue.... Add in Mohegan revenue, and those two casinos are bringing in $80 million a MONTH in revenue. A casino located closer to Greenwich and to NYC would bring in just as much money, there are more casino visitors coming from NYC than Rhode Island, the population of NYC is just a tad bit higher (10 times) than the population of Rhode Island, I can't believe you need that explained to you, you pot-bellied fool.

 

And now you try to attack a Hartford radio station for reporting the fact that NY Islanders personnel were in Hartford just days ago? So, it is all one big conspiracy in your mind, you dumb fool.

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Wolfie, focus.

 

Revenue is different than profit. That's accounting 101. If Foxwoods and Mohegan were really making the money you claim, there would be no reason to expand to East Windsor. They wouldn't be the least bit concerned about MGM moving into Springfield.

 

"And now you try to attack a Hartford radio station for reporting the fact that NY Islanders personnel were in Hartford just days ago? So, it is all one big conspiracy in your mind, you dumb fool."

 

I'm not attacking the radio station, idiot, I'm attacking you for your complete 180. You were so quick to blow off the same types of phone calls made to the same radio station before...even going as far as to falsely accuse me of making said phone calls. Now, you believe them. If Garth Snow was really in downtown Hartford, why didn't the Courant report it? Why didn't any of the TV stations report it? But you're taking the words of an anonymous caller on country 92.5 and taking it as gospel.

 

You have been outed once again as a complete fraud and a phony. Nobody believes the BS you spew here anymore. Time you log off and stay off, Wolfie.

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Wow you are dumber with each posting.

 

You don't understand how revenue and profit work and the deductions for huge salaries that are subtracted from revenue to arrive at profit. (http://www.theday.com/article/20161229/BIZ02/161229304) "Mohegan Sun, the Mohegan Tribal Gaming Authority’s flagship casino, had net revenues of $1.02 billion, a 2.8 percent increase over the $994 million it earned in the previous year. Foxwoods Resort Casino’s net revenues were $858.2 million in fiscal 2016. In its annual report, the Mohegan gaming authority reported net income — profit — of $133 million for fiscal 2016. In fiscal 2016, the Mohegan gaming authority’s top three executives were paid more than $1 million apiece, the authority's annual report shows. Even after paying executives $1 million a piece and handing over tens of millions to the state from slot revenue, Mohegan is still making over $130 million profit a year, or over $2 million profit a WEEK.

 

MGM Bridgeport would be closer to New York City than Foxwoods and Mohegan are, what is so difficult for you to understand that being closer to NYC is more lucrative than being closer to Rhode Island???

 

Put the bag of potato chips down, get out a map, factor in population, and figure out that being closer to NYC and Greenwich is a better financial situation than being closer to Rhode Island and Norwich. I can't believe you are that stupid.

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Wolfie, as you just explained, revenues are different than profits.

 

You just said Mohegan made $133M profit for the fiscal year 2016. That's a long, long way from the $40M/month you claimed just a few posts ago. In fact...it's roughly 1/4 of what you said. $133M/12 = $11.08M/month. That's much more believable.

 

"MGM Bridgeport would be closer to New York City than Foxwoods and Mohegan are, what is so difficult for you to understand that being closer to NYC is more lucrative than being closer to Rhode Island???"

 

I never said MGM Bridgeport wouldn't be more lucrative. Not one time did I say that. However...and this is the part you need to concentrate on very closely...I'll even help you by capitalizing it....THERE IS NO GUARANTEE MGM IS GOING TO GET THEIR CASINO IN BRIDGEPORT!!!!!

 

You're an imbecile, Wolfie.

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Oh, and from that same article...

 

"In its annual report, the Mohegan gaming authority reported net income — profit — of $133 million for fiscal 2016, a 4.4 percent increase over the previous year. Foxwoods reported net income of $64 million, up 70 percent over the previous year."

 

So Mohegan had a profit of $11.08m per month. Foxwoods had a profit of $5.33m per month. That's a far cry from $40M/month that you claimed.

 

Also...while I do agree IF MGM gets the casino in Bridgeport they'd make more money than these totals...Those numbers will also fall well $h0rt of the $60m per month you had falsely claimed before.

 

In other words....you're wrong. In other news, the sun comes up in the East.

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Hey timmy, make sure to include all these facts and figures in your next email update to Jersey. He loves hearing from fellow believers and yaysayers

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On 5/12/2017 at 8:03 AM, TimmyFromBoosters said:

MGM's plan:

If the State of Connecticut strikes down the East Windsor Casino legislation (Bill 957), and approves the Bridgeport casino legislation (Bill 7319), then MGM would bankroll money to the Schaghticoke Tribe in Bridgeport for construction of a new casino and MGM would purchase the XL Center and make a huge proposition to the Islanders to relocate to Hartford, which explains why in the past few days the Schaghticoke Tribe made an appearance in Hartford along with Islanders personnel, and Governor Malloy's longtime advisor Roy Ochiogroso is now representing MGM and that Mayor Ganim also wants to see the casino built in Bridgeport.

Incredibly interesting but where did it all come from?

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