Third Connecticut Casino Announcement Has All Ears Piqued in Northeast

Third Connecticut Casino Announcement Has All Ears Piqued in Northeast

A planned Connecticut casino will reveal its targeted location for construction in the coming days, and the impending announcement has the ears of all vested gaming interests operating in the northeast.

MGM Springfield in Massachusetts is causing quite a stir, as another Connecticut casino is in the works to offset the impact of the megaresort.

The Mashantucket Pequot and Mohegan Native American tribes are working together to bring the Constitution State a third casino venue. The joint venture is in response to MGM Springfield, the $950 million resort currently under construction in southern Massachusetts.

State lawmakers permitted the two tribal groups to build a third casino off their sovereign lands in order to keep gambling revenue in the state and protect jobs.

The Mashantucket and Mohegan people are considering building in the northern part of the state in the towns of Windsor Locks or East Windsor. That would place the Connecticut casino just 15 miles from MGM Springfield.

With MGM, state lawmakers, and residents anxiously waiting, the tribes say the official announcement of the casino will be revealed in the coming days. ‘We’re days, not weeks or months . . . from announcing a decision,’ Mohegan Chairman Kevin Brown said this week.

MGM States the Obvious

Once the Native American coalition pinpoints its gaming location, the state legislature will need to sign off on the construction. The facility is expe Continue reading « Third Connecticut Casino Announcement Has All Ears Piqued in Northeast »

FantasyDraft Bails Out Fantasy Aces, Will Spend Player Balances

FantasyDraft Bails Out Fantasy Aces, Will Spend Player Balances

FantasyDraft will rescue the consumer balances of the stricken and Fantasy that is bankrupt Aces, its CEO announced on Monday on the RotoGrinders DFS forum.

FantasyDraft CEO Steve Krombolz said his company is stepping in so that they can save the ‘lifeblood associated with the industry.’ The vast majority of Fantasy Aces customers will be paid in money, while larger balances are going to be topped up with FantasyCash.

FantasyDraft was in the verge of acquiring the website month that is last it pulled out of the deal citing ‘issues identified during our homework.’ It in fact was a move that quickly propelled Fantasy Aces towards chapter 5 bankruptcy.

Bankruptcy filings quickly unveiled the messy truth behind Fantasy Aces’ situation: the business had failed to segregate player funds from the operational costs and owed its customers $1.3 million.

An account listed in the filings as ‘Players Account’ contained just $2,419. Whilst the company listed assets of $1.8 million, that will be liquidated to pay creditors, in addition said it had liabilities of $2.96 million.

In short, Fantasy Aces could not pay its customers.

99.6 Percent to Receive Cash

‘As members associated with the DFS community devoted to doing things the right way, we feel you, the players,’ wrote Steve Krombolz, CEO and Co-Founder of FantasyDraft that we need to do our part to protect the lifeblood of the industry.

‘So, we’ve determined getting invol Continue reading « FantasyDraft Bails Out Fantasy Aces, Will Spend Player Balances »