The partnership recently announced by MGM Mirage and Foxwoods, owned by the Mashantucket Pequot Tribal Nation, promises to have a lot of merits for either partner: on the one hand it will put the MGM Grand name on a $ 700 million Foxwoods hotel and casino expansion; on the other hand it will help Foxwoods spread its brand outside Connecticut.(According to the plan a new convention and gambling complex will be designed in the best traditions of a classic MGM Grand meeting complex and gambling resort.) Besides, the companies have agreed upon working on future projects at Foxwoods, opening new casinos around the country. For that purpose MGM Mirage is to provide up to $ 200 million in financing to back new gambling ventures around the country. To say more, Foxwoods Developing Group is planning to have MGM’s Backing for a huge number of new gambling ventures. A Gulf Coast casino resort at the site of the Broadwater Hotel in Biloxi, Miss., is one of the investment plans of the Mashantucket Pequot Tribal Nation. $ 400 million is the sum needed. Foxwoods Resort Casino at Broadwater Beach is its future name.
So, it’s clear that their partnership is mutually beneficial.
