Sarno hopes MGM stays, but says any new casino owner must have ‘financial sustainability’
In a recent statement, Springfield Mayor Domenic J. Sarno expressed his desire for MGM Resorts International to remain in the city, but stressed that any potential new owner of the MGM Springfield casino must demonstrate strong “financial sustainability” in order to ensure the future success of the establishment.
Since opening its doors in 2018, the MGM Springfield casino has become a key economic driver for the city, bringing in millions of dollars in revenue and creating hundreds of jobs for local residents. However, recent reports of MGM exploring the possibility of selling the casino have raised concerns about the future of the establishment.
Speaking to reporters, Mayor Sarno emphasized the importance of maintaining a stable financial foundation for the casino, regardless of who the owner may be. “I want to see MGM stay in Springfield and continue to contribute to our local economy,” he said. “But it’s crucial that any potential new owner has the resources and experience necessary to ensure the long-term success of the casino.”
Sarno’s comments come as MGM Resorts International faces financial challenges stemming from the impact of the COVID-19 pandemic on the gaming industry. The company reported a net loss of $448.8 million in the third quarter of 2020, compared to a profit of $37.4 million in the same period the previous year.
Despite these challenges, MGM Springfield has continued to draw visitors to the city, with the casino reporting a 23% increase in revenue in the third quarter of 2020 compared to the same period in 2019. Sarno credited MGM’s commitment to health and safety protocols for helping to attract customers during the ongoing pandemic.
As discussions about the potential sale of the MGM Springfield casino continue, Mayor Sarno stressed that the city will work closely with any new owner to ensure a smooth transition and continued success for the establishment. “We have seen the positive impact that the casino has had on our community, and we want to ensure that it remains a vibrant and thriving part of our city for years to come,” he said.
In the meantime, Sarno and other city officials are hopeful that MGM Resorts International will ultimately decide to remain in Springfield and continue their partnership with the city. “MGM has been a great partner to us, and we appreciate everything they have done to support our community,” Sarno said. “We hope that they will ultimately choose to stay and continue to be a valuable asset to our city.”
