Here’s a quick update for the Barrowites out there who are still counting on gambling to pull Massachusetts out of this fiscal death spiral we’re all enjoying.
Today’s Journal has a story about a bloody cage brawl that’s erupting between one of the world’s biggest casino operators, MGM Mirage, and the formerly-wealthy emirate of Dubai. The pair is halfway through construction of an $8.6 billion joint venture in Vegas, and Dubai is looking to pull out. The emirate is also witholding payments that will keep construction on the Vegas project rolling – putting MGM on pace to start defaulting on some $13 billion in debt, starting in May.
By now, it should be more than obvious that there’s nobody left standing who’s got the cash to buy a $300 million casino license from Deval Patrick, let alone sink $1 billion into a resort in Marlborough or Middleboro. Trump is bankrupt, and Sheldon Adelson isn’t far behind. And now you can officially add MGM to that list.
Good thing we’ve still got the Lottery, right?