from today's Hartford Courant (9/28):
CT Review: Economic Downturn Delays Casino Expansion Plans
By CHRISTOPHER KEATING
September 28, 2008
"For 15 years, the state's two casinos had one overriding drive: Expand, expand, expand.
But with the national economy slowing and Wall Street becoming more volatile than ever, the Mohegan Sun last week said it was postponing a major expansion. The announcement came as the foundation was being poured for a new hotel, which was just one part of a huge new initiative.
In addition to stalling the 922-room, 39-story hotel, the casino pulled the plug — at least temporarily — on plans for new restaurants, stores, a spa, a parking garage and a 1,500-seat House of Blues Music Hall. The delay is a substantial blow to the labor market in southeastern Connecticut because the full expansion was expected to create thousands of permanent jobs, along with about 1,200 construction jobs.
Last week seemed to be all about the economic slowdown, and the move by Mohegan Sun, one of the state's economic powerhouses, may be particularly sobering because casino officials are known for having their finger on the pulse of the economy." ...
for the complete story
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment