Canadian Firm Signals Interest In Acquiring MA Gambling License
There may be a new entry from Canada in the sweepstakes for a gambling license in Massachusetts. The Massachusetts Gaming Commission has confirmed that Clairvest Group Incorporated, a Toronto-based private equity management firm that finances casinos and race tracks in the U-S and Canada, had contacted them last week. Commission spokeswoman Elaine Driscoll says the company was interested in having what she calls a scope of licensing discussion.
“That discussion essentially determines who would need to submit applications to the Gaming Commission to be determined suitable to move on to the next application phase, which is phase two.”
Phase one of the application process ends on January 15th, and applicants are required by then to pay a non-refundable $400,000 fee to the Commission. It's not clear whether Clairvest plans to develop a casino or a slots parlor or where they plan to locate it. Calls to the company were not returned in time for this broadcast. But Driscoll says applicants are not required to submit that specific information until phase two of the process, which gets underway this coming spring. She says Clairvest is one of eleven entities, so far, that have had discussions with the Gaming Commission over finance and integrity, and four of them have already submitted their application fees. They include Penn National Gaming and MGM Resorts, which are both interested in developing a casino in Springfield.