The newest developer to throw its hat into the Massachusetts casino ring has proposed transforming a portion of downtown Springfield into an $807 million gambling resort and entertainment compound.
Penn.-based Penn National Gaming is working in partnership with Peter Picknelly, CEO of Springfield-based Peter Pan Bus Lines, to construct its new facility on 13.4 acres of land in the north end of the city.
Penn’s plan would relocate the Springfield Republican newspaper from its Main Street home to a renovated downtown location, according to information from the casino company. Penn claims it will create a "village square" downtown by building a new printing plant to spur further industrial development in the city.
The plans also include relocating the Peter Pan bus operations to Union Station, likely resulting in expanded parking structures and new office space for Penn employees.
Penn would also help refurbish the downtown Paramount Theater and house additional administrative offices in the building, according to the company.
Penn’s proposal includes a hotel with up to 500 rooms, 3,000 to 3,500 slot machines, poker rooms and 100 live table games. There will be new restaurants, a 5,000-space parking garage and up to 45,000 square feet of meeting and convention space.
"Our proposed $807 million destination casino resort will be the centerpiece of a revitalization of the city and bring thousands of new permanent jobs, significant union construction jobs, and millions of tax dollars to the region," said Peter Carlino, Penn’s CEO, in a statement.
Penn will be competing in the city with another casino proposed by MGM Resorts in the city’s South End neighborhood.
"Penn National Gaming shares our vision, our values, and has a terrific record of partnering with local communities in the development and operation of urban casinos," said Peter Pan’s Picknelly. "We’re looking forward to a constructive dialogue about our proposal with Mayor Sarno, the Springfield community, and state gaming commission."
The casino company Ameristar may propose a casino project in the eastern area or Springfield side, and Hard Rock International has expressed interest in the city.
