Foxwoods in the News

Foxwoods, the world's largest casino resort, had two major announcements last week. The first was that it has reached an agreement with MGM Mirage to license its name for their new $700 million hotel and casino expansion at the Foxwoods Resort in Mashantucket, CT.

The new hotel and casino will be called the MGM Grand but will be operated by Foxwoods employees. The agreement also gives Foxwoods access to MGM's database of more that 22 million customers. This will help Foxwoods in its efforts to expand its convention and entertainment business.

In other news this week Foxwoods announced that it will be bringing its brand to Biloxi Mississippi. Its expansion company, Foxwoods Development Group, plans to invest $400 million for a casino resort at the site of the Broadwater Hotel. The company has reached a deal to buy 15 acres on the north side of U.S. 90.

Foxwoods in Connecticut is on the Mashantucket Pequot Reservation and has Tribal Gaming status. However, the same will not be true in Mississippi. Foxwoods will have to pay the same taxes as other casino owners and operate by the rules of Mississippi casinos. The two tribal casinos presently operating in the state do not pay gambling taxes to the state because they are on the historic reservation lands of the Mississippi Band of Choctaw Indians