MGM Resorts, which is about to begin building an $800 million casino in Springfield, Massachusetts, lost money in 2014.
MGM, in its most recent earnings report, blamed the $150 million net loss in 2014 on poor performance at its Macau casino in Asia. It noted the company’s Las Vegas casino revenues grew and in a conference call with investors, MGM’s CEO touted plans for the new Springfield casino. Springfield Mayor Domenic Sarno said he’s confident MGM will deliver the jobs and revenue promised.
" Now we feel we have a well-vetted plan that was put forward and it was done in a very methodical, professional and transparent way," Sarno said Tuesday.
MGM’s Springfield casino is not scheduled to open until 2017.
