Bid for New Bedford Casino falls through

By Ana Bottary

Plans for a 650 million dollar waterfront casino in New Bedford, have fallen through. Project developer KG Enterprises withdrew its bid Wednesday, due to financing problems. Disappointing news for many residents.
"I'm shocked actually because we do need that, we go to Foxwoods all the time," says New Bedford resident Maria Barbosa.

City Councilor David Alves says he was devastated when he got word of KG urban backing out. He's been involved in trying to bring a casino to the city for years, and says it's a shame to see the bid go out like this.

"They were looking at the largest economic project in the past twenty years, or for the next twenty years,"says Alves.
Alves says the project would have brought more than 2,000 construction jobs to the area and almost 4,000 permanent jobs. As well as 12.5 million dollar annual payments from the casino to the city.
Mayor Jon Mitchell released a statement saying in part, "KG Urban's decision to abandon the Cannon street project is an extreme disappointment and a great shock…"
Despite overwhelming support at the polls for the casino project, not all city residents are upset with the news.
"With a casino coming in I'm not sure that's what we wanted to attract to this area. The waterfront is very commercial waterfront with fisheries here and I'd like to see something come in that could tie in with that,"says New Bedford resident Frank Tapper.

Ales says despite the bid being withdrawn, this will not be the end of an effort to bring a casino to New Bedford.
He says, "I still believe New Bedford offers the best potential and some of the greatest opportunities for a casino developer."

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