MGM Finalizes Purchase Of Two Springfield Properties
MGM Resorts International has taken ownership of two historic city-owned properties as it plans to build an $800 million casino in downtown Springfield.
City and casino officials confirmed Friday that the Las Vegas-based casino giant closed on the former Zanetti School and the Armory building Thursday. The final purchase price was $3.2 million, or $1.6 million for each building.
MGM proposes to maintain the castle-like facade of the Armory, but the school will be demolished. Both buildings were badly damaged in during a 2011 tornado.
MGM proposes a casino, hotel, shopping and entertainment complex on 14.5 acres.
The project's future remains uncertain as November voters will consider repealing the state's 2011 casino law. MGM was awarded the state's first casino license in June, pending the outcome of the election.