Good point. I pose this question to the longs, though.... Why would Mass choose MGM over 3 other casino companies that aren't massively indebted. Furthermore, why would Mass choose MGM which has a poorer location (in the minds of a lot of locals)? It is not like Penn and MGM can make a deal btwn each other- first the municipality approves potential plans and then the voters vote on it. MGM is not likely to win.
Respected local businessman teams up with very profitable Penn National to develop casino downtown rather than near residential neighborhoods like debt-ridden MGM wants to do. MGM has some stiff competition. By no means a done deal. It's not even a done deal that a casino will be allowed. I think they will go with Penn over MGM, why wouldn't they?