waterwarsSAN JOSE, CA, CLINTON: There is a little more clarity in understanding the cross coastal offer and likelihood the transaction will go forward by San Jose Water for [NYSE: SJW] for the Connecticut Water Service [ NASDAQ: CWS]

The San Jose Water Company has confirmed that it rejected a purchase offer by California Water Service Group also based in San Jose [NASDAQ: CWT] regarding a potential proposal to acquire the company for $68.25 per share in cash a total of approximately $1.4 billion for the company, approximately a 21% premium over the stock price the day before the announcement.  In spite of the rejection by the board, investors apparently believe that the purchase will go forward, the stock price having risen to more than $65 per share following the announcement.

mgmSPRINGFIELD: The opening of the MGM Resorts International's $960 million casino and entertainment complex in Springfield, is expected to open early, by august 24th this year. The company cited the ability to move construction quicker due to milder winters than expected.

Reportedly the buildings are approximately 75% complete including the 250 room boutique hotel.

The MGM Springfield's casino has a 125,000-square-feet of gaming space with 2,550 slot machines and 120 gaming tables, a six screen movie theater, skating rink and bowling alley. Foxwoods by contrast has 4800 slot machines and 250 gaming tables.

slotsLEDYARD: After years in the recession fueld dumps, Connecticut’s casino’s are seeing some bright lights and the state's’s coffers are feeling the love as well. Revenue from slots were up significantly at Foxwoods Resort Casino, it reported slot revenue of $43.6 million for the month of March 2018. This “take” is up 12.7 percent compared to $38.7 million in March of 2017. The handle [total wageredon slots] at Foxwoods for the month was $516.4 million, up 4.4% percent from the $494.5 million wagered in the same month in 2017.

Mohegan Sun slot's revenue was $54.8 million for March, up 4.2 percent to more than the $52.6 million versus March 2017. The total wagered on slots was up 5.9% at Mohegan Sun

The Casino’s contribution to the state from the slots revenue was nearly %25 million for the month, Foxwoods $10.9 million and Mohegan Sun $13.7 million.Connecticut Casino Revenue Turns Upward

Eric Thornburg web
A Law firm is questioning SJW Group's takeover of Connecticut Water Service, engineerd by former CWS CEO and current SJW CEO Eric W. Thornburg. 

MILWAUKEE,WI: Not everyone is sure that the Connecticut Water Service [Nasdaq: CTWS], is receiving a fair price for its shares in its merger with the SJW Group, [NYSE: SJW, San Jose Water]

The law firm, Ademi & O'Reilly, LLP says it is “investigating the Board of Directors of Connecticut Water Service, Inc. for possible breaches of fiduciary duty and other violations of Connecticut law in connection with the sale of Connecticut Water to SJW.”

The firm allege that “Connecticut Water's long-term financial outlook is improving and yet Connecticut Water shareholders will receive only 1.1375 shares of common stock for each share of Connecticut Water common stock they own, the equivalent of $61.86 per share.”

Screen Shot 2018 02 16 at 3.34.43 PMNEW YORK: The Ethisphere Institute has selected seven major corporations with extensive Connecticut business as among the most ethical in the world.

For twelve years the organization has selected using what it is explains as an “Ethics Quotient, a proprietary rating system that collects and objectively scores self-reported data in five weighted categories.”

In 2018, 135 companies across 23 countries and 57 industries were recognized as Most Ethical Companies by the Institute.