Wynn Casino Everett News
On Friday, Wynn Resorts received its operating certificate to open the $2.6 billion Everett casino, CEO Matt Maddox quelled any lingering questions about a possible sale. “Encore Boston Harbor is. (AP) — Voters in Everett overwhelmingly approved an agreement between city officials and Las Vegas casino mogul Steve Wynn, who wants to build a $1.2 billion resort casino.
Everett’s Wynn casino project faces scrutiny after casino mogul Steve Wynn stepped down from his position on the Republican National Committee amid sexual misconduct allegations.
A Wall Street Journal report on Friday detailed dozens of stories from Wynn Reports employees who say Wynn himself “sexualized his workplace and pressured workers to perform sex acts.”
Though Wynn responded to the allegations saying, “The idea that I ever assaulted any woman is preposterous,” he resigned as finance chair of the Republican National Committee on Saturday, according to Politico.
The Massachusetts Gaming Commission also announced following the allegations a review into Wynn Resorts to determine whether Wynn’s alleged behavior violates his company’s gaming license.
“The Commission is now aware of and is taking very seriously the troubling allegations detailed in the Wall Street Journal article,” a spokesperson for the gaming commission said in a statement. “The suitability and integrity of our gaming licensees is of the utmost importance, and ensuring that suitability is an active and ongoing process.”
“Consequently,” the statement continued, “the MGC’s Investigations and Enforcement Bureau will conduct a regulatory review of this matter to determine the appropriate next steps.”
Gov. Charlie Baker thinks the investigation is the right move, saying, according to CBS, “I look forward to what they glean from this investigation.”
“The reports and the allegations associated with Steve Wynn were appalling,” Baker added on Sunday, CBS reported. “I’m really glad the Republican National Committee stepped back and he stepped down.”
The Everett Wynn casino is slated to open June 2019. Everett City Councilor Michael McLaughlin weighed in on the situation Sunday night as well, saying in a statement that the allegations were “deeply concerning” to him both as a city councilor and also because he was a vocal supporter of the Wynn Everett project.
While he does believe the company should be investigated, McLaughlin also said the project should move forward.
“Since the beginning, my support for Wynn in Everett stemmed from the job opportunities, economic growth, and development of the unusable contaminated land, all of which would positively impact our community and region for years to come,” he said. “I do not believe the thousands of people who this project will positively impact should be punished for one individual’s alleged behavior.”
“That being said, it is important we take these allegations seriously and allow the Massachusetts Gaming Commission to conduct a thorough investigation,” he added. “It is my highest priory that anyone living or working in our community is never subject to sexual harassment, under any circumstances. I have full faith in the Massachusetts Gaming Commission to come forward with an appropriate resolution which will not hinder the progress of the project but will simultaneously show zero tolerance for sexual misconduct in any capacity.”
BOSTON (AP) — Two major casino operators said Friday they were in preliminary talks about the possible sale of one of the largest casinos in the Northeast.
Wynn Resorts and MGM Resorts International said in a joint statement they’ve engaged in conversations about the potential sale of Encore Boston Harbor.
This comes as Wynn is about to open the $2.6 billion Everett, Massachusetts, casino.
The companies say the talks won’t delay the Everett opening scheduled for next month.
MGM currently owns a casino in Springfield and would not be allowed to operate two in Massachusetts.
State gambling regulators last month levied a $35 million fine on Wynn Resorts but let Wynn keep its casino license after finding executives failed to disclose allegations of sexual misconduct against company founder Steve Wynn.
It also levied another $500,000 fine on new CEO Matthew Maddox.
The companies said any talks are still in the early stages.
“Over the past several weeks, we have engaged in conversations around the potential sale of Encore Boston Harbor,” the companies said in the statement. “They are very preliminary and of the nature that publicly traded corporations like ours often engage in, and in fact when opportunities such as this are presented, we are required to explore. We cannot say today where these conversations will lead, however we can reaffirm our commitment to the communities where we operate today.”
The companies added that the conversations “will not impact the jobs at our facilities and will not impact the opening of Encore Boston Harbor.”
The Encore Boston Harbor resort has been slated to open June 23, although company officials have said that could be pushed back by a week or two.
In its investigation, Massachusetts Gaming Commission focused on how long Wynn officials were aware of the allegations against Steve Wynn and how they responded, rather than the truth behind the claims.
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Steve Wynn, who resigned as CEO last year, has denied the allegations.
After the fine was announced, Wynn Resorts issued a statement saying “our company is now focused on a successful launch of Encore Boston Harbor.”
The fine was the biggest imposed by any state casino regulatory agency, commission staff and industry experts said. The Nevada Gaming Commission in February levied a $20 million fine on Wynn Resorts that was the largest imposed at the time, they said.
The Massachusetts Gaming Commission, which regulates casino gambling, had no immediate comment on the talks between the two companies.
Elaine Driscoll, a spokeswoman for the agency, said in a statement the agency said its written decision following the Wynn investigation stands.
“The deadline for fine payment and notice of appeal is May 31. The MGC continues to focus its efforts on the significant amount of regulatory preparations required before Encore’s opening,” Driscoll said in the emailed statement.
Wynn Everett Casino News
The 2011 state law that authorized up to three resort casinos in Massachusetts prohibits companies from holding more than one casino license, so MGM would not be permitted to operate both the Springfield and Boston Harbor facilities.
The law does contemplate the possibility of a license transfer and provides guidance for how one might occur, but such a process would likely be complicated and perhaps lengthy, according to gambling regulators.
As host communities for the casinos, Springfield and Everett would also likely have a say in any negotiations surrounding new licensees for the casino.
MGM’s Springfield casino, hotel, entertainment and shopping complex opened last August near the Connecticut state line and reported one million visitors in its first six weeks — generating more than $36 million in gambling revenues, translating to about $9 million in tax revenues for the state, which collects 25 percent of casino gambling revenues.
Wynn Casino Everett News
As of March, the state had collected about $42 million in taxes from the casino.