Massachusetts Casino Updates – 6/26/2013

Wynn Goes All In – 
And It Seems to Have Paid Off

It wouldn’t fit on the jet, and barely fit through the door, but Wynn Resorts managed to get an architectural model of its proposed $1.2 billion casino resort set up in Everett, 10 days before voters had their say on the project at a critical citywide referendum. The $90,000 model went on display last week after being trucked to Everett from Las Vegas in large crates, stuck closely to renderings that Las Vegas developer Steve Wynn has released in recent months. The project featured a bronze glass tower and a long promenade of restaurants and retail stores stretching down a peninsula that juts into the Mystic River. Wynn intends to build a five-star hotel with 551 rooms, he said. The project will include an 18,000-square-foot ballroom and a 100,000-square-foot casino, in addition to a spa, nightclub, restaurants, shops and an indoor glass “winter garden.”

Voters in Everett, by an overwhelming margin, gave the green light to Las Vegas casino mogul Steve Wynn to continue his pursuit of a resort casino on the Mystic River.

A host community agreement between Wynn and the city of Everett was approved Saturday in a binding referendum by a more than 6-1 margin according to the city clerk. The vote was required before Wynn could apply for a casino license from the Massachusetts Gaming Commission. The vote was the first binding local referendum under Massachusetts’ new gambling law and gives Wynn the momentum to win the only casino license in eastern Massachusetts. The project could face competition for the sole eastern Massachusetts casino license from proposals in Boston and Milford.

His two competitors are a coalition at the old Suffolk Downs racetrack on the Revere/East Boston line and Foxwoods’ plans in Milford, just off Route 495 and 15 miles from Rhode Island’s border. Neither has yet scheduled a local vote – a requirement of the state law.

Rhode Islanders worried about the impact of Massachusetts’ casinos on Twin River – and the revenue contributed to the state – have to feel that a casino in Everett, north of Boston and 55 miles from Providence – would have less of an effect than one closer in Milford.

That’s all for now.



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