Wynn Resorts Wins, Signs Boston-Area Casino License
On Tuesday, Wynn Resorts was officially awarded the first Boston-area license by the Massachusetts Gaming Commission, which they signed today. They can now begin work on the $1.6 billion casino project, located in Everett, just north of Boston.
Wynn's Success Comes at the expense of Rival Bidders Mohegan Sun & Suffolk Downs Racetrack
Wynn’s success has come at the expense of both their rival bidders, Mohegan Sun, and the Suffolk Downs Racetrack, the intended site of the $1.1 billion Mohegan Sun Casino, which will now have to close down on the 29th of September.
As much as Suffolk Downs is lamenting the loss of the bid Everett, a medium sized city with a polluted waterfront, is taking a big gamble on the casino in the hopes the casino will be enough to rejuvenate the city failing economy.
Everett Mayor Carlo DeMaria, speaking to the Boston Globe at one of the Wynn public relations campaigns said: “You won’t recognize the city of Everett, hopefully, in 10 years. We will no longer be the butt end of the city of Boston. We will be the entrance to the city of Everett”.
Mayor DeMaria may be pleased with the awarding of the new license but the campaign for one of Bostons three casino licenses, has been the scene of many a contentious battle between the developers, the lobbyists as well as the critics.
Those opposed to the construction of the casinos have won the right to a nationwide referendum to oppose the gaming law which saw the legalization of casinos in 2011. They say that casinos do more harm than good for the local municipalities and will increase crime as well as devalue property values.
MGM Resorts International, the company that won the first casino license, has held off development of their Springfield casino until voters go to the poles, which have showed a clear divide in the opinion of the casinos.
Wynn, on the other hand, looks set to go ahead with the construction of the Everett casino complex. They say they will be able to create 4000 permanent jobs as well as around 3000 construction jobs. They have also pledged that Everett will benefit from $30 million in local enhancement projects and $45 million in infrastructure improvements. Wynn has also claimed that they would create and annual revenue in the region of $800 million, of which more than $200 million would go to the state as gaming tax.
Part of the licensing agreement requires that Wynn Resorts give priority to the workers of Suffolk Downs when hiring staff for the casino. This should, Wynn say, alleviate a lot of the pressure on staff currently working at the racetrack who face losing their jobs as well as make them a part of the excitement of the new casino project.
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