Wynn Resorts to build Casino near Boston
5 (100%) 3 votes

The Massachusetts Gaming Commission has picked the Las Vegas casino giant Wynn Resorts over the Mohegan Sun tribal agency by a 3-1 vote to build a resort casino on the Mystic River in Everett just north of Boston. The Gaming Commission said the decision was made because Wynn can offer better-paying jobs, hire more workers and spend much more money on constructing the project than the tribal agency Mohegan Sun. Wynn plans to clean up a 30-acre site of a former chemical plant on the Mystic River in Everett.
This is one of the projects that had been planned when a State law went into effect in 2011 that allowed for the building of three resort-style casinos and one slot casino in Massachusetts. However, several organizations that are opposed to building casinos gathered enough signatures to put a repeal measure on the ballot in November. Nevertheless, developers continued to push for the license from the Gaming Commission to build this $1.6 billion casino.
Boston is one of the few remaining cities in the Northeastern United States that was without a casino. Wynn expects the resort to be fully operational by 2017 and will include a 500 room luxury hotel, eight restaurants, a nightclub and 3,000 slot machines.
Wynn Resorts expects the casino to generate over $800 million in revenue annually and it is hoped that the resort will attract tourists from all over New England. A large source of revenue will be from the casinos non-gaming operations, including room hotel room bookings, food and beverage sales and sales from the retail shops.
Wynn hopes that the Boston resort can help offset the troubles faced in Macau due to the crackdown from China on corruption and it is hoped that by expanding its operations outside of Las Vegas, Wynn should help to bring higher revenues from casinos in the United States. Casinos located in the United States have enjoyed a higher per capital amount of consumer spending as compared to overseas casinos.
The decision by the Gaming Commission to go with Wynn could mark the end of Bostons last thoroughbred track, Suffolk Downs. The management at Suffolk Downs had been planning to continue operating for another 15 years if they had won the license. According to Suffolk Downs management the racetrack operates in the red and wouldn’t be able to stand on its own without a casino operating to bring in more revenue.
In the final proceedings by the Gaming Commission, Wynn Resorts agreed to an alternate design for its proposed 27-story glass hotel tower. Wynn also agreed to propose a long-term plan to address the traffic issue through Sullivan Square in Boston.