According to an online report at the Boston.com website, Associated Press writer Philip Marcelo states that Las Vegas developer Steve Wynn unveiled a snap shot of a proposed casino in Everett, Massachusetts near Boston. Mr. Wynn spoke to residents in May of 2014 about the project. Wynn Resorts is trying to build a $1.6 billion resort and casino. However, the deal is not yet done. Wynn Resorts has to obtain a casino gambling license from the state of Massachusetts.
Wynn is planning on purchasing about 30 acres of land that is located by the Mystic River. The resort company will pay about $35 million for the land or roughly $1.17 million per acre. There was a conflict of interest early in the negotiations. Mr. Charles Lightbody and Gary DeCicco had a financial interest in FBT Everett Realty. Everett Realty is the land holder. Both men have been convicted of a felony. The state of Massachusetts Gaming Commission state laws bans convicted felons from making money from casino deals.
The Massachusetts Gaming Commission provided statements that says land owners Dustin DeNunzio, Paul Lohnes and Anthony Gattineri are ready to sell the property. A commission spokeswoman Elaine Driscoll states that the documents have to be reviewed by the legal staff at the gaming commission.
In the mean time, Mohegan Sun is also trying to obtain a casino license in the Boston area. Mr. Sun’s proposal includes a $1.2 billion casino near the Suffolk Downs horse track. On May 21, 2014, Boston.com reporter Adam Vaccaro reported that Everett officials reached a deal with Mohegan Sun. Mr. Sun is agreeing to pay the city $575,000 a year and provide funds for a $300,000 traffic study. There are two companies competing for one casino license in the Boston area.
Casino representatives are working with the mayors in surrounding cities and city officials to iron out the final details. The local government’s wants to see and receive a financial compensation package from the resorts. The casino’s activities will have a major impact on government services and the residents in the community.
If you like to gamble, the Mohegan Sun is one of the places. It has 300,000 square feet of gambling space. There is also wide variety of casino games to play. Visitors can play table games, slot machines, poker, race book, power play bonusing, Asian gaming and more. On the other hand, Wynn Resorts is a five start resort with a stock price in the range of $190 to $200 a share. It has 186,000 square feet of casino space.
Finally, there will be one more place to play casino games and gamble in Massachusetts. The decision to grant a license should be approved or denied by early October 2014. The gaming commission will most likely approve the license.