Massachusetts lawmakers don’t want the unfinished 29-story resort to sit vacant without a license.<\/p>\n
\n“If they pull the license \u2026 they’ll have to make a determination what to do with a building that’s half-built and what to do with all the people that are working there,” US Rep. Michael Capuano (D-Massachusetts) stated recently. “I know that will be a factor in the decision-making. The state is not blind to that aspect.”<\/strong><\/p>\n<\/blockquote>\nThe MGC says it was not made aware of a $7.5 million settlement paid by Steve Wynn to a manicurist in 2005 who alleged she was forced into having sex with him. Under Section 12 of the Expanded Gaming Act, “Any licensee or other person required to be qualified for licensure under this chapter who willfully provides false or misleading information shall have its license conditioned, suspended, or revoked.”<\/p>\n
Who Will Buy?<\/b><\/h2>\n
Matt Maddox might be looking to stay ahead of the MGC and unload the Boston Harbor casino before the state agency revokes its license. But finding a suitor is easier said than done.<\/p>\n
According to project updates, Wynn Resorts has already spent $1.13 billion in Everett. And its current blueprint calls for roughly $1.3 billion more before guests will be welcomed.<\/strong><\/span><\/p>\n“Who could they sell it to where they recoup their losses?” Boston College finance professor Richard McGowan posed to\u00a0The<\/em> Boston Globe <\/i>this week. “If they sell at a discount, even then I’d like to know who could pull it off.”<\/p>\nMGM Resorts certainly could<\/a>. The company is also building a casino in Massachusetts by way of Springfield, and is rumored to be considering making a move to acquire Wynn Resorts as a whole.<\/p>\n","protected":false},"excerpt":{"rendered":"Wynn Resorts CEO Matt Maddox is rumored to have engaged in “informal talks” regarding a potential acquisition of the company’s $2.4 billion integrated casino resort near Boston, which is currently\u00a0under construction. According to Bloomberg, a source who wished to remain anonymous said Maddox has taken calls about a sale. Wynn Resorts spokesman Michael Weaver declined […]<\/p>\n","protected":false},"author":25,"featured_media":74897,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,10,18,13592,1],"tags":[],"acf":[],"yoast_head":"\n
Wynn Resorts CEO Reportedly Fielding Boston Casino Sale Inquiries<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n