Yesterday, Steve Wynn, chief executive officer of casino operator Wynn Resorts Limited, was one of the speakers at the Colliers International presentation on the new trends in real estate development in Boston and Massachusetts as a whole.
Mr. Wynn revealed a few more details about his $1.75-billion project for a casino resort in Everett. He said that the venue will most certainly boost local economy. What is more, he took the opportunity to mildly scold all those who have been repeatedly trying to slow down or even prevent the construction of the property.
Mr. Wynn shared with more than 2,000 professionals in the field of real estate development that the Everett project is something he holds dear to his heart as both his parents were born in the area.
As mentioned above, the casino mogul did not miss the opportunity to comment on the lawsuit that Martin J. Walsh, who was elected mayor of Boston in 2014, filed on behalf of the city’s residents. The venue’s launch will be seriously hampered, if the court rules in favor of Mr. Walsh.
Mr. Wynn pointed out that he expected “a little acknowledgment” as his project will certainly bring many benefits to the region and the state as a whole. He also shared that the casino will most probably attract many visitors. It will be the first Las Vegas-themed gambling venue in Massachusetts.
The businessman stated that the building of the casino and its subsequent launch will create between 10,000 and 15,000 construction and permanent jobs. In other words, Wynn’s company will be the fifth largest employer in the history of the state.
In addition, Mr. Wynn also shared that the casino will contribute $50 million from its monthly revenue to the state’s coffers. It is also expected to generate at least $50 million more every month.
Wynn Resorts’ proposal, which was approved by the local gaming regulator back in September 2014, is currently being the subject of a total of three lawsuits. The one that was filed by Boston, Somerville, and Revere asks local court to declare the license for a Greater Boston casino is not valid.
Mr. Walsh pointed out that the residents of Boston need to be given the opportunity to vote in a special referendum whether there should be a casino in the city of Everett. According to him, Boston will be seriously affected by the construction and the launch of the venue as the traffic to it will mainly go through the city.
