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Wynn Advances Massachusetts Casino Plans

The Las Vegas casino developer Steve Wynn has taken another step forward in his attempts to bring a casino resort to Massachusetts.

The Las Vegas casino developer Steve Wynn has taken another step forward in his attempts to bring a casino resort to Massachusetts.

The Las Vegas casino developer Steve Wynn has taken another step forward in his attempts to bring a casino resort to Massachusetts.

Wynn signed an option to buy land on the Mystic River in Everett where he plans to build the resort.

The move puts Wynn in direct competition with Suffolk Downs which has plans for a casino resort at the East Boston racetrack with casino partner Caesars Entertainment.

Wynn and Caesars are two of the best known names in the gambling business; they both operate casinos on the Las Vegas strip, basically across the street from one another.

The Everett location does have some problems, last month Wynn acknowledged that the site, which is the former home of a chemical company, is contaminated and needs to be cleaned up.  According to Wynn, “That is part of the responsibility of the fellows that are selling us the property.”

The state gambling commission has set a deadline of January 15th for casino applicants to submit financial documentation and a $400,000 non-refundable fee. While Wynn has not yet submitted either of these things, he has asked the gambling commission for a briefing on its licensing procedures.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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