GGRAsia – Wynn Resorts expands site for casino near Boston

Wynn Resorts expands site for casino near Boston

Mar 04, 2015 Newsdesk Latest News, Top of the deck, World

Casino developer Wynn Resorts Ltd has acquired more land for its planned casino site near Boston, Massachusetts, in the United States. The casino operator on Tuesday announced it closed a deal on a 1.75-acre (0.71- hectare) site purchased from the Massachusetts Bay Transportation Authority for US$6 million.

The deal “culminates a lengthy public bidding process” and advances the construction of Wynn Everett (pictured in a rendering), the casino operator said in Tuesday’s press release.

The plot is adjacent to the 32-acre Wynn Everett site located off Route 99 in Everett, along the Mystic River. Wynn Resorts plans to convert the site – that previously housed a Monsanto Co chemical plant – and turn it into a US$1.6 billion gaming resort.

Wells Fargo Securities LLC said in a note on February 4 that Wynn Everett was “expected to cost US$1.75 billion”.

“The process of building Wynn Everett is moving forward exactly as planned,” Robert DeSalvio, president of Wynn Everett, said in the press statement.

Wynn Resorts said pre-construction soil boring has been ongoing for several months at the Wynn Everett site. Site preparation and remediation is expected to start “in the summer of this year,” it added.

“After an extended period of public process and due diligence, we’re checking off the boxes and hitting the milestones we need to hit,” said Mr DeSalvio.

“Right now, there are teams of people in Massachusetts and Las Vegas working around the clock to make sure that permitting [sic], design and planning continue to progress smoothly and building can start as soon as possible,” he added.

The Massachusetts Gaming Commission in September confirmed Wynn Resorts as the winner of a casino gaming licence for Greater Boston.

The firm’s chairman Steve Wynn said in September that Wynn Everett would be an international standard property that will attract Chinese and other Asian customers.