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Mass. Gaming Regulator Announces Wynn Resorts License Fate in September

This summer has been one of the most heated for international casino developer and operator Wynn Resorts which is threatened by Massachusetts operation license revoking ever since the spring. Now it has been confirmed that the state gambling regulator is going to issue its ultimate decision on the subject this September, shedding more light on the state’s gambling future.

At the moment there are two parallel investigations in progress in relation to the casino developer which ranks it among the highly discussed topics in the area. The first subject which is being thoroughly examined by the Massachusetts Gaming Commission dates back to the beginning of this year when the former Chief Executive Officer Steve Wynn was accused of alleged sexual misconducts occurring at the workplace and involving his subordinate employees. The criminal allegations which swirled around the casino tycoon Steve Wynn led to a rapid development in his career and in the gambling world as a whole, triggering safety measures tightening.

There has also been an alleged $7.5-million arrangement settled between Mr. Wynn and a manicurist as a hush money, which was kept secret and not disclosed to the authority prior to the investigation. Massachusetts Gaming Commission would make sure the enquiry comes to an end by the end of August so that it could also give experts time for a review on the matter. This suitability evaluation could prove to be crucial for the future operation of Encore Boston Harbor, set to launch operation in June 2019.

Just like in every other sphere of our life mistakes could occur and the gaming commission opted for a re-evaluation of the licensing it issued to Wynn Resorts in December 2013. This, in turn, led to the unearthing of more information regarding the nature of one of the previous owners of the land where the $2.5-billion integrated resort rises. In late 2012 the Boston Business Journal identified one of the previous FBT Everett Realty owners as a convicted felon.

However, at that point, the said partner had already left the group and shortly after that Wynn signed a deal for $75 million. Charles Lightbody had convictions ranging from assault, grand larceny and identify theft, as well as being an associate of La Cosa Nostra.

Multiple Investigations in Progress Strive to Bring Clarity

In addition to the misconducts investigations led by Massachusetts, Nevada gambling regulator was also conducting its independent detailed examination of the matter, seeking to reveal more and bring answers to the field. Wynn Resorts itself was also adding up to the examination picture with its own examination of the matters, which came to a conclusion on 3rd August.

It could be recalled that 26th January witnessed a special committee being formed in order to conduct the said project in collaboration with Gibson, Dunn & Crutcher LLP as an additional counsel on the matter. Macau, the booming gambling hub where Wynn Macau Ltd. oversees the operation of another two casino resorts is also in the inspection process, striving to bring more clarity to the overall situation and to aid the rest of the authorities.

For the time being, however, no official statement has been issued by either of the authorities, as the final decision of Massachusetts Gaming Authority is anticipated next month. It should be taken into account that the regulator has the right to revoke the gambling permit of Wynn Resorts or slap a hefty fine on the operator if the situation calls for it. It has been recently confirmed that current CEO Matt Maddox has conducted several unofficial conversations in relation to the sale of Encore Boston Harbor.

It could be recalled that this is not the first time when the possibility has been considered, as this spring saw the company considering a sale to either Caesars Entertainment or MGM Resorts. When all was said and done and offers were on the table, however, Wynn pulled out of the discussions.

More information would be revealed on the subject in the upcoming weeks, in addition to the long-anticipated decision of the state authorities. The potential license revoking could bring a new player to the field, obtaining one of the three casino resort premits in the state. MGM Resorts would open its latest location in Springfield this Friday, also dubbed the first commercial casino on a state level, striving to diversify offerings.

 Author: Harrison Young

Harrison Young is an experienced writer, who started his career almost 8 years ago. Prior to joining our team at CasinoGamesPro, he worked as an editor for a small magazine.