Everett's mayor, loath to see Wynn removed from casino project, says he has veto power – The Boston Globe

By Globe Staff  April 09, 2018

If Wynn Resorts wants to sell the massive casino it’s building on the banks of the Mystic River in Everett, it will need the blessing of Carlo DeMaria. And that may not come easy.

The Everett mayor said Monday that he’s “very disturbed” about the prospect of the project changing hands. DeMaria said he worries a new owner wouldn’t live up to the promises Wynn made – at the casino itself and in nearby neighborhoods – to secure its coveted license.

Everett’s agreement with Wynn gives the city the right to block a sale, he said.

Advertisement

“I believe I have veto power,” DeMaria said. “I will exercise those priorities if I have to.”

Get Talking Points in your inbox: An afternoon recap of the day’s most important business news, delivered weekdays.

DeMaria’s concerns are the latest complication for the $2.4 billion Wynn Boston Harbor project, the future of which was thrown into question after state gaming officials launched an investigation into the company’s integrity and financial stability. That followed sexual harassment claims against the company’s namesake — and now former — CEO, Steve Wynn.

Related Links Wynn may want to leave Mass.

On Friday, Bloomberg reported the new CEO has had discussions about selling Wynn Boston Harbor, and the New York Post reported that MGM Resorts has proposed buying the entire Wynn company.

Wynn officials declined to comment, other than to deny the MGM report and to say the company’s on track for a June 2019 opening of the Everett complex.

“The project is moving full speed ahead,” spokesman Greg John said.

Read More Here...

This entry was posted in Casino Gambling Stocks News. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Trackbacks are closed, but you can post a comment.