The Making of The Deal

Not Like You’d Imagine

Casino4.jpg
The Encore Casino main entrance.

By Josh Resnek

At the beginning of a major negotiation with Attorney Kim Sinatra in March, 2013, she and the mayor talked about the new pope.

‘What do you think of the big new pope,” Sinatra asks the mayor, according to credible information received by the Leader Herald.

“I can tell you he’s surprised,” the mayor tells her.

“Its not a good job,” Sinatra says.

“At least he’s Italian born. We’re somewhat happy about that,” the mayor says to her, according to information received by the Leader Herald.

The discussion gets down to the nitty gritty pretty quickly.

“I haven’t gotten the agreement. Have you sent it to me?” Sinatra asks the mayor.

“We’re sending it out this afternoon. You guys should be happy,” the mayor tells her.

“There’s some language. Nothin crazy…” the mayor tells her.

“How can we figure how to do this up?” she says, again, according to information received by the Leader Herald regarding the interaction concerning the final tally of the money deal between Wynn Resorts and the city of Everett.

This long before Sintra resigned her position as chief counsel to Wynn Resorts.

‘What do you think of $25 million in taxes?” the mayor asks Sinatra.

“What did Matt offer(Matt Maddox, company vice- president before Wynn resigned)?”

“$15 million,” the mayor tells her, according to information received by the Leader Herald.

“He’s going to struggle with that higher figure you’re suggesting,” she replies.

A wide ranging give and take discusses the money angle of the deal.

The mayor says $20 million is too low.

He wants $25 million and a $5 million community impact money – a total of $30 million.

At one point he apparently asks: “Can I get the whole $30 million up front?”

“I could accelerate it but I’d need relief from the $25 million,” she tells him.

The mayor changes his mind and accepts $25 million.

‘That’s a good number,” he tells Sinatra, according to information received by the Leader Herald.

Sinatra decides they can play with the timing of the $30 million total.

“$30 million is a lot of money Mr. Mayor,” she apparently tells the mayor.

Yeah but this money goes to a list of projects. Its all great,” the mayor tells her.

Sinatra expressed some frustration about the time the transaction numbers were taking to arrive at.

‘Can we close it off quickly? What do you need for your own well being in your home town?” she asks the mayor.

The mayor hems and haws and then he answers: “This is about longterm benefits – God willing – Steve Wynn stays alive for 20- 30 years. He can donate trees to be planted by the Beautification Committee. He can donate computers for a half million to the schools…”

The mayor tells Sinatra he considers the casino deal a good deal, a decent proposal.

‘Let Matt know I feel good,” he says to her.

He tells Sinatra that Wynn is great.

“He is the best developer in the universe. As a former degenerate gambler, I’ve studied him for years,” the mayor said.

Sinatra orders the mayor to get the proposal out to her.

“Let’s lance the boil. Let’s go,” she says.

Sinatra has since resigned.

Steve Wynn, founder of the company, resigned before Sinatra following the Wall Street Journal Investigative report that appeared about six months ago.

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