By Josh Resnek
The long-awaited investigation by the Massachusetts Gaming Commission into Wynn Resorts suitability to own a gaming license remains locked up tight at MGC headquarters awaiting the outcome of legal efforts in Las Vegas.
The investigation’s results, which were to have been released at the end of the summer, then at the end of November, then December, and now still not released half way through January, are held up due to Steve Wynn’s lawsuit being given close scrutiny by legal officials in Las Vegas.
Lawyers for the MGC have been sparring with Wynn’s army of Nevada lawyers over what can be used in the MGC investigation report and what cannot.
According to Wynn’s lawyers, the MGC and its chief investigator Attorney Karen Wells stepped over the boundaries of what is right and wrong in using certain information Wynn claims cannot be publicly aired due to client-lawyer privilege.
Massachusetts’s lawyers representing the MGC have asserted that Wynn’s law suit is a ruse and a fake intended to delay the release of the Massachusetts report. Whatever the lawyers believe, the MGC report cannot be released until the judge in Las Vegas says so.
The imbroglio is destined to foul the waters for a scheduled June opening of the casino if it goes on much longer.
If the legal proceedings become protracted, the opening will be pushed back.
This would be a disaster for the city.
The MGC investigation could be a disaster for the city if Wynn Resorts is found unsuitable to hold a gaming license.
Most experts and players in the casino scene concede that it is very unlikely for the MGC to determine that Wynn Resorts is unsuitable.
“It is most likely the MGC will fine Wynn Resorts $50 million and speak sternly about how the game is played and then to concede they license is OK.
Bingo.
The doors open in June and everything flows neatly after that.
However there are presently four billion dollar lawsuits now lodged against Steve Wynn and Wynn Resorts.
Even FBT Realty’s law suit, which is seeking to be paid the $40 million given back to Steve
Wynn for the sale of the land, is apparently moving forward brilliantly.
“They are very likely to be paid,” said an official close to the proceedings.
If the license is taken from Wynn Resorts/Encore, a conservator will be appointed to preside over the sale of the property and the awarding of a gaming license to a new, and likely more suitable owner.
Let’s see what happens.
Right now, it’s all eyes on the legal system in Las Vegas.