A giant what if regarding Encore And the future of the casino

The Massachusetts Gaming Commission is beginning Tuesday and ending Thursday three days of long awaited testimony that will lead to a number of possibilities that are all of extraordinary importance to the city of Everett and everyone who owns property here or who has applied for a job at the casino/hotel site almost completed.

These hearings will determine – the decision the MGC makes after hearing testimony for three days – will result in Encore being granted its license neat and clean, no fuss or mess about it.

That is the first possibility and perhaps the most unlikely.

The second is that the license will be granted but with conditionsand a huge fine.

This is entirely possible and bettors say it is the most likely of the outcomes we can outline here on this editorial page.

The third possibility, and considered most remote – but a possibility -is that the MGC will find Encore unsuitable to hold a license for casinogaming in Massachusetts.

Continue reading A giant what if regarding Encore And the future of the casino

Concealed

Gaming Commission Hearings into Suitability for Encore begins


By Josh Resnek

M a s s a c h u s e t t s  g a m i n g commissioners have begun the arduous courtroom like task of considering Wynn Resorts suitability to hold the casino license for the Boston area.

Those hearings began Tuesday and will be continuing until Thursday.

The outcome of these hearings is of gargantuan importance to the City of Everett and to everyone in a position of responsibility, starting with the mayor.

It is the mayor who brought Steve Wynn to Everett. The question of suitability, and more than that, of what was concealed during the vetting process comes less than three months before Wynn is set to open its $2.5 billion Encore Boston Harbor casino complex in Everett.

It is more than a year after Wynn founder and former CEO Steve Wynn resigned amid sexual misconduct allegations. One case led to a $7.5 million settlement.

The big question – what if the commission strips Wynn Resorts of its gaming license? Continue reading Concealed

Maddox Wynn stock worth $60,000,000

Leader Herald Staff Report

Wynn Resorts CEO Matt Maddox sold 18,900 shares of the firm’s stock in a transaction on
Monday, February 4th, the Security and Exchange Commission has reported.

The stock was sold at an average price of $124.15, for a total value of $2,346,435.00.

Following the completion of the sale, Maddox now directly owns 487,399 shares of the company’s stock, valued at $60,510,585.85.

The coming storm and will be vindicated or vilified when the Massachusetts Gaming
Commission announces whether Wynn/Encore will be deemed suitable to hold the gaming license it needs in order to open its doors in June. Continue reading Maddox Wynn stock worth $60,000,000

June 19 Casino Opening at Risk; City Must Prepare

This is not about doom and gloom.

It is not about being pro or anti-casino.

It is about a harsh reality; that the casino opening on June 19 is appearing to be less and less a possibility.

The city right now needs to be planning for a potential short – term economic crisis if the grand opening is put off for several months.

Continue reading June 19 Casino Opening at Risk; City Must Prepare

Mayor Suggested Using High School Age Kids to Canvas City for Casino Effort

Mayor Allegedly Said City Hall Employees Must Do as He Says or Face Repercussions

By Josh Resnek

During the last 30 days before the 2013 citywide referendum was held on allowing casino gambling in Everett, the mayor apparently offered up high school aged students, graduates, and members of the National Honor Society, to participate in a citywide canvassing scheme to aid in assuring Wynn officials a victory when all the votes were counted, according to information received by the Leader Herald.

The mayor expressed enthusiasm for hiring the high school aged kids to canvas for the gambling referendum for city hall so he could gather information about how voters were tending to think and to gauge how they might vote.

Continue reading Mayor Suggested Using High School Age Kids to Canvas City for Casino Effort