Winds of change blow as rumors circulate, owes city millions
By JOSH RESNEK
The reopening of Encore Boston Harbor’s casino was expected to begin on Monday. Wynn Resorts officials have moved that off another week.
At the same time, Governor Baker put off casino reopening in Massachusetts for a week, no matter what the private companies are planning.
Wynn Resorts officials are believed to be relieved with the reopening, but it does not go far enough to satisfy executives who know that a casino operating at less than half speed and capacity cannot cut a profit necessary to meet its obligations.
As a result, Las Vegas Sands Corporation, owned by one of the world’s ten richest men, Sheldon Adelson, is apparently willing, as well as financially able, to buy Wynn Resorts and add it to his worldwide gaming empire, according to a spate of casino trade magazine reports online.
Whether or not this happens is highly speculative and based on the comments of several higher-ranking Wynn Resorts employees who have access to inside information.
Matt Maddox, Wynn president and heir apparent to company founder Steve Wynn, has denied such rumors.
In today’s apocalyptic economic environment, everything is for sale at a lower or fairer price.
“The people up top are apparently saying that Encore Boston Harbor may have to be rebranded. This is not anything they want to do at the present time. Spending more money on the Encore investment in Everett to change it is not in the stars right now,” an employee told the Leader Herald.