Mayor Carlo DeMaria has a passion for backdoor deals or pressuring someone to do his bidding.
This becomes apparent in the book “Encore” or “Steve Wynn’s Last Casino,” which will be coming out in the summer.
In 2009, FBT Everett Realty (a partnership with Paul Lohnes, Anthony Gattineri, Charlie Lightbody, and Gary DeCicco) did an end run around multimillionaire-trash man Billy Thibeault to gain control of 36 acres that was the Monsanto site in Everett.
Thibeault has gone on to become a major businessman and is a hugely successful developer.
The casino and hotel, built at a cost of $2.6 billion, stands largely empty today.
Gattineri and Lightbody were indicted by the federal court and later exonerated when the contrived government case against them fell apart with a jury finding them innocent.
DeCicco, the original landowner who put the land deal together, became the fall guy in all of this mess.
The FBI chased him and hasn’t stopped chasing him or portraying him as a gangster.
I knew a guy who worked tirelessly at his business, a specialty steel fabrication plant for large chemical plants throughout the United States. He was up early in the morning and stayed until his last employee was done. He worked weekends, worked holidays and missed vacations. His business, for a while, was successful, until it was not. The large plants that were his primary clients started sourcing to India, China and South Korea. The one day, the bank called his note and the company went bankrupt. The man lost his life’s savings. That man was my Dad.
There was no bailout package for his small company and many like it that were put out of business through pressures that were not of their own making. Large corporations have for years outsourced much of their manufacturing to cheaper labor in other countries. Labor unions were often criticized for wages that were too high, leaving the United States unable to compete. Corporate America justified and embraced supply chains that spanned the world but allowed them to maximize profits. Now, those same companies want a bailout. That hardly seems fair.
Wynn Resorts CEO Matthew Maddox took over the company in a crisis that would have tested the most seasoned executive. As the right-hand-man to Steve Wynn for nearly 20 years, Maddox not only learned from the casino magnate but earned his respect. Now Maddox is considering whether the company stays in Boston or moves on.
The Massachusetts Gaming Commission (MGC) gave its decision on Wynn’s suitability last week with a number of conditions, including a fine of $35 million for the company and $500,000 for Maddox. While one would think Wynn/Maddox would cut the checks and move on, MGC’s wording in its decision may cause problems for Wynn down the road … or it could offer a way for Wynn to bow out gracefully.
Wynn Resorts is nearing completion of its $2.6 billion casino here that is scheduled to open in June 2019 …. that is IF Wynn Resorts is found suitable to hold a gaming license in Massachusetts.
Starting this week, the Massachusetts Gaming Commission (MGC) will start to look at details of its investigation into sexual harassment actions and coverup of those actions by senior executives at Wynn.
The investigation was launched after a Wall Street Journal report detailed years of sexual harassment allegations at Wynn, mostly by its co-founder and CEO, Steve Wynn. Multi million dollar settlements with former female employees at Wynn and decades of inaction by senior staff led the Nevada Gaming Control Board to levy a fine of $20 million against Wynn, the largest ever in Nevada state gaming history.