Steve Wynn Joins the Competition for Casino licence in Massachusetts

Steve WynnDue to changes in Massachusetts’ gaming law there will be three casino licences available to casino operators. There is only one licence on offer in each of the state’s three regions and competition is quite stiff. Casino operators who wish to be considered for one of the licences have to pay a non-refundable deposit of 400 000 dollars to the Massachusetts Gaming Commission. (See article : MGM Resorts International Applies for Licence to Build Massachusetts Casino).
This fee is part of the Phase 1 application for the casino licence and applicants also have to return a form concerning their finances and other details by the January 15th 2013 deadline.
Steve Wynn, the Las Vegas casino magnate is again expressing interest in constructing a casino in Massachusetts. Wynn’s fortune is valued at around 2.5 billion dollars. He owns the Las Vegas Wynn Casino and also owns a luxurious casino resort in Macau. An earlier deal to build a casino in the state involving Wynn and the Kraft group fell through. Even after last year’s plans coming to nothing Steve Wynn is said to have sent executives to a site in  Massachusetts, in Everett, as a possible place to construct a casino resort. It is expected that Wynn himself will visit the site.
The Everett site is in eastern Massachusetts and the licence for this area is looked on as being quite lucrative as it would contain many potential casino customers. The main competition for the casino licence is coming from a partnership between Caesars Entertainment and Suffolk Downs. It appears that Suffolk Downs has paid the 400 000 dollar deposit but has not yet sent in its Phase 1 application form.While there are few contenders for the eastern Massachusetts licence at the moment, there are many more interested in the western Massachusetts’ licence. Some major players in the casino world have applied for this licence as is also true for the licence to be granted in the east of the state.
So far the companies vying for the west Massachusetts’ gambling licence include Penn National Gaming, Ameristar and MGM Resorts International. MGM like Suffolk Downs has already paid the Massachusetts Gaming Commission a non refundable fee to start the process of applying for a gambling licence. It remains to be seen which groups including Steve Wynn’s  will progress to Phase 2 of the licensing process.

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