Steve Wynn Looking At Former Monsanto Chemical Site For Massachusetts Casino
Casino Boss Expected To Visit Site This Week: Report
Billionaire casino developer Steve Wynn is thinking about a new site for a full-scale gambling operation in Massachusetts, the Boston Globe reported Monday.
The potential project comes a handful of months after Wynn and New England Patriots owner Robert Kraft were met with fierce resistance over their Foxborough casino plan. The spot for the latest idea is known as the former Monsanto Chemical site, according to the report.
If constructed, the casino, located in the town of Everett, would sit about three miles outside of Boston. According to the Globe, Wynn is expected to check out the site this week.
The state passed a bill last year allowing for three Las Vegas-like casinos to arise from Massachusetts soil. Other firms are in talks elsewhere regarding their respective possibilities.
Winning bidders must pay an $85 million license fee and invest at least $500 million in their project. Wynn had proposed a $1 billion joint in Foxborough. There’s no indication yet on what Wynn would want to spend in Everett.
After signing the legislation into law, Gov. Deval Patrick said the move was about jobs.
In addition to the Boston-area plan, Wynn, 70, is poised for a possible showdown in Philadelphia with local real estate mogul Bart Blatstein. Wynn wants to build a casino along the Delaware River. Pennsylvania has become one of the hottest gambling markets in the country.
While the company continues to seek investments in other American states, online gambling is on the horizon in Nevada. Like its chief competitors, Wynn Resorts Ltd. has applied for a license and looks to eventually take action from gamblers at home.
Follow Brian Pempus on Twitter — @brianpempus
Photo of location via Google Maps.
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