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MGC Decides on Wynn Resorts’ Boston Area Project in December

Wynn Resorts, a popular casino brand in the United States, will find out in December whether it will be allowed to push ahead with a long-planned property in the State of Massachusetts.

New Opportunities in Massachusetts

Established casino brand Wynn Resorts has been trying to push for a new casino project in Boston, Massachusetts. However, the efforts have been met with a sort of a mild opposition from the state, which will now sit down to decide whether the project can be given green light.

The Massachusetts Gaming Commission (MGC) convened on Thursday and discussed varying issues related to the potential opening of a new property and commenting on former CEO Steve Wynn’s misconduct and harassment of female employees. MGC executive Edward Bedrosian informed commissioners that the organization’s findings would not be published until early in December.

It has been now almost 10 months since the MGC started its probe into the misconduct of Steve Wynn who had to resign in January, 2018 over surfacing evidence that he had assaulted and harassed female cleaning staff at the premises of company-owned property. The probe now investigates whether other high-ranking members of the Wynn organization were aware of Mr. Wynn’s behavior.

“It would be at the beginning of the actual hearing the report, with any redactions, will be made public. With all that in mind, I anticipate and hope that we can have any pre-hearing motions, again if any, heard some time in November with the actual hearing happening sometime the first two weeks of December. – MGC Executive Edward Bedrosian”

Finding evidence to support the claim could endanger the Boston-area casino, which is a project going back four years, when it was okayed in 2014. The so-called Encore Boston Harbor is a massive undertaking that costs the company $2.4 billion.

However, there have been other complications beyond Mr. Wynn’s assaults and harassment, with the license becoming a controversial issue and leading to the stepping-down of MGC Chair of the Board Stephen Crosby.

The Report Everyone’s Waiting For

MGC is now in the final stages of conducting its investigation. Bedrosian has informed media and commissioners that the upcoming report will most likely be hundreds of pages long and it will be handed to both Wynn Resorts as well as individual commissioners sitting on MGC.

If the report can conclusively demonstrate that Wynn executive knew of Mr. Wynn’s behavior and were complicit by not intervening, the state may begin an unprecedented procedure of taking over the multi-billion project. This is a scenario that Wynn Resorts will most certainly challenge in court, but it’s one that nonetheless would be another blow to their reputation.

Since the scandal broke out in January, Mr. Wynn has found himself in a difficult position. First ousted of the managing structure of the company and then attacked to give up control in the company his family built, he has seen a lot of serious challenges on his authority.

However, this is beyond Mr. Wynn now as the very existence of an important project is hanging in the balance.

Julie Moraine

With 4 years experience as an analyst, Julie—or ‘Jewels’, as we aptly refer to her in the office—is nothing short of a marvel-worthy in her attention to the forex and cryptocurrency space as she quickly became the first pick to co-pilot education to the masses with Mike.