EVERETT, MA-Wynn Resorts on Wednesday unveiled the first renderings of a proposed $1.3-billion casino resort on the banks of the Mystic River here. The 19-story property would be built on the brownfield site of a former Monsanto Chemical Co. plant and would feature approximately 550 guest rooms.
It marks the casino developer's second attempt to build in Massachusetts since casino gambling was legalized in the Bay State two years ago. The plans for the resort were discussed at a news conference Wednesday afternoon with Everett Mayor Carlo DeMaria and Wynn COO Gamil Aziz.
At a conference call for Everett residents this past Thursday, chairman and CEO Steve Wynn touted the benefits of Wynn Everett. He cited its “family friendly” nature, as well as the preferential consideration that Everett residents would receive in filling the resort's 4,000 job openings and the tens of millions of dollars in property taxes the project would generate for the city's coffers, along with providing an annual impact fee to the city's general fund that could be used to lower taxes, invest in schools and fund other civic services. Further, a web page for the proposed resort cites its potential as a catalyst for economic growth along the Lower Broadway corridor in Everett.
Under the Massachusetts law that legalized casino gambling, host community support is among the hurdles for would-be developers. A January editorial in the Everett Independent newspaper offered such support: “We daresay that Wynn's proposed $1-billion casino on the site of the former Monsanto plant along the Mystic River is the biggest thing to hit this city in its long history,” the paper's editors wrote.
The law also limits casino licenses to just three statewide, one for each region of the state. Wynn's proposal is vying with two others for eastern Massachusetts. Along with Wynn Everett, there are proposals from the Suffolk Downs racetrack and partner Caesars Entertainment, which plans to build in East Boston; and from a partnership of Foxwoods and Crossroads LLC, which aims to develop a casino resort off Route 495 in Milford.
Since the project will be built on the banks of a river—in contrast to the landlocked properties for which Wynn is famous in Las Vegas—it will incorporate a river walk and boat docks. If the project is approved, construction is estimate to take between 24 and 30 months.
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