According the Wall Street Journal, talks are underway between MGM Resorts International and Wynn Resorts for the latter to be shot of Wynn Boston Harbor, which has become a regulatory albatross around Wynn’s 
neck. Although this would mean giving almost the entire Massachusetts casino market to one company, Massachusetts Gaming Commission Chairman Stephen Crosby sees nothing wrong with that. (Mohegan Sun, which is suing over losing to Wynn, would have new ammunition, though.) But while a Wynn-to-MGM transaction may well pass the MGC’s flight test, it runs into choppier air where Everett Mayor Carlo DeMaria is concerned. He is “very disturbed,” he says, particularly since Wynn made certain covenants with Everett that DeMaria would like to see kept.
Opined Deutsche Bank analyst Carlo Santarelli, “We continue to believe WYNN exits the MA development project and,
based on our investor meetings and recent media speculation, we believe this view has become Consensus.” While not taking any sides, Gov. Charlie Baker (R) said DeMaria and the MGC “have major roles to play in whatever happens on that site, as they should.” The commission is busy at the moment fending off criticism for having known about Steve Wynn‘s paternity settlement one month before his company was licensed, yet doing nothing with the information. Steve Wynn himself has gone into a sulk and is refusing any further cooperation with Massachusetts’ investigation of his former company.
* Global Gaming Business really did its homework on the current state of sports-betting legislation. Long story short, expect a crazy quilt of laws from state to state and no magic bullets in terms of money raised. Both Kansas and Missouri are going forward with revenue-killing “integrity fees” for the major sporting leagues. Different advocates of sports betting have different rationales. Missouri state Rep. Justin Alferman says, “If federal law allows, Illinois and Kansas are going to have sports betting. If we set a [tax] rate higher than them, our two main population centers will go across the border.” Down in Louisiana, politicians are lumbered with a $648 million budget shortfall, prompting state Sen. Danny Martiny to cut to the chase: “This isn’t my life’s passion. I’m just telling you we’re broke.”
In Illinois, Tom Swoik, Illinois Casino Gaming Association executive director, sees sports betting as a way to make back revenue lost to slot routes, However, he balks at a proposed 10% tax rate. “If the taxes and these fees that are paid to operate sports books are so high, then the payouts can’t be as high as sometimes what’s being paid out in illegal betting,” Swoik safety. In other states, Minnesota is just starting the conversation while Maryland dallied so long that it won’t be able to consider legislation until 2019 nor hold the necessary constitutional referendum until 2020. Epic fail, guys.
