“Boston is not up for sale. I like that market. I found the land. I pursued that deal. I entered the agreement with the host community five years ago. I liked that market then. I like that market today.” So said Wynn Resorts CEO Matt 
Maddox slightly more than one year ago. What a difference 365 days make. Now, facing a $500,000 fine and mandatory personal instruction in becoming a better CEO, Maddox is apparently only too happy to be shot of Encore Boston Harbor. One of the sticking points of the Massachusetts Gaming Commission‘s proposed settlement with Wynn Resorts is what Global Gaming Business describes as “an appointed public monitor who would have almost carte blanche over operations of the property to ensure that the corporate changes instituted in the wake of the Steve Wynn scandal are carried out.” As casino expert Clyde Barrow told the Boston Globe, “probably Wynn Resorts wants to wash its hands of Massachusetts and move on.”
Also, there’s the little matter of the $35 million penalty that Maddox is manifestly unwilling to pay, saying, “However, we are still reviewing the decision as it relates to some of the secondary and tertiary conditions imposed by the commission. We do not believe if we choose to appeal that that will impact our ability to open the project at the end of June.” Worse news, perhaps, for any potential buyer is that Maddox—in a moment of revisionist history—says the property will only ramp up slowly and not hit its stride for a year to come. Who’s going to shell out top dollar for a casino-resort that is expected to underperform for its first year?
For the moment the MGC is confronted with a $2.6 billion trophy property that’s been essentially emblazoned with “For Sale” in giant, red letters. 
Unfortunately for Wynn, MGM Resorts International may be prohibited by statute from riding to its rescue (ditto Penn National Gaming) while thwarted developer Mohegan Sun now says it’s not interested in taking over the property. MGM has its own problems in Springfield (perhaps one reason it is making sheep’s eyes at Boston), where revenue fell 15% from March to April, as Mayor Domenic J. Sarno wrings his hands helplessly hoping that MGM doesn’t leave his city in the lurch. Also, Wynn Resorts has to receive a mandatory release from the City of Everett to transfer its right of ownership to Encore Boston Harbor.
Through a spokesman, Everett Mayor Carlo DeMaria said he is “not amused” by the footsie being played between MGM and Wynn Resorts, while—in a sudden fit of magnanimity—Boston Mayor Martin Walsh (D) is saying the 
MGC’s casino-license award to Wynn Resorts cannot be second-guessed. That said, he’s against rebidding the property, begging the question of how the mess was to be solved: “In fairness, you have a $2 billion building built in Everett, I don’t think you can do that, that wouldn’t be fair to the people of Everett and I don’t think it would be fair to this region. I wouldn’t want to start the process all over again, absolutely not.”
Everett City Councilor Mike McGlaughlin minced fewer words: “Ninety percent of residents voted in favor of a host community agreement with Wynn Resorts, a five-star resort destination, and not for a three-star resort, which is MGM.” Ouch! As for restless MGM, Springfield City Council President Justin 
Hurst remarked that it is “difficult and disheartening to hear considering it is somebody that’s been such a good partner over the last few years has the potential to leave this city, especially one we felt so much optimism by their presence here.” But Everett’s DeMaria may have the final say. As spokesman George Regan said, “The mayor had the foresight that something like this could occur and to protect the city, he put in Section 10 that gives the mayor ultimate veto … He’s not going to allow the city of Everett to be taken for granted.” Nor should he.
* While the Lucky Dragon doesn’t have a new name yet, owner Don Ahern hopes to have it reopened as a hotel in the next 60 days. He also told the Las Vegas Review-Journal that the repurposing of the casino floor into a convention area would be probably be completed by Thanksgiving. If you’re looking for a metaphor for conventioneers’ ascendancy over gamblers in Sin City, look no farther.
* Gaming companies are supposedly fretful over the question, “Will Las Vegas become the next Amsterdam?” Worse things also could happen. Also, Big Gaming seems rather hypocritical worrying about cannabis-connected debauchery after years of promoting irresponsible behavior with slogans like 
“What happens here, stays here” and “Shut up and play.” If the Nevada Gaming Commission were to allow them to dabble in cannabis, the major gambling companies would jump in with both feet. Clark County Commissioner Tick Segerblom (left) calls them on it: “They’re worried the longer this goes outside hotels, the more established they’ll get. As a business person, I would be concerned too.
Added UNLV International Gaming Institute‘s Bo Bernhard, “It’s a fascinating chapter that will be interesting to see whether they’re something that draws folks – and, of course, there are concerns it will draw folks away from the resorts.” The Nevada Resort Association‘s Virginia Valentine insists otherwise. “As long as it’s federally illegal, we can’t have it on the property,” she told a reporter. “We’re trying to create that separation.” Bernhard cuts to the chase: “The nightclub is a place where margins based on massive mark-ups of things like bottles of alcohol are generating huge amounts of money to the bottom line. Something that obviously threatens that revenue stream is something that is going to be a concern.” Should we say the casino industry is worried about profits going up in smoke?
“Ninety percent of residents voted in favor of a host community agreement with Wynn Resorts, a five-star resort destination, and not for a three-star resort, which is MGM.” “Ouch” is right!