Quantcast
Channel: News
Viewing all articles
Browse latest Browse all 62489

Will Wynn Boston Harbor drop the Wynn name as casino mogul faces sexual misconduct allegations?

$
0
0

The Massachusetts Gaming Commission is reviewing Wynn Resorts' suitability as a holder of a casino license.

It was initially called "Wynn Everett." Then they changed its name to "Wynn Boston Harbor."

The planned $2.4 billion casino is not on Boston Harbor - if completed it'll overlook the Mystic River in the city of Everett -- and by the time it's built the massive building may not carry the "Wynn" name at the top, either.

But that depends on multiple things, including what actions the Massachusetts Gaming Commission takes after the bombshell Wall Street Journal report on casino magnate Steve Wynn's alleged sexual misconduct; what the Wynn company's board of directors does as part of its response; and the distance local elected officials seek from the man who has poured hundreds of millions of dollars into the economy, the housing market and the remediated site that once had a chemical plant on top.

Wynn has denied the misconduct allegations and his company, which holds the lone casino license for eastern Massachusetts, has said they're committed to cooperating with the commission's review. Its board of directors is also investigating the allegations.

There's been no talk of delaying the opening.

Wynn Boston Harbor: When it opens, what it will offer and just how massive it is

Steve Wynn is closely associated with his casinos and restaurants and he is tightly overseeing the construction of Wynn Boston Harbor. Addressing members of the Greater Boston Chamber of Commerce last year, he said the design of the Boston area casino, complete with a floral carousel and a $28 million Popeye sculpture, is influenced by the "primordial sources of life."

The Massachusetts Gaming Commission's investigators plan on Wednesday to offer an update on the ongoing regulatory review spurred by the Wall Street Journal report. No votes are expected to take place and the discussion appears limited to agency staffers and its commissioners. 

The five-member Gaming Commission has previously looked into Wynn's suitability, since the state gambling law that authorized up to three Bay State resort casinos calls for license applicants for show integrity, honesty and good character. The commission has the authority to revoke licenses.

"Based upon the comprehensive investigation of Stephen Wynn, the investigation did not reveal any information that would preclude a finding that he possesses the requisite integrity, honesty and good character that are statutorily mandated," its 2013 report said.

The report, totaling about 200 pages, said there should be one condition to granting the license: that Wynn talk about his business practices in Macau. Alleged sexual misconduct did not surface in the report.

The Wall Street Journal story, published Friday, led with a manicurist who was allegedly paid a $7.5 million settlement after allegations that he demanded sex.

The newspaper said that broadly came up in a lawsuit filed by Wynn's ex-wife, Elaine Wynn, over stock sale restrictions.

Steve Wynn told the newspaper he blamed his wife for the surfacing of the allegations and he is in a "terrible and nasty lawsuit" with her.

The Gaming Commission's 2013 report also looked into Elaine Wynn. "Elaine Wynn is described by her references as being incredibly smart, thoughtful and warm hearted," the report said. "She is further characterized as someone who is straight forward and honest with an impeccable reputation."

Wynn Resorts stock prices drop after CEO Steve Wynn accused of sexual misconduct

As for the company, the Wall Street Journal noted that Wynn Resorts, having lost $3 billion in market value after the newspaper's original report, may have to "sell, or to break up, regardless of whether Mr. Wynn stays." 

And the elected officials? Gov. Charlie Baker has said he is appalled by the allegations, and if they are true, Wynn does not meet the suitability standard laid out by the state's gambling law.

Others have been quieter.

In 2016, after Wynn bantered with reporters at a 2016 press conference where he delighted in showing a model of the Wynn Boston Harbor casino, Everett Mayor Carlo DeMaria was exuberant.

As Wynn turned to leave and his entourage started to clear the room, DeMaria shouted, "Wynn for president!"

On Tuesday, a day before the Gaming Commission was set to meet, DeMaria's office did not respond to a request for comment.

Gov. Charlie Baker says Republican Governors Association should not accept any more money from Steve Wynn


Viewing all articles
Browse latest Browse all 62489

Trending Articles



<script src="https://jsc.adskeeper.com/r/s/rssing.com.1596347.js" async> </script>