The design of Wynn’s proposed hotel tower in Everett took some knocks during the gaming commission’s deliberations, but Wynn has an edge in other areas.
Jon Chesto
Managing Editor, Print- Boston Business Journal
Heading into the final stretch, Wynn Resorts seems to have a slight lead over Mohegan Sun as the Massachusetts Gaming Commission prepares to decide which developer should get the Boston-area casino license.
All of the written evaluations from the four commissioners participating in the debate — chairman Steve Crosby is sitting this one out, because of conflict-of-interest concerns — are now up on the commission’s website, for the world to see.
Mohegan’s Revere project wins some points in design, for example, while Wynn’s Everett project gets points for its stronger financial backing. It’s a close race, when you add them up, but Wynn has a sight edge based on all the recommendations.
But the commission still needs to discuss these findings submitted by individual members and take a vote, a decision that could happen by the end of this week or sometime next week. The commissioners could very well complicate matters by adopting some of the proposed stipulations for the licensees, a process that would spark another back-and-forth between the developers and the commission. And all this work could come to naught if voters repeal the state’s casino law in November.
But here’s how things stand, as the commission begins its final deliberations on the Greater Boston license.
Building and site design: Wynn loses to Mohegan here, with commissioner James McHugh taking issue with the design of Wynn’s hotel tower while praising Mohegan’s design for its project, saying it’s attractively styled and fits in well with adjoining neighborhoods. Advantage: Mohegan
Finance: Wynn easily trumps Mohegan in this category, as overseen by commissioner Enrique Zuniga, in two key aspects. Zuniga’s report takes issue with Mohegan’s financing plan, saying it’s complex and, by some measures, highly leveraged and also notes that Mohegan doesn’t plan an aggressive enough marketing approach outside of Greater Boston (presumably to avoid competing with the flagship Mohegan casino in Connecticut). Wynn, Zuniga reports, has the financial strength to respond to marketplace changes that will likely occur and plans to market itself to a high-end audience from a broader geography. Advantage: Wynn
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