Wynn Resorts heads for trouble over Mystic River property purchase

mysticriver

US casino and leisure operator Wynn Resorts has finalized its $35 million purchase of a contaminated former Monsanto chemical plant property along the Mystic River in Everet Massachusetts  on which it plans to build a $1.6 billion casino.

Wynn Resorts stated yesterday  that the purchase of the former chemical plant was a key step toward starting clean up the 33-acre area needed for the eventual construction. Nevertheless the acquisition of the property had been dotted with controversy. On Monday Boston Mayor Martin Walsh had filed suit against the Massachusetts Gaming Commission, arguing area residents should have a vote on a $1.6 billion casino planned by Wynn Resorts in nearby Everett.

The commission last May denied the city’s request to be designated a host community for either the Everett proposal or a competing plan for a casino in Revere. The commission later awarded Wynn the sole eastern Massachusetts resort casino license.

Construction planning indictments returned in October charged that the former owners of the property attempted to conceal the fact a convicted felon and known mob associate stood to profit from the sale.

Wynn Resorts officials state that they had no knowledge of the alleged hidden ownership, which earlier prompted Massachusetts regulators to approve the deal that lowered the original $75 million purchase value to $35 million.