Encore Boston Harbor Casino | 1 Broadway | Everett

cadetcarl said:
Luckily, no one cares.
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Tell that to the families struggling to maintain section 8 status in and throughout the city. Most of them are on borrowed time.

No need to live in a city if your poor. :(

No one cares including the overall public representatives that represent this state.
 
Who gets a gig at the MA Gaming Commission? I see it as a career path in a big gambling state like NV, but in MA? Did they bring people in from NJ and NV or is it a political insiders, cousin of a friend of a guy I know type thing?
 
So MGM would also have to sell Springfield... I believe companies are precluded from more than one license.
 
What casino exec could look at gambling revenues (in New England, the US, the world, take your pick) and think "The market is begging for another casino!"? Other than Monte Carlo, which even if Encore had plopped their casino on Beacon Hill instead of Everett-by-the-Oil-Tanks is making an apples to oranges comparison, casino revenues are down, visitors are down, and most tellingly, the average age of patrons is rising into Tucker Carlson-viewership territory. So why keep building them?
 
HarvardP said:
What casino exec could look at gambling revenues (in New England, the US, the world, take your pick) and think "The market is begging for another casino!"? Other than Monte Carlo, which even if Encore had plopped their casino on Beacon Hill instead of Everett-by-the-Oil-Tanks is making an apples to oranges comparison, casino revenues are down, visitors are down, and most tellingly, the average age of patrons is rising into Tucker Carlson-viewership territory. So why keep building them?
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Because even with declining revenue, casinos remain insanely profitable.

And our population demographics are aging into Tucker Carlson-viewership territory too, so that is just following population trends.
 
HarvardP said:
What casino exec could look at gambling revenues (in New England, the US, the world, take your pick) and think "The market is begging for another casino!"? Other than Monte Carlo, which even if Encore had plopped their casino on Beacon Hill instead of Everett-by-the-Oil-Tanks is making an apples to oranges comparison, casino revenues are down, visitors are down, and most tellingly, the average age of patrons is rising into Tucker Carlson-viewership territory. So why keep building them?
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Gone are the days of plunking a casino in the middle of nowhere and automatically making money. 5 minutes from Boston should do just fine though.
 
Well, this may turn into nothing. Executives of public companies have a fiduciary responsibility to evaluate reasonable proposals. I work in M&A and companies look at all sorts of stuff that never materializes.
They could be giving the deal some airtime to take the attention off of the harassment, fines, etc.
 
Interesting article in the globe. Didn't realize the commission personally fined the CEO and wants to force himto get leadership training. I can see why he would want to sell now. A grand opening while embroiled in a lawsuit with your regulator is going to be a problem.
 
Looks like Encore wants to just cash out and not deal with the corrupt politics in this state.
Factor in the lack of infrastructure upgrades to help support a development of this magnitude.

I'm sure the politicians or the gaming commission will fine Encore another 50million for the sale of the property. This is probably why they want out.

https://www.bostonglobe.com/metro/2019/05/20/casino/x8zrNJkDo8ZBZsSurzXz0M/story.html

I actually have to give Wynn alot of credit for cleaning up this area.
:wink:
 
Wynn trademarked their glass. How the hell would mgm have a wynn casino, would they reclad it?
 
stick n move said:
Wynn trademarked their glass. How the hell would mgm have a wynn casino, would they reclad it?
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Well MGM could merge with Wynn. It is a tangled mess to contemplate.

I think the Mass Gaming Commission just went too far by making it personal and fining Maddox and forcing him to do some stupid training. If I were Maddox I would look at selling and look at a lawsuit against the state.

Either way, the casino law should be changed... turning the Mass Gaming Commission into a star chamber court of political hacks is offensive to the rule of law.
 
stick n move said:
Wynn trademarked their glass. How the hell would mgm have a wynn casino, would they reclad it?
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The Globe asks with a straight face:

Why would Wynn consider selling its Everett casino when it’s so close to opening?

TheMagicMan said:
Looks like Encore wants to just cash out and not deal with the corrupt politics in this state.
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i think it's really just that uncomplicated. Amazing that the Globe is so reticent to the reality that the Mob Boss is still very much in the picture; and doesn't respond well to these brazen shakedowns. Wynn wants to kick Massachusetts to the curb on general principle. :cheers: Good on them washing their hands of bullshit extortion from this corrupt state.

i agree with the Globe posters' sentiments regarding the saturation of the Casino industry--not to mention the zombie Millennial consumer. Wynn is showing these outrageous fines DO matter. i wouldn't be surprised if there was a sharp drop in Casino revenue nationwide in the coming years, to go along with tourism, antique/classic/ collectible car buying etc, and other quirks of Millennials' buying habits (totally subjective/ what i just happen to believe). But, with the Kendall lab expansion--it stands to reason the hotel is going to be booked solid ~350 days/ year......... How it translates to casino revenue would seem unclear.

/
 
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Now if there was only a commission that could fine all our state house politicians $100k and force them to go to anti-corruption training.

And then another commission that could fine the ethics board members for being political hacks.

Massachusetts is so corrupt it is too corrupt for casinos...
 
odurandina said:
i think it's really just that uncomplicated. Amazing that the Globe is so reticent to the reality that the Mob Boss is still very much in the picture; and doesn't respond well to these brazen shakedowns. Wynn wants to kick Massachusetts to the curb on general principle. :cheers: Good on them washing their hands of bullshit blackmail from this corrupt state.

i agree with the Globe posters' sentiments regarding the saturation of the Casino industry--not to mention the zombie Millennial consumer. Wynn is showing these outrageous fines DO matter. i wouldn't be surprised if there was a sharp drop in Casino revenue nationwide in the coming years, to go along with tourism, antique/classic/ collectible car buying etc, and other quirks of Millennials' buying habits (totally subjective/ what i just happen to believe). But, with the Kendall lab expansion--it stands to reason the hotel is going to be booked solid ~350 days/ year......... How it translates to casino revenue would seem unclear.
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+1 this was a great post. Encore (the company) has put alot of capital investment into this area only to continue to get pillaged by the state & gaming commission politics. The fine of 35 Million dollars against Encore is very extreme.

The state has endorsed gambling to reap its yearly tax revenue and satisfy the Unions only to not help with a vision for the overall infrastructure in the area for the overall public.

These representatives are just as bad as who they represent.
The casino industry is a dirty industry and this is who our representatives support.

If the state, cities continue to struggle with the pension obligations in this type of economy what happens if or when the economy shifts into something a little more Bearish.

:?:
 
Lots of politics here... and zero information on the development or the neighborhood. What else is happening on the property? Anybody get a tour with some photos?

Wynn was at one point leasing some of that MBTA yard for construction... Assuming that most of the materials are now IN the building, any word on if those warehouses are up for grabs?
 
Can we move the Casino Politics chat to a separate thread? I think it's worth discussion, but not in the development thread.
 
tangent said:
We If I were Maddox I would look at selling and look at a lawsuit against the state.
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A lawsuit claiming what exactly? Maddox is a clown. I was shocked (although I probably shouldn't have been) when the Gaming Commissioners asked him last month at the hearings to name one change Wynn has made with respect to its sexual harassment/assault policies since the Wall Street Journal article broke exposing the allegations against Steve Wynn. Maddox couldn't name a single one. Frankly, he is lucky that he was even found suitable to be one of the names on the Wynn license. There are very serious questions about what he knew about the Wynn rape allegations and the multiple multi-million dollar settlements with alleged victims.
 
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