F-Line -- just like Kendall the Casino is powered by people who plan and execute on short order -- waving around $$ usually smooths the deal making
I don't think that the railroads want those very low usage routes which are vestiges of a totally different era all that much
That is a wholly over-simplistic view that canot be plugged-and-played into every single situation under the sun.
CSX has a $62B market cap and pays $0 for trackage rights to Everett. They have made a reputation for themselves as one of the largest I.D.G.A.F. industrial conglomerates in the country. This notion that they are going to
do all the work to file an abandonment notice with the Surface Transportation Board because some other party is waving cash at them has been disproven already hundreds of times over on the 20,000+ miles of track they own. It's not just taking a fat cheque to the bank; it entails busywork only they can do, when today they don't need to do anything here or hardly anything with their entire Eastern MA freight franchise. Their asking price for returning a voice mail message about a "GO AWAY" payoff on that half-mile of track is already more than the
casino would ever rationally be willing to pay.
Pan Am is wholly privately owned by an eccentric billionaire (Tim Mellon, of the Mellon family) who has prided self for 35 years on zagging when everyone else zigs, even when that has
lost him money for a 'win' at denying someone else a gain. He's been more active in real estate the last several years, but has none of it to trade here. Likewise, $0 trackage rights guaranteed in perpetuity. Traditionally, an even more futile gesture to try to get a returned phone call from Pan Am.
Could these companies ultimately be motivated? Possible. But given that both are in a whole other business realm and/or headspace, it's unlikely you'd ever get BOTH of them batting an eye at casino fun bux. And we haven't even gotten to Everett Terminal yet, or what contractual entanglements they have dating back half-century with these railroads, or what their terminal tenants have for entanglements (New England Produce was one of the vendors controversially relocated from Faneuil Hall 50 years ago), or what rail-access grants for submission/resubmission they have in the hopper. These were never two-party talks. It's an extremely complicated negotiation that could be done in by any one objection from any one member. And complicated things can't be washed aside by "waving around $$" blah blah blah.
The casino had a much harder row than
that to get built in the first place, and at no point from Day 1 to now have they ever indicated they were willing to over-spend to absolute stupidity for an asset. Wynn, after all, had a personal aversion and embarrassment to the kinds of individual resort bankruptcies that were endemic and somewhat normalized in the gaming industry. Even for a symbolic 'win' I can't see the company ever making an official offer for some asset that doesn't come within their internal parameters for allowable overpay. They know when to fold, and to keep in orbit.
Since the number of partners here who'd have to co-sign and the I.D.G.A.F. reps of some of the partners in question are huge question marks, the probability is pretty high that the casino would have to spend stupider than it would truly tolerate for that CR stop. That's the reality of a situation tailor-made for cosignees who overtly act to be left alone. The shortest-order executor also doesn't "wave around $$" without a limit, and they didn't get to be in that position with Wynn Resorts by spending stupid all the time. I don't know why we're assuming that operators who've played it shrewd all along would all of a sudden start playing stupid. As long as their transit portfolio has multiple options in it
up to and including the Silver Line on the other side of the ROW, this isn't yet anywhere near a tactical nuclear strike must-have in the "waving $$ around" dept.