Encore Boston Harbor Casino | 1 Broadway | Everett

tysmith95 said:
"Every day workers risk their lives for the bosses profits."

Yah no one directly mentioned income inequality. But with the quote that I show above it does sound like a criticism of the wealthy with regards to the death of a rank and file construction worker. And I guess that statement does hold an element of truth, we'll see though when OSHA determines fault in this case.

If I had to guess if there is any wrongdoing with regards to this site the blame will probably be put on lower level site managers and not the upper management of Wynn. I'm pretty sure that Wynn Corporation itself is not micro managing the construction techniques of the contractors that they hire. Though they may push for unrealistic timelines, which could increase pressure for the contractors to cut corners.
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By law, the widow is entitled to 66% of the deceased's average salary for life (unless she remarries). That is a lot of money. Depending on Wynn's insurance plan (and/or the subcontractors'), they could be responsible for a large portion of that claim.

If there's further litigation the company will also have to pay the costs associated with that. Finally, their insurance rates will definitely go up because of this incident.

Because of all these financial costs there is a strong incentive for workplace safety. I'm sure Wynn management will be reviewing their practices.
 
FenwayResident said:
By law, the widow is entitled to 66% of the deceased's average salary for life (unless she remarries). That is a lot of money. Depending on Wynn's insurance plan (and/or the subcontractors'), they could be responsible for a large portion of that claim.

If there's further litigation the company will also have to pay the costs associated with that. Finally, their insurance rates will definitely go up because of this incident.

Because of all these financial costs there is a strong incentive for workplace safety. I'm sure Wynn management will be reviewing their practices.
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I believe this will first fall on Derenzo's insurance policy. Wynn will get named but Derenzo is the GC.
 
falcon42 said:
Um this is union only construction. Wynn is actually overpaying for these guys. Unions have the sole and exclusive contracts to build here, which means he is spending way more than if he chose not to sign the exclusive.

Paying a "30 percent premium" and you get a "28% delay" according to this study, using only union work.

https://commonwealthmagazine.org/economy/union-only-deal-sent-wynn-casino-costs-soaring/
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Your link didn't lead to a study. It linked to an Op Ed written by the head of the main trade group whose only purpose (literally) is to advocate on behalf of non-union contractors. He mentions a study that showed it can increase costs and then mentions other studies (which he fails to dive into) that show no increase in costs. Not sure why I'm taking the bait, but alas I've done it......
 
falcon42 said:
I believe this will first fall on Derenzo's insurance policy. Wynn will get named but Derenzo is the GC.
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Suffolk Construction is the GC per all info I've ever seen.
The only Direnzo I know around here is a site work company, and not a GC.
 
I could see our political leaders halting this project. And forcing Wynn corporation to either sell or force them into bankruptcy if the projects costs balloon before the end.

Wynn just sold out. So the overall vision for the area might not be intact.

This could end very badly for the parties involved building this project. I could see somebody holding the bag and running for the exits.

This project is at risk in my opinion.

Wynn believed in the area and the concept, I’m just not so sure the bean counters for the Wynn won’t pay attention to detail and get scared off by the politics in the end.

For such a sure bet it’s not looking risky due to Wynn scandals.
 
choo said:
A slight tangent, but the Springfield mgm looks like it has a very good street presence (much more of a downtown location that Wynn) but the quality of materials do really well. Hopefully it helps downtown Springfield attract more housing and density for broad economic growth.

http://www.masslive.com/business-ne...o_luck_how_mgm_springfield_i.html#incart_2box
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Mark this post-

That casino is going to suck all the positive energy whatever is left from the Springfield dowtown businesses.

Not sure if Springfield really had anything going for it. The casino is the illusion of hope and will demoralize that area into the ground
 
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617 said:
Wow those pics etc look great ! Springfield is giving people a reason to visit.

In other news there’s an article in today’s globe about Wynn possibly selling the unfinished project to another casino operator. I think it’s fake news but who knows.

https://www.google.com/amp/s/www.bo...investigation/zhKnOGoOnTD9fl5GQZuM6N/amp.html
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The news I was reading was there have been talks that MGM buys or merges with the Wynn. The state might actually pull the gaming license from Wynn that is why the project is at risk.

Could be all fake news for all I know
 
TheRifleman said:
Mark this post-

That casino is going to suck all the positive energy whatever is left from the Springfield dowtown businesses.

Not sure if Springfield really had anything going for it. The casino is the illusion of hope and will demoralize that area into the ground
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This is probably true. It also is just hideous. looks like a potemkin village.
 
Just an article about hearsay at the moment, but this could be significant:

Wynn Resorts CEO Said to Weigh Sale of Boston-Area Casino

Wynn Resorts Ltd.’s new Chief Executive Officer Matt Maddox has had informal talks about a sale of the company’s still-under-construction Massachusetts casino, according to a person familiar with the discussions.

The person asked not to be named because the discussions are private. Michael Weaver, a spokesman for Wynn Resorts, declined to comment.

...

Article: https://www.bloomberg.com/news/arti...-ceo-said-to-weigh-sale-of-boston-area-casino
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I would be sweating bullets if I was an investor in this project at this point.

If the state somehow decides to pull the gaming license from Wynn I could see this project stay in limbo over litigation.
I’m not a lawyer but what could be the reason the state can actually pull the gaming license?
 
TheRifleman said:
I would be sweating bullets if I was an investor in this project at this point.

If the state somehow decides to pull the gaming license from Wynn I could see this project stay in limbo over litigation.
I’m not a lawyer but what could be the reason the state can actually pull the gaming license?
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Much of the casino is already built. I think there is going to be a casino at that Everett site no matter what. I doubt that the state would be willing to allow an empty white elephant to stay up there for long.
 
tysmith95 said:
Much of the casino is already built. I think there is going to be a casino at that Everett site no matter what. I doubt that the state would be willing to allow an empty white elephant to stay up there for long.
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Agree with the overall logic. But if your a shark I see an opening to force this project from succeeding and possibly capitalizing on.

Depends who is pulling the strings on these political puppets. 1/2 of the project has been built-1.2 billion spent out of 2.4 billion estimation.
 
I work in the mergers and acquisitions world and everything is a negotiation everybody is thinking deals. Wynn probably gets hit up every day and twice on Sundays about selling part or all of the Everett casino. To be the owner/operator of the the only high end casino / hotel, etc. in a city like Boston (one of the largest, most wealthy metros in the USA, plus near an airport).
There was a big segment on the casino on CNBC a few months ago, talking about how huge this was.

Point is, the fact that they are possibly considering a sale is normal. It is their fiduciary responsibility to consider all offers. 99% of these things go nowhere.
 
JumboBuc said:
It seems like the "signature Wynn design" here would complicate selling this project to another casino operator. It'd be like operating a Burger King out of a classic golden arches fast food building.
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I was saying this to my girlfriend too. This hotel looks like all the other Wynn hotels. The design is part of their brand.

Your analogy makes sense, but it's tough to compare a small restaurant building with a billion dollar complex!
 
Roughly how much would it cost to just change the tint of the glass? I can't imagine it would be prohibitively expensive.

If the bronze tinted windows were switched out to something blue or grey this building would look different enough that it shouldn't be confused with Wynn branding.
 
No way this doesn't get finished and opened at least close to on schedule. Simply too much money on the line for too many parties.
 
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