VIDEO: Commission votes 4-0 approving resolution with several conditions regarding Wynn MA LLC land transaction in Everett

Today the Massachusetts Gaming Commission (MGC) held a public meeting attended by representatives from resort-casino applicant Wynn MA LLC to discuss a resolution to address concerns raised by MGC’s Investigation and Enforcement Bureau (IEB) regarding Wynn’s land option in Everett. For more details on the information uncovered by the IEB during the course of the background investigation, click here.

After a lengthy discussion and deliberation, the Commission voted to accept the resolution presented by Wynn MA LLC of a fair market value land option to include several conditions.

Specifically, the Commission voted 4-0 to accept the resolution proposed by Wynn MA LLC to the issues that arose out of the land transaction with the following conditions:

  • The sale must be no more than the established fair market value price of $35 million less the $10 million estimated for the necessary environmental clean up
  • The three identified sellers of FBT Realty, who are nominally going to receive proceeds, must sign a document that they are the exclusive beneficiaries under oath and;
  • The IEB file on this information must be sent to the US Attorney, District Attorney and Attorney General for further review

View video on today’s vote:

 

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