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Report: Steve Wynn pursuing Massachusetts casino site

27 Nov 2012

By Chris Sieroty
LAS VEGAS -- Steve Wynn is considering bidding to build a casino on the site of a former chemical plant in Everett, Mass., as the Las Vegas casino developer pursues a site for the second time in the Bay State.

In May, Wynn pulled out of a deal with The Kraft Group, owner of the New England Patriots, that would have built a $1 billion casino-resort adjacent to Gillette Stadium in Foxborough.

The Boston Globe reported Monday that Wynn is expected to visit the Everett site on Wednesday. The land, which is located in the Greater Boston area, is a former Monsanto Chemical site, the Globe reported.

Wynn's application will create competition for the sole Greater Boston casino license, competition the state's gambling commission wants to encourage.

Suffolk Downs, in partnership with Caesars Entertainment Corp., has already applied for casino development rights for the horse track northeast of Boston.

Wynn Resorts, Limited executives declined to comment Monday.

According to Massachusetts state law, the gambling commission can only issue up to three casino licenses, no more than one in each of three regions in the state.

Shares of Wynn Resorts lost $1.76, or $1.61 percent, on Monday to close at $107.57 on the Nasdaq.

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