Wynn Resorts executives are still reviewing an April 30 decision of the Massachusetts Gaming Commission that placed new conditions on the company’s casino license, but do not believe that the opening of their Everett resort would be affected if they choose to appeal.
“We are focused on opening this property within weeks,” chief executive Matt Maddox told analysts on the company’s earnings call Thursday.
Wynn Resorts is roughly six weeks from the scheduled June 23 opening of its $2.6 billion gambling resort on the Mystic River, called Encore Boston Harbor. The hotel and casino will have a workforce of more than 5,000 people and will add 671 hotel rooms and suites and 15 new bars and restaurants to the Greater Boston market.
Maddox said construction is nearly done, and 90 percent of the required employees are onboard or have a job offer. Still, the opening could be delayed slightly, he said.
“I don’t know if the opening date will be June 23 or a week or two later, because we’re going to make sure it is flawless,” Maddox said. “We may give ourselves another week, we may not, but the property looks great.”
After 15 months of investigation and deliberation, the state Gaming Commission decided last month that Wynn Resorts can retain its license, but imposed a $35 million fine after state investigators found that former company executives covered up sexual misconduct accusations against the firm’s founder, Steve Wynn. The decision lifted a cloud that had hung over the project since The Wall Street Journal reported the allegations in January 2018, and cleared the way for the casino to open.
The 77-year-old billionaire quickly resigned and sold his stake in Wynn Resorts. He has denied assaulting any women.
In addition to the fine, the commission imposed several conditions on the license, including that Wynn Resorts pay for an independent monitor “to conduct a full review and evaluation of all policies and organizational changes adopted by the company.”
Maddox acknowledged that the long fallout from the Steve Wynn scandal had been difficult.
“There has been turmoil over past 15 months but that is behind us,” he said.