According to latest reports, Wynn Resorts (NASDAQ:WYNN) is contemplating on building a casino in Massachusetts. Steve Wynn reportedly has sent a letter to Foxborough residents promising jobs and free employee day care facilities if residents give a go-ahead to the construction of the casino resort in their town. According to Wynn spokesman Michael Weaver, Wynn has sent out about 8,000 copies, targeting households that have at least one registered voter. ((See: Casino builder courts town, Boston.com))
Wynn, along with New England Patriots owner Robert Kraft, hope to build a $1 billion casino and hotel resort near Gillette Stadium. Last month, the Massachusetts government authorized the development of three casino resorts and a slots parlor in the state. We will wait to see whether or not Wynn’s plans for the upcoming casino get the support of Foxborough’s residents.
We believe if this casino gets all the regulatory approvals, it could prove a strategic fit for the company. Wynn has major presence in Nevada, and this casino resort could give it access to the Eastern Coast and help it tap prospective customers residing in the region. We expect it will take a while before Wynn’s plans of operating in Massachusetts materialize.