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Steve Wynn trying to block release of MGC Report

Discussion in 'Vegas News' started by NickPappageorgio, Nov 8, 2018.

  1. NickPappageorgio

    NickPappageorgio ¿Quién vigila a los vigilantes?
    VIP Pledge Member Founding Fanatic 2018 March Madness Winner

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  2. Chuck

    Chuck Platinum
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    No Boston license until the investigation is released to the gaming commission.
     
    tringlomane likes this.
  3. tringlomane

    tringlomane Theoretical Video Poker Addict
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    I guess we'll let you join...
    MA is doing it right, imo. Could be one of the highest integrity casino commissions in the nation.
     
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  4. Chuck

    Chuck Platinum
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    Well, I don't know about that. :D

    I will say they are not in the pocket of the industry, because there is no industry. And the Mass political system in most (but not all) cases results in all state entities driving very hard bargains with private enterprise, because the attitude (correctly) is "you want us, we don't need you."

    But that doesn't mean they are 100% straight shooters, it mostly means they drift with public sentiment. It's ridiculous for this to have dragged on so long, considering there really hasn't been any real interest on the part of the general public as far as I can see. If they're inclined to approve, I figure they're aiming to drop it the day after Thanksgiving or Christmas Eve or something, just to insulate themselves from any minor blowback they think might be out there.

    The whole friggin' place is built. They are running ads for dealer training in the subway. If the license doesn't get granted, it's going to be a HUGE mess that's just going to end up in court for god knows how long.

    You might enjoy this article I just saw yesterday, it's a recap of the whole Boston license saga including the Caesars deal that fell apart:
    https://www.bostonmagazine.com/news/2018/10/17/steve-wynn-casino/
     
    #4 Chuck, Nov 9, 2018
    Last edited: Nov 9, 2018
  5. TwoArmedBandito

    TwoArmedBandito Platinum
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    Maybe the commissioners were dragging their feet because the payola wasnt big enough.
     
  6. Chuck

    Chuck Platinum
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    Nah, if the payola hadn't been sufficient, you wouldn't have a 95% complete project sitting there.

    My guess is that the investigation concludes that the non-Steve management has culpability for brushing it under the rug. So they're trying to figure out how to finesse giving Wynn the license anyway, vs. the implications of denying it after Wynn sank all that money into it and making them sell it in distress. Not a good look.

    If the investigation came up basically clean, I don't see any reason for the delay. It was all supposed to be over by the end of September.
     
  7. Funkhouser

    Funkhouser Regional Gambling Specialist
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    Obviously the whole thing is an embarrassment for all involved. The commission for having a flawed process and possible bias, Wynn Resorts for lack of oversight and disclosure, and of course Da Steve because I am sure the report will not cast any favorable light on him, making it that harder to reform his public image.

    https://www.forbes.com/sites/walter...n-over-privileged-document-leak/#444e17c473d0

    What can MA do at this point, so much money has been invested in the project and the employment / tax benefits coming off this project would have a negative impact if a sale or delay happens. I think the whole thing at this point is a process in how to save face and appear to give out adequate punishment.

    Da Steve was ruled not suitable to hold license in MA. Can MGC fine him or pursue civil damages?
    Obviously some changes in leadership are coming for the MGC. Wynn Resorts had to reform the board, my guess is a big fine is also on the way with additional oversight for a period of time.

    I doubt a sale or loss of license is in the future. Now the MGC will just have to figure out how to sell it, and how much of a financial hit Wynn Resorts will pay
    in fines / litigation fee to competitors for the license.
     
    #7 Funkhouser, Nov 11, 2018 at 6:51 AM
    Last edited: Nov 11, 2018 at 10:00 AM
  8. Chuck

    Chuck Platinum
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    I don't know what basis Mass has for fining Wynn (or Steve), they don't have a license. Same thing with making them pay competitors, I don't see a basis for it, they didn't apply for the license in bad faith, shit got revealed that Mass says goes to their suitability. Now, if Mass says Wynn (the corp.) purposely and directly deceived Mass in the process, that might be different. Not admitting you're a groper is not deceptive unless you're asked.

    Most I can see is they require Wynn to agree to some sort of internal oversight structure and incident reporting policy if it doesn't already exist at this point.

    I dunno, I'm just spitballing.
     
  9. Funkhouser

    Funkhouser Regional Gambling Specialist
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    Good background article on the history of Wynn gaming license in Boston by Forbes brings up some items that the BG article left out. All things are not as they seem. Now Stephen Crosby is out as head of MGC right around the time the report was to be released. The Steve is suing Wynn resorts and MGC against public release of the report due to privileged documents being used in the investigation. It's a turd sandwich up there in Boston at the MGC.

    https://www.forbes.com/sites/walter...wynn-won-the-gaming-license-in-massachusetts/

    https://www.forbes.com/sites/walter...n-over-privileged-document-leak/#444e17c473d0
     
  10. Chuck

    Chuck Platinum
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    Yeah it's ridiculous. Crosby supposedly resigned because he was being accused of bias by both sides of a lawsuit, which you would think would be proof he wasn't biased, lol.
     
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