Wynn Resorts Continues Casino Expansion Push in Massachusetts

Article by : Erik Gibbs Oct 24, 2023

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In March, Wynn Resorts acquired a closed section of the Mystic power plant from Constellation Energy for $25 million. This 45-acre site is situated across Alford Street (Broadway) from the Encore Boston Harbor casino resort.

Encore Boston Harbor reigns as the dominant casino in Massachusetts’ three-casino gaming industry. Since its inauguration in June 2019, the casino has amassed gross gaming revenue (GGR) exceeding $2.57 billion, translating to more than $643.7 million in state gaming taxes.

Additionally, the casino has contributed many millions in local taxes and shared assessments with Everett and the neighboring communities.

Wynn officials are currently seeking expansion southward across Broadway. This expansion aims to include a new sportsbook, a poker room and a 979-seat theater.

In a subsequent phase, two additional hotel towers with 800 guestrooms will be integrated into the complex. Subject to approval from state regulators, Wynn estimates the combined cost of these two development stages at approximately $1.7 billion.

Wynn Resorts is venturing further into Everett through a partnership with the Kraft Group, the owner of the New England Patriots and Gillette Stadium in Foxboro. Kraft is also the proprietor of MLS’ New England Revolution.

Robert Kraft, the billionaire owner of the holding company, is actively exploring the construction of a new stadium for his soccer club due to the inadequacy of Gillette Stadium for soccer games and fans.

Wynn and Kraft have been in discussions regarding the potential relocation of the soccer team to Everett since 2022. Everett Mayor Carlo DeMaria is supportive of this endeavor and envisions the soccer complex as a catalyst for “a thriving, publicly accessible waterfront.”

However, before the casino company and billionaire can proceed with the construction of a professional soccer stadium on the 45-acre site, state lawmakers or regulators must agree to rezone the property.

The former power plant site is currently within a Designated Port Area, a state-regulated zone that restricts its usage to industrial purposes.

The only means of removing land from a Designated Port Area is to obtain consent from the Massachusetts Office of Coastal Zone Management to lift the restriction or have the Legislature pass a bill that exempts a parcel from the industrial zoning.

According to The Boston Globe, legislators are actively working on legislation to permit commercial development on the property.

State legislation would expedite the removal of property restrictions, as the process of rezoning with the Office of Coastal Zone Management can extend for over two years.

Bradley Campbell, affiliated with the Conservation Law Foundation, advocates for a comprehensive review of the environmental impacts that would arise from allowing the contaminated site to be repurposed for commercial use.

This asserts that the current approach does not appropriately address the magnitude of the project’s effects, both in Everett and beyond.

The Mystic Generating Station is a power facility with four combustion and two steam turbines. It holds the highest nameplate capacity, signifying its intended output, of any station in the state.

It is also deemed one of the state’s most polluting stations, according to Community Action Works, a nonprofit organization dedicated to assisting local communities in mitigating pollution.

Due to transformations in the wholesale energy market in recent years, Constellation has found it economically unfeasible to continue operating the power station. The company is progressively shutting down the plant, with a complete retirement slated for June 2024.