Wynn Resorts Will Spend $850 Million for Wynn Everett Casino Resort Along Mystic River
Back in January 2015 Wynn revealed new rendering’s of its Wynn Everett to the Massachusetts Gaming Commission. The casino property Wynn Resorts is constructing in Massachusetts is a proposed $1.7 billion hotel and casino, which is slateed to cost the operator a pretty penny to the city, $850 million to be exact! Wynn Resorts will end up spending millions with city taxes, transportation improvements for the duration of its 15 year casino license in the state.
Wynn had a meeting this past Thursday with the Massachusetts Gaming Commission whereas it was confirmed that Wynn will spend around $210 million on community modifications with a large portion of that amount going to the Massachusetts Bay Transportation Authority for road infrastructures.
Wynn will also pay the city 25% in daily tax. The 25% will be based on the resorts gross revenues which is estimated to be more than $355 million over the course of the 15 years. More than $205 million will be allotted for water transport, shuttles and orange line subsidies.
President of Wynn Everett stated,
“The payments from Wynn to the MBTA will have a far-reaching effect beyond the Wynn Resort in Everett. Shoppers and diners from Assembly Row and Malden will benefit from the increased service we’re funding, as will riders going to and from downtown Boston and the Back Bay.”