Wynn Resorts to spend $850m for Everett casino

Wynn Resorts plans to spend about $850m for its Everett casino in mitigation payments, transportation improvements, and city’s taxes.

Wynn Resorts, on a Thursday meeting with the Massachusetts Gaming Commission, said that a total of $210m will be spent on community mitigation and a significant amount will also go to the Massachusetts Bay Transportation Authority (MBTA) while $206m will be allotted on transportation enhancements that include an Orange Line subsidy, water transport and a shuttle with an additional $56 to $76m on improvements of road infrastructure.

“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,” said President of Wynn Everett Robert DeSalvio. “Every stop on the Orange Line—including Chinatown, TD Garden and Faneuil Hall—will realize reduced wait times day and night from the capacity Wynn is subsidizing. The more trains we add the more people will use public transportation for work and play, all while lowering the number of cars on the street.”

The city of Everett will also receive a daily tax of 25% on its gross gaming revenue, around $358 million from the Wynn casino.