Wednesday, April 25, 2018

Wynn CEO indicates firm could sell Everett casino to protect bottom line

Boston Business Journal

In response to an analyst question about strategy for Wynn Boston Harbor, CEO Matt Maddox echoed his previous statements regarding the future of the under-construction facility in Everett. Maddox said that, while Wynn Resorts likes the Greater Boston market, the company could be willing to sell the project should it pose a risk to the company’s bottom line.

“We’re a $30 billion company, and if there was ever any risk, due to heightened rhetoric, that there would be any contagion from Massachusetts into (the company), we will have to take a hard look at what is best to protect our shareholders and our value,” Maddox said on the company’s first-quarter earnings call Tuesday. “We love the market. We’re going to continue to actively cooperate with the regulator there and move forward. But at the same time, we will always be protecting our shareholders and our employees.” . . . more