Dive Brief:
- In one of the largest private construction contracts ever awarded in Massachusetts, Wynn Resorts Ltd. has awarded Boston's Suffolk Construction Co. a $1 billion contract to build the $1.7 billion Wynn Resort casino in Everett, MA, The Boston Globe reported.
- The three million square foot resort complex is expected to generate 4,000 union construction jobs over the next two years and 4,000 permanent jobs by the end of 2018, the casino's scheduled opening date.
- Wynn won the only casino license set aside for the region over the rival Suffolk Downs project, as well as an important environmental permit indicating it has addressed traffic and environmental factors, although there are still local concerns about the impact on already-busy roads, The Globe reported.
Dive Insight
Critics say that Wynn's estimate of $260 million in state tax revenue doesn't match up to that of the state's first slots parlor, the Plainridge Park Casino in Plainville, MA, The Globe reported, but Wynn defenders say that its new resort will feature a wider variety of games and other attraction to draw more customers than Plainridge.
Suffolk, which has annual revenue of approximately $2.5 billion, has worked on casinos in Florida and California, but Suffolk CEO John Fish calls the Wynn project "the crown jewel of our portfolio."
Nevertheless, Wynn is not the only developer with a new casino on the way in Massachusetts. In September of last year, The U.S. Department of the Interior granted sovereign territory status to the Mashpee Wampanoag tribe, which means the tribe can move forward with its plans to build and operate the $500 million First Light Resort & Casino 40 miles south of Boston in Taunton, MA.
The tribe says the complex, which includes a 150,000 square foot casino, restaurants, retail stores, a 600-room hotel, a 15,000 square foot event center and a 25,000 square foot water park, will create 1,000 union construction jobs and contribute $140 million annually to the local economy.
