Wynn Resorts strikes deals with four Boston-area communities
Four Boston-area communities have struck a deal with Wynn Resorts, which is seeking to develop a $1.2 billion casino resort in Everett, Business Week reported Monday.
The Las Vegas gambling company, headed by casino mogul Steve Wynn, has signed agreements with Cambridge, Medford, Lynn and Melrose, joining Malden, which reached a deal with Wynn last year.
According to the Massachusetts Gaming Commission website, the varying agreements include annual payments to the communities and commitments to hire local employees, as well as using and promoting local businesses.
Wynn Resorts has proposed a 100,000-square-foot casino with a 551-room, five-star hotel along the Mystic River.
Casino developers in the eastern region have until Tuesday to reach surrounding community agreements with designated municipalities, which can qualify for financial compensation from the casino as they will be affected by the industry.
The state gambling commission is set to hold a public hearing Thursday on Boston’s bid to be designated a host community for the proposed Everett casino, as well as Mohegan Sun’s proposed casino in Revere.