- Under current Massachusetts gaming laws, MGM Resorts can only have one casino in the state.
- Last month, Wynn Resorts completed reputation-damaging “suitability” hearings for the Massachusetts Gaming Commission just to be able to retain its license.
- MA lawmakers are set to hold informational hearings on May 28 and May 29 in order to gather feedback from sports betting stakeholders.
BOSTON – The path to legal sports betting in Massachusetts may have gotten somewhat clearer this week. Wynn Resorts and MGM Resorts, who were in talks for the sale of Encore Boston Harbor, have officially pulled out of any deal.
With state legislators set to hear a total of 15 MA sports betting bills next week, having a firm understanding of how the state’s gambling industry is set up will be crucial to making any decisions going forward.
Encore Boston Harbor, owned by Wynn Resorts, is valued at $2.6 billion and is estimated to generate over five thousand jobs once it opens.
However, Wynn is coming off of a $33 million fine for company misconduct at their Las Vegas location. Wynn also had hearings in front of the Massachusetts Gaming Commission (MGC) last month in order to keep its license to operate within the state.
The current picture for MGM may also raise concerns for stakeholders. Earlier this month, MassLive reported a dip in revenue generated by the company’s Springfield-based casino.
According to current gaming laws, MGM can only have one casino in the state. The purchase of Encore Boston Harbor would have required MGM to abandon their property in Springfield after only a year of operation.
After MGM confirmed that they would pull out of any potential deal, Wynn Resorts reaffirmed the launch date of Encore to the Massachusetts Gaming Commission.
In a tweet sent out by the MGC, “Encore Boston Har prez Bob Desalvio confirms that Encore will open on June 23 at 10:00 am, pending Commission approval.”
Whether or not they will host a sportsbook is up for discussion.
State lawmakers will have to balance the needs of major gaming facilities, the needs of Boston-based sports betting provider DraftKings, representatives from the state’s horse racing industry, and possibly even officials from the state lottery.
“It’s a complex issue,” said House Representative and co-chair of the Joint Committee on Economic Development and Emerging Technologies, Ann-Margaret Ferrante.
“[Sports betting] is an issue we want to be very diligent with, and we want to make sure should Massachusetts go forward with sports betting legalization…that we do it properly.”
Among some of the Massachusetts sports betting bills that will be heard next week, several of them would put the state’s casinos in charge of handling sportsbooks. Those bills include MA S 231, MA S 201, and MA S224.
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News tags: Massachusetts | MGM | Wynn
– In his career, Hasan has worked both local and state government positions—including the Attorney General’s Office in Florida. On top of being familiar with the legislative process, he has also been researching and writing on the legality of sports betting across the US. Outside of work you’ll most likely find him producing or playing music, playing sports, or working on creative writing projects. You’ll also catch him at Doak Campbell Stadium cheering on the Noles.
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