Gambling Commission Approves Revised Deal for Propose Everett Casino
BOSTON (AP) — Four members of the state gambling commission have approved a revised real estate deal for a proposed casino in Everett that would substantially reduce the price Wynn Resorts pays for the land and prevent hidden investors from profiting off the sale of the property.
The panel’s chairman and fifth member, Stephen Crosby, recused himself from Friday’s discussion and vote after revealing that he was a friend and one-time business partner of one of the principal owners of the land.
The revised agreement reduces the sales price of the former Monsanto chemical company site from $75 million to its fair market value of $35 million, including $10 million that would be put aside for environmental cleanup.
Investigators for the commission said they uncovered evidence that hidden investors, including a convicted felon, could have benefited under the earlier deal.