Wynn bullish on Everett casino potential

Cites air connections to world capitals out of Logan

STEVE WYNN said on Thursday that he remains bullish about the potential of the proposed Wynn Resorts casino and hotel in Everett, in part because Boston has so many air connections to the world’s capitals.

In a conference call with financial analysts, the colorful chairman of Las Vegas-based Wynn Resorts ticked off the direct flights between Logan International Airport and several Chinese cities. He also said Logan is just 12 minutes from his casino site along the Mystic River in Everett. (Mapquest put the distance between the airport and the casino site at more like 25 minutes.)

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Bruce Mohl is the editor of CommonWealth magazine. Bruce came to CommonWealth from the Boston Globe, where he spent nearly 30 years in a wide variety of positions covering business and politics. He covered the Massachusetts State House and served as the Globe’s State House bureau chief in the late 1980s. He also reported for the Globe’s Spotlight Team, winning a Loeb award in 1992 for coverage of conflicts of interest in the state’s pension system. He served as the Globe’s political editor in 1994 and went on to cover consumer issues for the newspaper. At CommonWealth, Bruce helped launch the magazine’s website and has written about a wide range of issues with a special focus on politics, tax policy, energy, and gambling. Bruce is a graduate of Ohio Wesleyan University and the Fletcher School of Law and Diplomacy at Tufts University. He lives in Dorchester.

About Bruce Mohl

Bruce Mohl is the editor of CommonWealth magazine. Bruce came to CommonWealth from the Boston Globe, where he spent nearly 30 years in a wide variety of positions covering business and politics. He covered the Massachusetts State House and served as the Globe’s State House bureau chief in the late 1980s. He also reported for the Globe’s Spotlight Team, winning a Loeb award in 1992 for coverage of conflicts of interest in the state’s pension system. He served as the Globe’s political editor in 1994 and went on to cover consumer issues for the newspaper. At CommonWealth, Bruce helped launch the magazine’s website and has written about a wide range of issues with a special focus on politics, tax policy, energy, and gambling. Bruce is a graduate of Ohio Wesleyan University and the Fletcher School of Law and Diplomacy at Tufts University. He lives in Dorchester.

“All of that makes me feel confident and positive,” said Wynn, who has spent more than $95 million of his own money buying up shares in Wynn Resorts since December. He currently owns more than 11 million shares. The company stock closed on Thursday at $59.69 a share, up from the 52-week low of $49.95 last month but well below the 52-week high of $160.41.

“I like the company’s long-term prospects,” Wynn told one analyst who asked about his purchases.

Wynn said that remediation work is under way at the heavily polluted Everett site and construction should begin in April or May and finish 30 months later in October or November 2018. Wynn had little to say about his recent rapprochement with Boston Mayor Marty Walsh, other than to say it’s now “happy times” with the proposed casino’s neighbors in Boston.