Wynn fielding calls on adjacent land
Maddox on arena, other proposal: ‘We’re not in a rush’
THE CEO OF WYNN RESORTS said on Tuesday that his company has been approached by firms looking to partner on an arena or boutique entertainment ventures on land the company has purchased across the street from the Encore Boston Harbor casino.
Matt Maddox said just before the opening of the casino in June that he was looking to build an entertainment district next to the Everett casino, but he didn’t indicate he had received any actual proposals.
On a call with financial analysts following the company’s second-quarter earnings report, Maddox said Wynn has not developed a formal proposal yet for the land. “We’re not in a rush, but we really think that we’ll add to the area and the revenues of Encore Boston Harbor over the long term,” Maddox said.
The company had previously reported to state regulators that it took in $16.8 million in gaming revenues during its first eight days of operations. In the earnings report, the company said it received another $2 million over that eight-day period in non-gaming revenue from its hotel, restaurant, spa, and leasing operations. The company reported a fairly modest $100,000 in earnings before interest, tax, depreciation, and amortization.
On an earnings call that was dominated with talk of the company’s operations in China and Las Vegas, Maddox sounded an optimistic tone about the firm’s relatively small $2.6 billion Boston venture. “We’re going to ramp Encore Boston Harbor to be the top grossing casino in the northeast,” he said.