The state of Massachusetts’ bid to introduce casinos in its borders has turned into a circus. If it’s not enough that one casino operator after another have dropped their bids in part of their failure to get public support, one of those few operatrs that did get approved is now under investigation for the alleged involvement of a felon in the proposed casino site.
According to the Boston Globe, Charles Lightbody is a secret investor in the Everett, Massachusetts property that Wynn Resorts is targeting to build its casino project on. Problem is, Lightbody is a felon who has served time in jail for numerous crimes, including assault with a dangerous weapon and identity theft. In other words, he’s got a pretty shady background investigators with the Massachusetts Gaming Commission immediately raised its red flags and voiced its concern of “potential participants” in the deal.
To address this issue, Wynn Resorts has taken the steps to rewrite the sales agreement for the site, something it said its doing in agreement with the seller, a company called FBT Everett Realty LLC. The decision to do so, the casino operator says, would amend its option agreement to “clearly confirm ownership and to reduce the option price to reflect fair market value without casino use”.
“We intend to petition the (gaming commission) for approval of our action.”
The commission has refused to issue any comments on the investigation while it’s still active; it also declined comment on investigatory details, casting even more confusion on what has turned into a drama-generating soap opera that’s exposing more and more subplots by the day.
Wynn Resorts still has a Dec. 16 suitability hearing with the gaming commission where this issue is expected to get a lot of talk time. That’s usually what happens when a federal grand jury and two state agencies are involved.
This latest chapter in Massachusetts’ casino plans is yet another example of how difficult its been for operators to acquire those casino licenses in the state. A lot of operators have already fallen by the wayside with their rejected proposals and even Wynn, which is one of the few bids to be approved by voters, has had to pass through the proverbial eye of the needle just to get this far in the vetting process. And this comes after Steve Wynn put the regulators on blast for being so over-the-top stringent with its regulatory practices.
Bet this latest ordeal won’t change Wynn’s perception on that matter, nor should it. Then again, if he wants his resort built in Massachusetts bad enough, he’s gonna need to weather this storm, even if it involves negotiating with a regulatory body that’s proven to be a handful to deal with.
