Wynn Passes Muster with Massachusetts Commission Suitability Check

Steve Wynn is one step closer to having his Everett, Massachusetts casino at last (Image: ABC News)

The long and winding road that leads to an Everett casino for Steve Wynn is getting closer to the finish line: the Massachusetts Gaming Commission’s madly demanding investigative bureau has finally offered the go-ahead from the suitability viewpoint for the casino mogul to open his first-ever Bay State property.

Cleared for Takeoff

The recommendation was made early last week during a commission conference, and followed a four-member sign-off on a revised deal for the planned casino a few days earlier in the day.

Needless to state, Steve Wynn has to be breathing a sigh of relief. With his usual colorful and cut-to-the-chase wording, he summed up his feelings on having made it this far and being this close to the end of the regulatory hurdles completely.

‘ This is a investment that is big us here in Boston,’ Wynn noted. ‘This isn’t box of slots. This is a ‘wham-bam-thank-you-ma’am’ fancy hotel.’

Of course, there is no free meal with this commission; an organization that has became finicky up to a degree which has driven all the proposed casinos’ executives to distraction. To that end, the Commission’s Bureau of Investigation and Enforcement remains demanding that some conditions be met, such as for instance showing the outfit that Wynn’s interactions in his Macau gambling enterprises fall suitably within what the BIE considers ‘responsible business practices.’

Ensuing Doings

Wynn has hardly been the only subject of extreme scrutiny by the Commission; nor has it all been going in one single direction. Caesars Entertainment who had been essentially rejected as an appropriate business partner for Suffolk Downs’ East-Boston-now-Revere casino project recently filed case against the Commission’s Chairman, Stephen Crosby, claiming that Crosby had neglected to adequately reveal a potential conflict of great interest relating to Wynn. Crosby had a business that is prior with a part owner of the land on which Everett is to be built a former Mansanto chemical plant which could at the least give the appearance of some favoritism being demonstrated to Wynn’s casino project there.

Caesars claimed a lack of ‘objectivity and fairness’on Crosby’s part within the matter, even going so far as to mean that Crosby intentionally wanted to derail Suffolk Downs’ casino application. Caesars via that Suffolk Downs partnership, which is now dissolved was in the running for the exact same eastern Massachusetts casino license as competitor Wynn. Suffolk Downs has since regrouped and it is now aiming for a Revere casino with new partner Mohegan Sun.

But Crosby has not taken any of these allegations lying down, and notes he does not intend to recuse himself from voting on the Wynn casino project. In reality, he states the process thus far has certainly been ‘incredibly transparent.’

And for his part, Wynn is supporting up Crosby, saying the commissioner’s reputation and actions to date have been ‘unblemished.’

‘I think fair and reasonable individuals will see that and realize that i have fulfilled my obligations of disclosure,’ Crosby added.

Wynn also fired back at Caesars, with an ‘I’m-nicer-than-you-are’-style retort. The casino magnate noted that he raised no protests to your commission vis-à-vis its Suffolk that is allowing Downs now move forward with their Revere-only casino plans after being rejected by East Boston voters in November.

Unsavory Shadows Hang Over Everett Land Deal

Yes, he’s now received regulatory approval from the Massachusetts Commission, but is everything really on the up-and-up with Wynn’s Everett land deal? Not according to felon that is convicted Lightbody, who claims he is making cash on Wynn’s land purchase, one way or another, although the Commission sees things differently.

Lightbody even bragged to a mob that is still-incarcerated friend about it on tape.

‘It’s gonna be a real home run if we are able to get the licenses through,’ Lightbody told Daren Bufalino, who’s in state prison, doing time for attempted extortion and conspiracy. ‘ You’ll own half the [expletive] city,’ Lightbody told Bufalino in Aug. 2012, implying that the convict may benefit aswell.

Lightbody was referring to Wynn’s deal with the Everett land owners to fork over $75 million for his Massachusetts casino project, on spec.

In a reaction to that, the Commission unanimously approved a revised submitted land deal plan from Wynn, which lowered the parcel that is 29-acre price down to $35 million, essentially eliminating the risk of Lightbody benefitting from the land deal. Although Lightbody’s title had never ever shown up on any documents, he was reportedly section of that original sellers group a group whom paid just $8 million four years ago for the same parcel.

Wynn had to swear towards the Commission that solely the owners that are principal make any profits from the deal under the revised contract.

Lightbody’s taped jail conversations with Bufalino had been subpoenaed by the commission investigators. In them, the ex-felon makes clear he intends to make money from the land deal, no matter if he gets squeezed out or not. Lightbody also indicated in the conversation that he knew how to hide his part-ownership from any scrutiny that is regulatory. Moreover, two regarding the Everett property owners say Lightbody bought a choice on a nearby strip club, an alternative which he will exercise should the casino come to fruition.

‘The other thing around the corner that goes with a casino I own,’ Lightbody is heard telling Bufalino during one of their exchanges.’It’s the most sensible thing you’ll have with a casino. There’s only two things, females and booze, right across the casino winner columbus ohio corner. [Expletive] locked it. Locked up tight as a drum.’

The commission investigators determined that Bufalino had, in fact, received prison canteen money from Lightbody, and that the two men were friends during the course of their investigations.

With Board Chairman Stephen Crosby recused due to their conflict of interest, the remainder of the Massachusetts Commission offered a thumbs-up to the revised land contract, despite detectives discovering that the selling principals had maybe not disclosed Lightbody’s initial 12.5 percent ownership share, and had even falsified documents so before he actually had that it appeared the ex-con had exited from the deal.

Big Brother’s Endemol Invests $13 Million in Social Casino Start-Up

Endemol producers of TV’s ‘Big Brother’ series has spent heavily in social casino games start-up Plumbee

Endemol has announced an investment of $13 million in London-based social casino games start-up Plumbee and before you ask, ‘Who the heck is Endemol?’ they’re the creators of the perplexingly popular ‘Big Brother’ television franchise, along with multiplatform entertainment producers and according to their own internet site, at least the world’s largest independent production business, with 90 companies stretched out across 30 countries.

Marketing Wizardry Meets Social Games

Now the massive manufacturing conglomerate is geared up to get results alongside Plumbee to produce premium social games, using their entertainment and tv brands to enhance business and build on the worldwide user base that Plumbee has produced since its inception just over two years ago.

The round of financing during that your production and circulation group fronted the investment also included previous investor Idinvest Partners, which brought the business to a valuation of $40 million.

Endemol is currently seeking to spend money on digital services also, after recently introducing a venture that is new create a network of connected digital networks which required a multi-million Euro investment.

Plumbee, which was birthed in October 2011 with an injection from Idinvest Partners, is a contender that is young the gaming industry, but has already developed an internationally track record of creating, operating and advertising free-to-play online and mobile games for social networks.

Making Cash the Old-Fashioned Way: Charging for Everything

Personal system gaming is quick becoming a popular medium which numerous companies are considering in order to build and grip a strong client base, with hopes that they’ll move over to the real-money gaming side of things, or at minimum, be prone to spending money regarding the social sites.

Playing the games is initially free for the users, they get the chance to buy virtual credits which may be used to unlock more features, upgrades, gifts and bonuses, by which the business’s profits demonstrably lie.

Much of Plumbee’s recent development and success comes from the Mirrorball that is popular Slots which ended up being launched on Apple’s iOS platform during the summer and is shortly due to launch on Android os devices also. Mirrorball Slots is presently one of the games that are highest-grossing on Facebook, and is the flagship item of this company.

But Endemol is maybe not the initial big business partner to join forces with Plumbee. The casino that is social already boasts a joint venture called Bonza Gaming, with online gambling company Unibet . This joint venture is the creative power behind Bonza Casino and Bonza Slots, which pioneered the industry as one of the very first real-money gambling enterprises available through Facebook.

‘Joining forces with a world-leading content creator like Endemol ideally positions us to develop a brand new generation of premium social games,’ announced chief executive officer of Plumbee, Raf Keustermans. ‘Endemol will end up a shareholder that is strategic this will enable us to leverage the business’s international network and globally recognized brands.

‘This will significantly raise the growth of our worldwide individual base, as we create gaming experiences that stand right out of the competition,’ added the chief executive.

‘Social casino video gaming is a market that is fast-emerging Plumbee is among the most innovative and powerful operators in this space,’ noted Lucas Church, chair of Endemol Group’s commercial board. ‘ This partnership that is new enable us to accelerate the growth of Endemol’s electronic video gaming company round the globe, whilst capturing more of the value produced by our entertainment brands.’