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Wynn Resorts pulled into legal fight over Everett casino site

Initially, Wynn was on the hook for much more — $75 million. FBT claims the gaming commission staff, fearing FBT was improperly hiding the involvement of someone with a criminal past, prompted Wynn to seek a big discount that reflected the value of a property that couldn’t be used for a casino. FBT agreed to the new price — begrudgingly, it turned out. (FBT associates were later exonerated in a separate criminal case.) FBT’s principals want the full $75 million, and they’ve sued the commission to get it. A Superior Court judge recently dismissed several FBT claims but kept the case alive. For that reason, the commission filed its complaint on July 5 to help it recover funds from Wynn, if necessary. The commission’s argument: If it’s found liable for the price reduction, and Wynn doesn’t pay, then the casino company would be unjustly enriched. The day's top stories delivered every morning. Thank you for signing up! Sign up for more newsletters here Reps for Wynn and the commission say the FBT suit is meritless.

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2018-07-16 / Posted in