Wynn Resorts halts plans for $1 billion Foxborough casino

Wynn Resorts Ltd. on Tuesday dropped its plan for a
$1 billion resort and casino adjacent to Gillette Stadium in Foxborough, Mass., following the election of two anti-gaming candidates to the town council there.

"For the past six months, Wynn Resorts has sought to communicate the benefits of a proposed destination resort in Foxborough," the Las Vegas-based gaming company said in a statement. "Yesterday's election demonstrates the community's will and Wynn Resorts respects the outcome."

Wynn's proposal was a partnership with The Kraft Group, owner of both the New England Patriots and the stadium.

Wynn's decision to abandon the Bay State leaves Caesars Entertainment Corp.'s Suffolk Downs casino-resort proposal at the Suffolk Downs horse track northeast of Boston as the leading contender for the sole gaming license to be granted in eastern Massachusetts.

"We are committed to pursuing a gaming license for Suffolk Downs," said Caesars spokesman Gary Thompson.

Thompson said Caesars plans a world-class resort at the track.

MGM Resorts International previously pulled out of a proposed casino-resort in the small town of Brimfield, Mass., in the center of the state. Alan Feldman, senior vice president of public affairs at MGM Resorts, said the company is looking for another site in western Massachusetts.

Neither MGM Resorts nor Caesars have seen the level of hostility that Wynn Resorts encountered in Foxborough, where 60 percent of voters turned out to elect two casino opponents. With the vote, the Board of Selectmen in the town southwest of Boston shifted from 3-2 against the casino to 4-1 in opposition.

Under state law, a majority of selectmen would have to vote in favor negotiating with any casino developer.

"When the Commonwealth of Massachusetts passed gaming legislation, we brought forth an opportunity with the unquestioned premier developer and operator in the industry," The Kraft Group said in a statement. "We have great respect for Steve Wynn, his team and his business model, and believe this unique opportunity was worthy of a chance to be heard."

The Kraft Group acknowledged the election was a vote against the project.

"With that democratic statement, as opposed to the voices of five individuals, we will be suspending our efforts regarding a destination resort development," The Kraft Group said.

Shares of Wynn Resorts dropped $5.96, or 4.76 percent, to close at $119.23 in heavy trading of 4.6 million shares on the Nasdaq Global Select Market.

Contact reporter Chris Sieroty at
csieroty@reviewjournal.com or 702-477-3893.