Category 1 Sports Wagering Licensees are taxed on 15% of gross sports wagering revenue. The sports wagering operator licensing fee for a 5-year license is $5 million.The MGC awarded a five-year Category 1 Sports Wagering Operator License to Wynn MA, LLC d/b/a Encore Boston Harbor on Decemthey received their operations certificate on January 31, 2023.The Commonwealth receives 25% of gross gaming revenues.

The licensing fee is $85 million and requires a capital investment, to include a hotel facility, of at least $500 million.MGC awarded the resort-casino license in Region A (Eastern Massachusetts) to Wynn MA, LLC on September 17, 2014, after a competitive bidding process.Wynn Boston Harbor for sale? Wynn Resorts reportedly shopping $2.

Encore Boston Harbor is the new name of the under-construction Everett casino.

Wynn Resorts takes a gamble by not selling Boston casino.

Meanwhile, construction continues apace toward a planned June 2019 opening.

The company could end up with an even lower offer. Should the state strip Wynn of its license, the company would be forced into a distressed sale of the Everett project-and beggars can’t be choosers, etc. State gaming officials are probing whether it is suitable for Wynn to hold a gambling license in Massachusetts given the history of its founder (with whom the company has severed ties and it recently renamed the project Encore Boston Harbor from Wynn Boston Harbor). It turns out, though, that both suitors offered to buy it for less than the approximately $2.4 billion that Wynn plans to spend building it. The Vegas-based company-which has been in upheaval since sexual assault and harassment allegations against its namesake and founder surfaced in January- had met separately recently with rivals Caesars Entertainment and MGM Resorts about buying the project. Wynn Resorts has decided to keep the 3 million-square-foot casino-resort that it is building in Everett on the banks of the Mystic River.

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