Robert Desalvio, President of Wynn Everest has made a proposal to help renovate Boston subway line in order to speed up the construction of new Wynn Hotel and Casino. The proposal is worth $7million and will aid the city in the renovation of a subway line that would eventually work as transportation to the potentially plush Wynn hotel. The Las Vegas juggernaut has high hopes in connecting the city with environment friendly transportation. In addition to the $7 million, Wynn Everest has already committed $76miilion to the transportation budget on local traffic improvements that were all included in the casino license agreement. Wynn Everest has hopes in providing new transit to fast emergent areas such as Boston Sullivan Square, Medford’s Wellington Circle, and Somerville’s Assembly Square.
The Importance of the New Transit
Wynn Everest recognizes that importance of safe and well-kept transit. Their proposal provides an opportunity to pay for work being done in peak times allowing the construction process to move at a much faster rate. They are also looking to bring an environment friendly approach to the new transit system. The more people who can move safely and quickly throughout the city the better it is for the local businesses to thrive.
This will be the first time that a privately owned company has subsidized the cost of Boston subway operations. The proposal calls for Wynn Everest to pay the $7million over 15 years allowing them to spread out the money accordingly. They will pay a fee of $410,188 in 2018, then taking a 2.5% increase every year afterwards. The expansion of casinos and resorts throughout the country in recent times is a major business topic. This move to subsidize the transit will continue Wynn as a major player in the casino and gaming industry. Their competition MGM Resorts International have been busy buying and developing new complexes across the country as well. The power move is needed to keep up with the rest of the field.