Artist's rendering of proposed $1.3 billion Mohegan Sun casino in Massachusetts. Image from Mohegan Sun Massachusetts
Massachusetts newspaper supports commercial casino bid from the Mohegan Tribe of Connecticut over billionaire developer Steve Wynn:
In addition to all of the positives to a casino that have been pointed out by us and others, there lies one fundamental business fact that cannot be overstated: A large part of any business’s success lies with its founder and the culture that is created by the founder. We have seen that most recently in the case of DeMoulas Market Basket, where the popular and long-time CEO, Arthur T. DeMoulas, was removed as the day-to-day man in charge of a business that was one of the most successful supermarket chains in the region. Only his buying back the remaining stock of the entire company probably saved the franchise from collapse. At Wynn Resorts, there is Steve Wynn, who is described as the soul and embodiment of Wynn Resorts. Our question is: What happens when Steve Wynn is no longer at the helm? Who will take over and will that person be able to brand the product as successfully as Steve Wynn has done for these many years? Mohegan Sun does not have this issue inasmuch as the casino franchise is run by a chosen board of elders from the Indian Tribe whose view is to live by the ethics that have been developed over the hundreds of years’ lifespan of the Mohegan Tribe. In our view, this is a critical issue before the Mass. Gaming Commission. What will happen to the license after a Steve Wynn or a Mitchell Estes is no longer there? Will the casino to which the MGC awards the license today be that same type entity in five years or 10 years? In the case of Mohegan Sun, we know the answer will be yes. In the case of Wynn Resorts, we just do not know. Is that a bet that the MGC is willing to take?Get the Story:
Editorial: Decision Time (The Revere Journal 9/11) Also Today:
Casino deliberations set for next week (The Boston Globe 9/11) Related Stories:
Mohegan Tribe spent $100M on New York commercial casino bid (9/10)
Mohegan Tribe pitches commercial casinos in neighboring states (9/8)
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