Image courtesy of Wynn Resorts.

Wynn Resorts may own over a dozen acres around its massive Encore Boston Harbor casino in Everett, but the company is going to be cautious about how it converts the sprawling apron of auto body shops, parking lots and a popular roast beef eatery into an entertainment district to compliment its core operations.

CEO Matt Maddox told analysts in its second quarter earnings call on Aug. 6 that the company had been approached by “people” with a number of different ideas, including a stadium and an outdoor events space. The company does not have any formal development plans at this time, he said. Aside from the 27.5-acre site that the casino sits on, Wynn Resorts controls about 16.5 acres of land along Broadway in Everett, including over 11 acres east of Broadway.

“I think joint ventures might work really well on those 11 acres for additional hotels that might not quite be up to the Wynn standard, and other offerings, because this is going to be an entertainment destination in the Boston metroplex and those 11 acres are going to be very valuable,” he said. “We’re going to be taking our time to make sure we have the exact right program and understand exactly what we need to drive more visitation to our casino.”

Maddox said the company was “not in a rush” and was on the lookout for projects that would complement the casino and directly drive revenues there. As Banker & Tradesman reported in April, the casino is already helping drive a wave of hotel investments north of Boston.

The Massachusetts Gaming Commission awarded the cities of Everett and Somerville $425,000 in late July to jointly plan how to extend the MBTA’s Silver Line from Chelsea through Everett along the Newburyport commuter rail line’s right-of way to Sullivan Square, and then to Somerville.

Maddox said Wynn Resorts has been planning for about a 12-month ramp-up at Encore Boston Harbor, including finding the right promotions and incentives to get people into the casino’s 671 hotel rooms and to maximize revenue from its 3,158 slot machines – and to keep its customers away from regional competitors like MGM Springfield, Foxwoods and Mohegan Sun.

“What we’re doing is we’re making sure that we’re not going to get into a promotional war with our competitors, who are quite nervous about Encore Boston Harbor,” Maddox said. “So we’re reacting to what our slot customers are telling us. We’re looking and understanding what promotions work, how points translate to comp dollars and what prizes, what gifts, are working. It’s guerrilla marketing out there. We’re really focused on that and we have the right team to do it.”

Material from the State House News Services was used in this report.