 I'd like to introduce our CEO, Mathematics, the President of Angkor-Boston-Harbour-Baptisalvio and the Honourable Mayor, Carlo Di Maria. Good afternoon everyone, and thank you so much to all the members of the media for coming out today. We really appreciate the fact that you're here and spend so much quality time with our team. I'd also like to give a shout out to the team of professionals that Michael just introduced. It has been such a pleasure to work with all of them to produce this wonderful resort. And before I introduce Math, I'd like to say a couple of thanks as well. And Matt, to you and the board of directors, thank you so much for all the support. The team here could not have done it without the support. We know that the company has invested a tremendous amount of money and we can't wait to open to get to the public in the doors so we can make the return on investment for our shareholders. So thank you for everything, Mr. Mayor. I know you're going to speak in a minute, but again, I want to say thank you so much. We know that the team here could not have done this without you. So again, I wanted to offer my thanks. And most importantly, I want to say that Angkor-Boston-Harbour has received its operating certificate from the Massachusetts Gaming Commission and we will open at 10 a.m. Sunday morning. And again, we have Chair Kathy Judstynas in the audience. Thank you for coming out today. We have Elaine Driscoll who is, most of you know, coordinates all communications and work with the media. Chair, thank you so much. The team was terrific to work with during the preview days. It was a thorough exercise and our team is ready, willing and able to open the doors. Thank you for the confidence that you put in us. We're going to make you proud. And so with that, I have the pleasure of introducing our CEO, Mr. Matt Maddox. Thanks, Bob. Appreciate it. So we wouldn't be standing here today if it didn't start with the floor sight of the lawmakers of the Commonwealth of Massachusetts. Understanding almost a decade ago when they passed this gaming bill that this was not about gambling. This is about economic progress and urban renewal. This was about tourism and this was about large-scale integrated resorts. And it's because of that vision that we're standing here today. We couldn't have accomplished these things without the strong partnership and relationship that we have with the Massachusetts Gaming Commission. And I want to thank them for everything that they've done to get us to this point. And watching all of the Massachusetts Gaming Commission agents work over the last week has really been incredible. They were here till after midnight last night, working on our certification. And that partnership is strong and we're proud to be, we are proud to have them as our lead partners here. Also, this would have never occurred had it not been for the vision of Mayor Carlo de Maria in the city of Everett. When I actually came to Everett about seven years ago, it was in November of 2012, and saw this site for the first time, first person from the company to come here, and met with the mayor. He laid out a vision for urban renewal and for an entertainment district right here where we're standing. And it was really extraordinary to sit in City Hall in Everett and hear the passion and all of the, you know, everything that he had dedicated to this and how he believed he could make this happen. And it was at that moment that our company thought this could be the perfect partner to bring to the state of Massachusetts a five-star integrated resort. As you walk around this place, I'm sure you'll see the craftsmanship is unbelievable. Our, I just have to thank Suffolk Construction and John Fish and his team, the 7,400 construction workers that worked on this site. In fact, we're really proud, over 7% of all the construction workers that worked on this site were female, which is the largest percentage of any job of this size in the United States. So they, I've been associated with five large wind openings of these integrated resorts, multi-million square feet, and this by far from a construction standpoint was the smoothest and the quality was the best. So again, the trades, the craftsmen here in New England are second to none and our relationship with Suffolk has been terrific. I have to say that the thing that I'm most proud of, and the building is amazing, but the thing that I'm most proud of are the 5,000 plus employees that we've been able to hire. It's over 300 million dollars of payroll that's coming to this community right now. It's a new day for a lot of people. It's a new start. And when you walk around, you're going to see a lot of smiling faces. We have a saying if you walk through our back of house or if you look anywhere, luxury is not defined by buildings. It's defined by people because only people make people happy. We believe that our number one asset are our people. payroll is not an expense in this company. We're not a company with things like that. Our people are our asset and I am so proud of the job that Bob DeSalvio, Brian Gilbrantz and Jackie Crom have done leading this effort to employ the 5,000 plus people, hopefully going to 5,800 in the next few months. We're still hiring if anybody has anyone looking for a job, but it's been extraordinary, the work that they've done, and we are ready to open to the public this Sunday. And what I think will be or I know is one of the most anticipated resort openings on the planet. I was in China a few weeks ago. Everyone was talking about Massachusetts. We have 25 journalists coming from Japan in three days. This is not just a United States story. This is a global story and we are here and we want to make the Commonwealth of Massachusetts proud. With that, I'm going to turn it over to the mayor and let him talk about his vision for the city of Everett. Good afternoon. I said good afternoon. Nice to see you all here today. In the city of Everett, even though we're at Angkor, Boston Harbor, we are still in the city of Everett. Mr. Thomas, a remarkable job. Truly amazing. This place is wonderful. It has hats off to you. This is a warm-up for my ribbon-cutting ceremony, so I'm going to practice a few things on you and see how you like it. Matt is right. Back in 2008, I became mayor, born and raised in Everett. I used to bike to Northeastern as a kid and always drive by the Monsanto criminal plant. It was empty. It was barren since the 90s. I went to school in 1991 to college and it was empty prior to that. And fast-forward, I became mayor, trying to get some economic development going in my community. That was the Secretary of Economic Development at the time, was Secretary of All. And I said, I really want to do something great for my city. We're just maintaining. We're not really growing. We're not doing really great stuff. I want to get access to the waterfront. As a kid, I was always on the water, but not the right way. You know, trespassing. We'd go down to the water as kids and we were quoting not from the area. All big industry was all over. They would go no paths, no open to the sea or to the water. He goes, you know, you ever think about doing a master plan, an urban renewal plan? And I said, you know, not knowing anything about them because it's not really a book that tells you how to become a mayor. So I said, yeah, let me look into that. I remember going to Sasaki in Wadah Town. Started the Low Abroad Master Plan. From there, I could create an urban renewal plan. You know, water. We're at the CZM in them to do a water plan. And as soon as we, you know, I worked at residence from the city of Everett for about 18 months. We met, you know, we had meetings with some small group of people and they wanted to see a hotel. They wanted to see a marina. They wanted to see active use in the waterfront. That report was released. I got a call from the wind team and the rest is history. You know, there were some other people who want the site that wanted to maybe possibly look at this. And I said that I wasn't interested. I was only, when I heard the name wind and the organization, I said this is a company that I would love to do business with. And to think about it, they spent $70 million, $80 million to clean up a, I call it a super fun site. It was a disaster. It was polluted. It was leaching into the Boston Harbor. They built the Living Shoreline. They built the six acre, you know, community park for the residents. And these were, from day one, the conversations with Mr. Maddox, Mr. Wind at the time, the team, they're always positive with Bob, the recent three, four years now, Jackie and Chris and the whole team, and I don't want to stop missing people, but they bought into my vision of creating this. That's why they acquired, you know, $100 million worth of parcels of land right next to it. They bought into the vision that we forecasted. We showed. You know, this is a great area of opportunity for our residents. And they said, you know, Mayor, we want to be a partner. We want true partnership. And that's what it is. It's actually true partnership. It's been wonderful. And we're looking at things like Gold Standard BRT in the city of Everett. We're looking at the pedestrian footbridge that they want to put up $25 million, $30 million to build. We're working with the Game and Commission and the state to build a headhouse to connect our bike paths that we're working on now. You can bike from Gloucester, Manhattan, all the way into Everett. And that's going to be a realization within, you know, probably the next year. Right now, it terminates at West Street. I don't know if you know what that is, but it's going to be all connected. So they bought into the vision of the city of Everett. We relocated the park. And I know I'm all over the place, right? So we relocated the park where we call Line Street Park. It's across the street from here. It's next to the Howell plant. They built that park. We never touched it as a city because we were afraid to. We knew it was possibly, you know, not the best park to be looking at, right? We knew it was very, had some issues with it. They built a beautiful park on the Mall in River. I don't know how much money they spent, but it is a wonderful facility for the city of Everett. You know, my residents couldn't be happier. 600, 700 of them are working here. I get a chance when I come in to see them. They're beaming. They're so happy. They have a great job for a great company. That's amazing to get a five-star resort. But probably not a company that really treats their employees with loving care. They actually really cares about people. You don't really find that in many industries. You find it with this organization. And that was one of the real reasons why I said I wanted to do business with them. And I'm so happy to see that some of our best business owners in Boston, from Verona Group and Frank, and Big Night Entertainment, their product is wonderful. I have Kane and Randy. Great to have them in our community. They're great business people. I had a good meeting with them recently to welcome to the city of Everett. It's just, you know, I can't say enough about the whole process in Commissioner Stein. It's been wonderful getting to know you and the entire gaming commission. It's just a great organization. They've been there with the city of Everett from the beginning. We'll be taxed. We'll be knocking your door for more money. We're spending $500,000 to design the head house that will connect the pedestrian footbridge from here over to Assembly Road. That will give our residents true connectivity to the Orange Line. In Everett, all we have is bus service. We have a train station at one time. We lost that. All we have is bus service. And, you know, transportation is huge on everyone's mind. How do we get people in and out of this facility? There are ways. One of those is called cost rapid transit. Did I talk about that? If I did, the gold standard BRT. If you see it in Mexico City, you see it in other countries there. You can do center lane buses that are on street level boarding, heated air condition from Glendale Square, Everett. You can go right down to 99 Don Rutherford Ave. to North Station. I'm going to work my hardest to get that in place. I'm going to work with Mayor Walsh, who wants to build up Rutherford Ave. and build up the Charleston neighborhoods. I'm going to work with the Game and Commission. I'm going to work with the Encore Group. Because Encore wasn't always about one building. I was hoping the second building was Encore. So, I figured what that's going to be called, a palace. I was always hoping that we'd be... Sorry, we skipped a step. But, you know, this district wasn't created by the Encore team. It was created by the City of Levin. We looked at this whole area. You see what's happening across the street, all the buildings coming down. The used car lots, the scrap yards. We would define for many years as that greedy industrial city that had tough guys that played football. We're still tough guys that play football, but we're no longer a greedy city. We're a city that's on the move that wants to get a little bit of that hotel business. Just make it a vibrant district. That's what we're going to do. It's a pleasure for me to be here. I don't know how long I was supposed to talk for, but I'll probably use enough of my time. I'm going to turn it back over to Matt. So, we're here to answer questions. And that's really what this is all about, enough with the speeches. We're really open to any questions. Does anybody have any? So, he's asking about the 11 acres that we purchased across the street from the hotel. I believe there's over 82 parcels that we purchased over the last four years. So, it's been quite an effort. The idea is that we want to work with the city to create an entertainment district. It's not all going to be our company win. I'm sure that we'll be jointly developing things as we have internally with, as you pointed out, the big night group here and other people. So, we want to work with lots of local developers, potentially other hoteliers, convention centers, et cetera. But our idea, I believe along with the mayors, is to continue to redevelop this area so that it's known as the entertainment district in the northeast. So, do you see this as an anchor property? Yes. This is what happens. You build the anchor and then all of a sudden everybody looks around and goes, wow, look at the opportunity. So, it takes vision like the mayor had first. And then now we have accumulated quite a bit of land and other people are too. And so, we're really excited for the next few years. In the next decade, we'll hear that. Okay. What follow-up on that? Will entertainment include concerts? Usually, people come to casinos to hear famous singers. And so, you probably don't, doesn't have that now. And so, do you see in the future that you'll build a concert venue? There's a future for, we've talked about lots of things with the city of Everett from arenas to conference centers to hotels. But I'd like for Bob to just answer the specific question about hearing famous singers. Bob, what do you have on tap here in the next few months? Sure. We're actually doing a private event next weekend where we have invited guests coming in for dinner and a concert with Earth Wind and Fire. We have the week after that, Paul Anka doing a private show for VIP guests as well. We're going to have our first sporting event, July 12th, working with Ken Casey and Murphy's Boxing for a championship boxing event right in our Picasso Ballroom on July 12th. And we're going to continue to look at other opportunities using our current 37,000 square foot ballroom facility. However, there's a second piece to this and that we are so lucky to be in a city that has wonderful tourism assets right at our fingertips. We already have arrangements with the Red Sox for a wonderful suite at Fenway. They have a tremendous concert series. We have a wonderful box at the TD Garden and besides the sporting events, they have some of the best concert lineups in the country. We have a suite at Gillette Stadium. They've also developed a concert series there and then arrangements with the Lang Theatre. And so there are so many great assets. One of the things that we really like about being in eastern Massachusetts is that there's so many other things for our guests to do. We want them to go out and explore the region, enjoy the tourism assets. We think that will be the key to having them make more trips in the future. Yes. The best ways to get here. I know that this is going to be a huge draw for people from New Hampshire and I wasn't at your conference previously on transportation, but right now you've got great plans for the future right now. What are the best ways to get here other than private? Again, because Bob spent so much time in the mayor on their transportation press conference on Wednesday, go ahead. I'll take that one. Thanks, Peter. Great question. Thank you. For example, you mentioned New Hampshire. We're going to be opening on Sunday a park and ride Exit 4 off of 93 in New Hampshire where you'll be able to get right off the interstate, jump on a premium motor coach. It's a $7 ride. Great way to leave the car back in New Hampshire and ride in by motor coach. So we took that concept. We're going to also be doing that from the west off of 90 in Milbury and then to the south off of Route 3 in Rockland. And so there are three great options for motor coach. We have water options available with a premium harbor shuttle. We'll be running starting this Sunday constantly from early morning at 7 o'clock to noon with shuttle service in the harbor that will go between Encore Boston Harbor, the World Trade Center, and Long Wharf North. Luxury, beautiful luxury vessels that were built by right under the Tobin Bridge. Thank you, Scott. Boston Boatworks, wonderful partner of ours. They built beautiful water vessels for us and we think the guests will enjoy that. The T is going to be a critical connection for us. Getting off at either the Wellington Station or Alden Center. We're providing free shuttle service for our guests. And then quite honestly if folks want to just get off in Sullivan Square it's an easy 10 minute walk. We did a lot of transportation improvements on the roads including redoing Broadway up and down Everett, rebuilding Sullivan Square, rebuilding Wellington, new traffic signals, time signals, new pedestrian crossings making sure that we respect ADA accessibility. And so when you look at it across the board, it's on the water, it's buses, motor coaches. It's a neighborhood shuttle system that runs 24 hours a day and now connects us to the Silver Line over in Chelsea. We're really encouraging folks to try something different. Leave the car at home, use mass transit. We've got to think differently. It's not all about pavement. We like the use of technology. We like the use of alternative transportation methods and we're already willing and able to continue to work on those programs. I know it's in the forefront of what the Mayor talks about all the time but we love transportation as you've heard. In what's interesting, last night from 4 p.m. to 6 p.m., we invited 7,200 of our closest friends and they all came. And so this building had 7,200 people in it. They all loaded in within a two hour period last night and it was quite smooth. I have a question for you. Yes, Rebecca? Yeah, just, are you prepared if the legislature approves sports gambling? Where would it go in the casino? Do you have a lot of additional space? And the second part, is it fair to say that when the Resorts House supports betting on Massachusetts or at least has less concerns about it? Yes, we do support that and I know that the lawmakers are thinking about it and being very careful in the way that that could be implemented. If it is, if the state of Massachusetts decides to do that, we have identified a place for it. We've actually, we have a design that we worked out. We would be ready to move forward if that opportunity exists. Can you guys comment or at least comment a little bit on maybe funding the actual construction of the pedestrian bridge from this square? I know you've committed a lot to the design but what's our next step with that? I'm very sure. Sure, I will, I'll go ahead and take that one. We have said all along that there's really three parts to the crossing. It's important, one thing, when Matt and I talked about this early on we didn't want a bridge to know where. And so as you know, the DCR has been working in cooperation with the City of Somerville on redoing Draw 7 Park. It's really important that that connection be made, otherwise we would be afraid that folks would go over a bridge and land it in unfinished areas. So we think the finishing of that Draw 7 Park by DCR is a critical component. We also feel that if somebody makes the effort to cross over the Mystic River and go through Draw 7 Park they have to have an easy connection to get up to the T. And that involves crossing over the railroad tracks. So we need vertical circulation. We need to get folks up on both stairs at an elevator and then into an expansion of the north head house at the Assembly T station. And we've asked for others to participate then in that as well. Matt's commitment early on was that if DCR works on the park, if the head house project is completed our company would be willing to move forward on the bridge portion of the project. So it's a partnership. We are expecting multiple stakeholders to participate because there will be so many beneficiaries to that kind of a project. But we will be there. But all we're asking is that it's a complete project. Is that fair? Yeah, that's exactly right. And to make this a full entertainment region where you can go over to Somerville and go over to Assembly and it's all interconnected. And do you have access to the Orange Line? So I know it's really important Mayor to you as well. I think what Dan said great as you know in the northern bike strand if you have seen the northern bike strand we have determinates in a small section of Everett we have designing the rest of that section on the sweet sort of circle. That is at 80% design now will hopefully be a construction probably by next spring that will connect to the gateway connection. And they have committed I could say they have committed to building the pedestrian footbridge and we are working with the city of Somerville to stay to the Governor, Lieutenant Governor, Secretary I think there's a strong commitment from the Game and Commission that they would see this as a positive piece of transition connectivity. So we feel very confident right now we can just award it by the Game and Commission $500,000 to design that head house. Thank you. So I feel that they are very committed to the project I know that the Encore Green Organization is also feels very strongly because you can get off at Somerville and come right over to the site. Also, for people on Sunday Wellington Station is actually probably a quicker walk over to the site because we'll be open to that connector the up portion to get over to Sunday morning. Could we get an estimate of the Could we get an estimate of the first week's attendance? As a public company we typically don't put out information until it's put out by the state so we will continue just as we do in Macau and by the way our chairman of Win Macau Limited Alan Siemen flew in from Hong Kong to be with us here today. Bruce, do you have a question? I do. I went back and listened to the pitch that Win made to the Game and Commission back in 2014 and one of the points that they made was we're going to be focused just on this property we don't have a Connecticut property to worry about it because obviously we're competing against the Connecticut casino it seems like the transportation is sort of west and north Are you going into the Connecticut market aggressively? What impact are you going to have on the casinos there? I do think that there will be an impact because as you know a lot of the Connecticut market is actually Massachusetts and so this clearly our facility I believe is superior and the location and the service we believe will be five star. One thing that I don't want to be lost in this though is we are in the business of tourism and so we believe that our company will be able to attract significant international tourism because people as Bob pointed out are really interested to come to Boston and this is a great tourist destination and we have great relationships and marketing offices around the world we actually have some of our Far East players checking in next week because they have to come to check it out and so we're focused on the region for sure but we're really focused on the planet and I think that we'll be able because Boston is such a terrific tourist destination to be much more global Hi So some of the attendees mentioned how beautiful it was but they also mentioned that there was food running out during test nights so I was wondering what some of the takeaways were from test nights to make sure that this is in fact a flawless opening Well there's a long checklist when you build 3 million square feet and employ 5,000 plus people and try to open it all at once if you think about it no businesses do that most businesses start off and ramp up and grow as they grow not these you open and you go from 0 to 100 so we're learning lots of things from running out of class wear to no bar napkins to the ice machine didn't work to you name it but in terms of problems there are the least amount of issues here of any opening I've ever been associated with it's really just operational tweaking and these properties do ramp for many days probably until it's running like a machine it'll be great from the beginning but the wind service standard will be in about 2 to 3 months tell you the three problems so Joseph you kind of touched on it we also have MGM out in the spring field do you think this is going to impact MGM at all specifically maybe pulling some people that are in sexual mass Bob do you want to take that the MGM property great property by the way in spring field we visited many times I feel like the property is much more of a regional destination I know they draw heavily from the Hartford market and those areas surrounding it and I do think that what Matt described earlier is we're looking for a much broader tourism play here and so I think they're going to continue to do well there and I think they'll continue to stay very strong in their regional segment we're actually looking for a little bit different type of market and so I think we can peacefully coexist they're friendly competitors and they run a great operation thank you we get to see a lot of the high end on the casino end a lot of the higher end gaming areas what about the lower end like the penny slots and things like that how much of that will be here and secondly is there a dress code so there are more than 3,000 slot machines there are lots and lots of penny slots they're actually quite popular and believe it or not the average way to draw a penny slot to well over a dollar because people like to have their credits but there's lots of opportunities this casino will have something for everybody in terms of a dress code we're not strictly enforced dress codes at any of our properties you know I think that people come here will feel comfortable and you know we clearly cater to the higher end segment but everybody is invited when you're in Las Vegas we're here or in Macau we usually receive between 15 to 25,000 people a day when it's open to everybody and I think Matt brings up a very good point we're open, we're welcoming however you do notice that in the property there are some very fine dining restaurants and I think you know we see this in all the resorts that we have normally if somebody makes a reservation in a fine dining restaurant they want to feel good about themselves and they dress appropriately but if somebody just happens to be walking in they're going to come in and they building casual insurance and just enjoy it so I think it really does work for everyone and I think the guests actually figure it out based on their own itinerary but good questions how much of the revenue do you expect to come from the restaurants and the fine dining options versus revenue from the slots in the casino for so we haven't given those specific percentages in a long time the last time was really when we made an application to the Massachusetts Gaming Commission I would expect that this will be somewhere in the middle of what we experience in Las Vegas which is majority non-gaming to what we experience in the McCow which is mainly gaming so this will definitely be I think a very vibrant casino but we're looking forward to the non-gaming assets doing quite well here I just wanted to ask about the parking fees I noticed it was going to be 20 something dollars and it seems for some people maybe they're elderly or on a limited income basis I just think that seems steep and I was just wondering if that's going to continue or are there exceptions or certain times of the day that might be cheaper thank you good question the parking right now is planned at $22 for the first six hours and $42 for the first 24 hours what's important about that is by having a parking fee you are encouraging people to at least think about it and maybe consider a mass transit alternative matter of fact we were encouraged to have a parking fee as part of our environmental filings through the MEPO or the Massachusetts Environmental Policy Act so I think that it is important it does make people think about it however we do have a frequency marketing program called red card and for those customers especially high frequency local customers which we know there will be a lot of they'll earn credits as they play table game slots or poker and then you can use those credits to pay for the parking and we'll give a discount for that so I do think there's something for everyone a regular player you can use your card and get a discount if you're coming to Dine when I think about our parking rates and I think about my own visitation in around Boston parking is pretty expensive in greater Boston I think the $22.42 seemed like a reasonable approach for us to start but clearly players will get a discount based on rewarding them for their casino play thanks good question it'll take to determine the project's success and whether or not it's worth pursuing that next phase entertainment district and everything so you know you learn as you go we feel very confident about the location the partnership with the city and what this property will be able to generate in the northeast and then what you find out is what are you missing you don't know everything right away and so we'll think about developers to partner with who we can partner with with the city and look at different hotels and arenas what is it that needs to go here and really take our time and work with the right people and with the city to come up with a comprehensive master plan that will create one of the best entertainment districts in the northeast one more question Bruce do you have another one we are talking right now decade and so on and so forth doesn't sound like you'd have any discussions about selling this property as I've worked before can you definitively say Angkor Boston Harbor is not for sale it's actually it's a key part of win resort strategy we believe this is really one of the first integrative resorts in a major metropolitan area and it's a calling card for other states and other jurisdictions globally to think about putting large scale integrative resorts that can create real urban renewal and economic progress which is why we have 25 journalists visiting us from Japan on the 25th so this is really quite strategic for our company thanks everyone we hope to see you again