Wynn Resorts in talks to sell $2.6-billion Encore casino to MGM

20 Mai, 2019, 10:10 | Auteur: Auguste Feret
  • Wynn Resorts in talks to sell $2.6-billion Encore casino to MGM

Wynn Resorts and MGM Resorts may reach a deal to sell Wynn's Boston Harbor casino complex to MGM.

This comes as Wynn is about to open the $2.6 billion Everett, Massachusetts, casino.

The companies say the talks won't delay the Everett opening.

The prospective buyer is MGM Resorts, which already operates a casino in Springfield.

The companies said any talks are still in the early stages.

After Massachusetts Gaming Commission investigators concluded that Wynn Resorts mishandled sexual misconduct allegations against its former chief executive, Steve Wynn, the commission ruled on April 30 that the company remains "suitable" to hold the lone Greater Boston casino license.

"Over the past several weeks, we have engaged in conversations around the potential sale of Encore Boston Harbor", the companies said in the statement. "We cannot say today where these conversations will lead, however we can reaffirm our commitment to the communities where we operate today", reports WSJ.

"It's very concerning and alarming to myself as a city councilor, but also as a strong supporter of Encore Boston Harbor from the beginning", said McLaughlin, who represents Ward 6.

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Steve Wynn has denied all of the allegations against him. It is expected to open in June.

The commission ordered Wynn Resorts to pay a $35 million fine and imposed other conditions on the company.

The Massachusetts Gaming Commission, which regulates casino gambling, had no immediate comment on the talks between the two companies.

Gaming commission spokeswoman Elaine Driscoll said in a statement that "the commission's written decision stands".

The people of Springfield and Everett welcomed us into their neighborhoods. The deadline for fine payment and notice of appeal is May 31.

The 2011 state law that authorized up to three resort casinos in MA prohibits companies from holding more than one casino license, so MGM would not be permitted to operate both the Springfield and Boston Harbor facilities.

As of March, the state had collected about $42 million in taxes from the casino.

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