MGM Resorts have announced that they have pulled out of discussions with Wynn Resorts to purchase the as yet completed Encore Boston Harbor Casino in eastern Massachusetts.
Making the announcement, MGM Resorts issuing a statement said: “We have noted the anxiety raised by various stakeholders regarding a transaction and this troubles us at MGM. We only wish to have a positive impact on communities in which we operate.”
“We think the best course of action is to discontinue discussions concerning this opportunity. We wish the company and the Everett community all the best and look forward to visiting their beautiful resort when it opens and welcoming the 5,600 employees to our industry.”
A spokesperson for Wynn Resorts also confirmed the breakdown in talks, with regards the sale of the Encore Boston Harbour Casino stating: “Wynn Resorts prides itself on the design, development and operation of the world’s best integrated resorts.”
“At times, world class assets attract the attention of others and our board takes seriously its fiduciary duty to review such interest. After careful consideration we have agreed to cease discussions with MGM Resorts.”
The opening date for the Encore Boston Harbor Casino is June 23rd, yet this date may slip back a couple of weeks after shareholders were provided with a recent update.
