MGM Resorts announced it has ended talks to buy a Wynn Resorts casino in Massachusetts.
US.- The potential acquisition of the Encore Boston Harbour shocked the industry over the last few days. However, MGM Resorts announced it won’t advance with the buyout of Wynn’s casino.
The company issued a statement – quoted by The Boston Globe – saying it has “discontinued discussions” to buy the resort.
“We are committed to our Springfield community and proud of what we have accomplished,” the company said. “We will always explore ways to deepen our engagement in the Commonwealth. Our discussions regarding the Everett resort were in that spirit.”
“We have noted the anxiety raised by various stakeholders regarding a transaction and this troubles us at MGM,” the operator added. “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.”
The US$2.6 billion venue would be ready by June but could have switched hands as both companies discussed a potential deal. They revealed the information late last week and announced the transaction wouldn’t delay its opening.
The mayor’s stance
Wynn’s casino is located in Everett, a town which wouldn’t have been on board with the sale. According to Mayor Carlo DeMaria, he would block any transfer of ownership.
“We’re not going to budge, we’re not going to allow another resort to buy this facility,” he told Radio Boston on Tuesday. “Especially if they’re not a five-star resort like Wynn is, a company that can really draw an international clientele, really create the destination resort feel.”