MGM Resorts have pulled out of talks with Wynn Resorts about a potential purchase of its brand new Encore Boston Harbor casino. The gambling and hospitality giant confirmed that they are no longer pursuing a deal with Wynn.
MGM Resorts cited stakeholder concerns over the deal. MGM already owns and operates the Springfield casino in the state. According to the regulations in Massachusetts, no gambling operator can have two licenses. As such, it wouldn’t have been possible for MGM to operate two casinos in the state.
Earlier this week, it was reported that the $2.6 billion casino deal is reportedly underway as both MGM CEO Jim Murren, and Wynn CEO Matt Maddox recently met in Las Vegas after Wynn Resorts was slapped a fine of $35 million by the Massachusetts Gaming Commission for concealing the sexual harassment allegations against former Wynn Ceo, Steve Wynn.
Responding to the MGM’s decision, Wynn Resorts has confirmed that they have mutually agreed to end talks about the sale. The company said that it is “committed to opening and operating Encore Boston Harbor as only Wynn Resorts is able to do.”
The new casino is due to welcome guests from June 23; however, it was also reported that the opening of the casino could be delayed.
The new luxury gambling venue hosts 3,000 gaming machines, several gaming tables, around 15 different multi-cuisine restaurants and an oyster bar and craft beer garden.
The facility will also have a 27-storey hotel to accommodate guests willing to stay overnight. It also has a spacious convention hall and a big casino floor.