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NEWS 20 May 2019

MGM Resorts in discussions to purchase Encore Boston Harbor casino

By Nathan Joyes

MGM Resorts International and Wynn Resorts have held preliminary discussions for MGM Resorts to buy Encore Boston Harbor casino in the US.

MGM Resorts CEO Jim Murren and Wynn Resorts CEO Matt Maddox have met up in Las Vegas to discuss the potential $2.6bn deal.

The two CEOs reportedly met after Massachusetts regulators allowed Wynn Resorts to keep its gaming license, following an investigation surrounding sexual harassment allegations against former CEO Steve Wynn.

MGM Resorts would require state approval, as Massachusetts regulations do not allow a company to own more than one gaming license. MGM Resorts opened MGM Springfield last August.

The sale from Wynn Resorts to MGM Resorts would need approval from the city of Everett. Its agreement with Wynn Resorts does not allow either party to change any aspect of its deal without the approval of the other.

The operators released a joint statement reiterating no jobs would be affected at either Springfield or Encore if a deal is agreed.

RELATED TAGS: Land-Based | Industry | Mergers & Acquisitions | Legal & Regulatory
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