Wynn Resorts and MGM Engages in Conversation about the Sale of Encore Casino in Boston
Wynn and MGM Resorts have announced a joint statement related to the sale of Encore Casino in Boston. Wynn CEO Matt Maddox and MGM CEO Jim Murren met in person in Las Vegas to explore the possibility of a sale.
“Over the past several weeks, we have engaged in conversations around the potential sale of Encore Boston Harbor,” the statement reads. The companies add that the talks are “very preliminary” and the casino giants do not know “where these conversations will lead.”
Encore’s license is the only one the state will allow in the Boston area, making it highly desirable. MGM, on the other hand, owns the only casino license for Western Massachusetts for its Springfield location.
As per the Massachusetts law, a company can only hold one casino license. MGM did not comment, but if it buys the Encore casino it would have to sell its license for a casino in Springfield, Massachusetts.