Everett Casino Could Come Under New Ownership Before Completion

Could the Wynn Casino in Everett be renamed before it even opens?

According to the Boston Globe, preliminary talks have taken place between casino giants Wynn Resorts and MGM Resorts International, a move which would have ramifications on the Casino industry in Massachusetts statewide.

Should MGM buy the $2.5 billion resort from Wynn, it would be forced to sell its $960 million casino being built in Springfield which is slated to open this fall. Per Massachusetts state law, casino companies cannot have two licenses in the Bay State. Talks between the magnates were first reported by the Wall Street Journal.

Steve Wynn, the founder and namesake of Wynn Resorts, has been the subject of sexual misconduct allegations since a Wall Street Journal report in January. Wynn resigned as chief executive of the company in February and has since sold his stock holdings.

The casino in Everett is scheduled to open at some point in 2019; currently, it's about 60 percent completed. Via chairman Stephen Crosby, the Massachusetts Gaming Commission stated it will be continuing the project on an "at-risk basis."

A public hearing was held on Thursday to determine if Wynn should be removed from the license, yet no decision was reached.

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