Wynn Resorts ceases talks with MGM to sell $2.6 bln Massachusetts casino

FILE PHOTO: The Encore Boston Harbor, built by Wynn Resorts, stands beside the Mystic River in Everett, Massachusetts, U.S., April 1, 2019. REUTERS/Brian Snyder/File Photo - Copyright Brian Snyder(Reuters)

By Reuters

Published on 22/05/2019 - 03:34•Updated 26/04/2024 - 05:24

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(Reuters) - Wynn Resorts Ltd said on Tuesday the company has decided to stop talks with MGM Resorts International to sell its Encore Boston Harbor casino.

"After careful consideration we have agreed to cease discussions with MGM Resorts," Las Vegas-based Wynn said in a statement, adding it is still committed to opening and operating the 671-room casino.

The two companies announced last week that Wynn Resorts was in talks to sell its nearly finished $2.6 billion Encore Boston Harbor casino in Everett, Massachusetts, to rival MGM.

The casino is expected to open in June.

MGM was not immediately available to comment outside regular U.S. business hours.

(Reporting by Sathvik N in Bengaluru; Editing by Sandra Maler)

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