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MGM discontinues talks with Wynn on Encore Boston purchase

Posted May 21, 2019 7:00 am

The Associated Press

BOSTON (AP) - MGM Resorts International says it will no longer pursue buying Encore Boston Harbor from Wynn Resorts.

MGM said Tuesday that stakeholders have concerns. It owns a casino in Springfield and wouldn't have been allowed to operate two in Massachusetts.

Wynn Resorts says it agreed to end discussions and remains "committed to opening and operating Encore Boston Harbor as only Wynn Resorts is able to do."

The $2.6 billion casino is scheduled to open next month in Everett, Massachusetts.

State gambling regulators found Wynn executives failed to disclose allegations of sexual misconduct against company founder Steve Wynn, and levied a $35 million fine against Wynn Resorts last month while letting it keep its casino license.

The company said last month that it's focused on a successful launch of the casino now that the review is complete. Steve Wynn has denied the allegations.

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