MGM, Wynn Resorts end talks over sale of Encore Boston Harbor casino

Wynn & MGM end talks on sale of Everett casino

MGM Resorts and Wynn Resorts have ended their talks over a potential sale of Encore Boston Harbor, the nearly $3 billion casino set to open next month in Everett.

Just last week, the two casino giants confirmed they had "engaged in conversations around the potential sale of Encore Boston Harbor" despite a Massachusetts state law that bars licensees from holding more than one license at a time in the state.

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On Tuesday, MGM and Wynn announced conversations have ended.

MGM sent Boston 25 News the following statement:

"We are committed to our Springfield community and proud of what we have accomplished including thousands of jobs and millions of dollars of revenue for small businesses in the area.
We will always explore ways to deepen our engagement in the Commonwealth. Our discussions regarding the Everett resort were in that spirit. We have noted the anxiety raised by various stakeholders regarding a transaction and this troubles us at MGM.
We only wish to have a positive impact on communities in which we operate. We think the best course of action is to discontinue discussions concerning this opportunity. We wish the company and the Everett community all the best and look forward to visiting their beautiful resort when it opens and welcoming the 5,600 employees to our industry."

Encore Boston Harbor is scheduled for a June 23 open, but legal issues could mean delays. The Gaming Commission recently levied a $35 million fine against Wynn for its alleged handling of sexual misconduct allegations against founder Steve Wynn, who is no longer with the casino giant.

Casino officials were given 30 days to pay the massive fine.

In a statement Tuesday, Wynn Resorts says it remains committed to opening and operating the casino "as only Wynn Resorts is able to do."

"Wynn Resorts prides itself on the design, development and operation of the world's best-integrated resorts.  At times, world-class assets attract the attention of others and our board takes seriously its fiduciary duty to review such interest.  After careful consideration, we have agreed to cease discussions with MGM Resorts.  We remain committed to opening and operating Encore Boston Harbor as only Wynn Resorts is able to do."

Boston 25 News has reached out to the Mass. Gaming Commission for a statement, but has not yet heard back.