MGM no longer in discussion with Wynn to buy Everett casino

MGM no longer in discussion with Wynn to buy Everett casino


A POTENTIAL DEAL BETWEEN MGM AND WYNN RESORTS..AND THE BRAND NEW ENCORE BOSTON HARBOR CASINO…IS OFF THE TABLE. 22NEWS REPORTER HECTOR MOLINA IS LIVE IN THE STUDIO…WITH WHY TALKS HAVE ENDED BETWEEN THE TWO CASINO GIANTS. HECTOR: MGM RESORTS ANNOUNCED THAT THEY HAVE PULLED OUT OF TALKS TO PURCHASE THE WYNN CASINO IN EVERETT. WYNN AND MGM RESORTS ISSUED A JOINT STATEMENT FRIDAY, SAYING THEY HAD BEEN IN PRELIMINARY DISCUSSIONS OF A POSSILBE TRANSACTION INVOLVING MGM PURCHASING THE ENCORE BOSTON CASINO. ON TUESDAY,MGM SPRINGFIELD SENT 22NEWS A STATEMENT THAT READS IN PART… “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.” IF MGM DECIDED TO GO THROUGH WITH THE PURCHASE, THEY WOULD HAVE HAD TO SELL THEIR SPRINGFIELD PROPERTY, BECAUSE A COMPANY CAN ONLY OWN ONE CASINO LICENSE IN THE STATE. ONE SPRINGFIELD RESIDENT SAID IF MGM DID DECIDE TO GO THROUGH WITH THE TRANSACTION, LOCAL BUSINESSES WOULD HAVE BEEN GREATLY IMPACTED. THE LOCAL BUSINESSES THAT WERE PLANNING ON HAVING THEIR BUSINESSES PICK UP THAT WOULD HAVE BEEN A LET DOWN TO THE LOCAL BUSINESSES. HECTOR: MGM SAID THEY ARE COMMITTED TO THE SPRINGFIELD COMMUNITY AND PROUD OF WHAT THEY HAVE ACCOMPLISHED PROVIDING THOUSANDS OF JOBS AND MILLIONS OF DOLLARS OF REVENUE FOR SMALL BUSINESSES IN THE AREA. HECTOR: THE ENCORE BOSTON HARBOR CASINO IS CURRENTLY SCHEDULED TO OPEN ON JUNE 23RD, YOU CAN READ THE ENTIRE MGM STATEMENT ABOUT ENDING THE TALK WITH

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