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Wynn suspende planes para ampliar Encore Boston Harbor

By - 13 2024 mayo

Wynn Resorts is suspending a planned expansion of its Encore Boston Harbor casino in Everett as it can’t agree with city counsellors the new thresholds for for tax and fees.

Wynn wanted to develope a new facility across Broadway from the $2.6bn casino with a dedicated poker room, a second sports book, a relocated nightclub, a theater, a comedy club, parking garage and more.

Wynn stated: “We remain optimistic about the project fulfilling the city’s and our shared goal of developing an exciting and vibrant destination district on Lower Broadway with restaurants, hotels, theaters, and other recreational uses. However, it has become apparent that we are unable to negotiate an agreement with the City of Everett regarding property taxes, impact fees, and infrastructure improvements in a timely fashion. Until these issues are addressed with a financially viable resolution we have a responsibility to our shareholders, and cannot continue to incur project costs.”

Wynn CEO Craig Billings said tit was a ‘disappointing’ development but added that Wynn had ‘numerous other development projects globally where we can redirect the capital we intended to deploy in Boston.’

Everett Mayor Carlo De Maria said: “Earnings for Wynn from Encore continue to be positive and I welcome their interest in expanding operations with the East of Broadway proposal. The further development would enhance the appeal of this area as a destination district with the addition of entertainment space, restaurants, and hotels. I have been very clear with Wynn representatives throughout our negotiations that any agreement regarding this expansion has to be in the best interests of the residents of Everett. I am glad that business is good at Encore, but I am in the business of reaching the best deal for the residents of my hometown.”

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