Wynn Resorts appeared to take an unexpected detour last week in what has been a tightly scheduled journey with no room for delays.
By Wednesday, however, the company seemed firmly back on track for its June 23 opening. President Bob DeSalvio assured the Massachusetts Gaming Commission (MGC) that Wynn would open the resort at 10 a.m. on June 23, putting to rest the sale discussions that had surfaced just days earlier.
The situation had shifted dramatically when, just as preparations for the June 23 opening appeared to be proceeding smoothly—with building completion and intensive worker training underway—Wynn announced jointly with MGM International (operator of the Springfield casino) that it was exploring an offer to purchase Encore Boston Harbor.
The announcement came without warning, and most in the local community learned of this latest development in what has become a characteristic roller coaster experience with Wynn’s Massachusetts operations only after the fact.
“Over the past several weeks, we have
engaged in conversations around the potential sale of Encore Boston Harbor,”
stated the joint statement from Wynn and MGM. “They are very preliminary and of the nature that publicly traded corporations
like ours often engage in, and in fact when opportunities such as this are
presented, we are required to explore.”
Late Tuesday evening brought a reversal, as both MGM and Wynn issued competing statements.
“Wynn Resorts prides itself on the design,
development and operation of the world’s best integrated resorts,” the statement read. “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.”
The sequence resembled a high-stakes gamble—a complete loss followed by an unexpected recovery.
The sale discussions created significant uncertainty, as such transactions typically involve complex legal processes and extended timelines.
Despite the sale speculation, the Massachusetts Gaming Commission (MGC) indicated it remained focused on the June 23 opening date. The $35 million fine against the company, the $500,000 fine against CEO Matt Maddox, and other requirements regarding training and operations would remain in effect regardless of any potential sale.
“The Commission’s written decision stands,”
the MGC stated. “The deadline for fine payment and notice of
appeal is May 31. The MGC continues to focus its efforts on the
significant amount of regulatory preparations required before Encore’s
opening.”
The MGC outlined the legal requirements for any property sale, a process that would be lengthy and potentially extend six months or longer. These requirements include written notice, multiple hearings and meetings, and potentially a new gaming license application from any purchaser. Additionally, state law prohibits a single operator from holding more than one gaming license.
Whether the sale discussions represented genuine possibility or merely internal maneuvering remains unclear.
The actual intentions of Wynn Resorts remain largely unknown to the public.
MGC approves extended 4 a.m. liquor license for Encore
On Wednesday, May 22, the Massachusetts Gaming Commission (MGC) voted 4-1 to approve an extended 4 a.m. liquor license for Encore Boston Harbor.
The MGC had thoroughly discussed the matter at its May 6 meeting, along with several other standard 2 a.m. closing licenses requested by the casino.
During the comment period, Mayor Martin Walsh and Councilor Lydia Edwards expressed opposition to the extended license, which would apply only to those actively gaming. Last call would occur at 3:30 a.m.
Service would resume at 8 a.m.