Encore Boston Harbor expansion stalled
The casino and city of Everett have not agreed on terms for taxes and impact fees.
Encore Boston Harbor’s casino expansion project has been put on hold, according to an NBC Boston local news report. Wynn Resorts, Encore’s parent company said that the city of Everett and the casino have not been able to come to an agreement on taxes and impact fees, thus resulting in the project’s suspension.
Wynn Resorts released an online statement, further explaining the situation.
The company said, “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.”
Part of the first phase of expansion involves building a new facility across from the $2.6bn casino. Wynn plans to add a poker room, a second sports betting parlor, a theater, a nightclub, comedy club and parking garage.
In other company news, Wynn Resorts recently published renderings for its latest development project, an integrated gaming resort in the Middle East North Africa (MENA) region.
Wynn Al Marjan Island, located in Ras Al Khaimah, United Arab Emirates, is Wynn’s first beachfront resort project. The destination will occupy 62 hectares in the Arabian Gulf.
Wynn Resorts currently owns and operates four locations, including Wynn Las Vegas, Encore Boston Harbor, Wynn Palace and Wynn Macau.
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