Wynn Resorts CEO Said to Weigh Sale of Boston-Area Casino
(Bloomberg) -- Wynn Resorts Ltd.’s new Chief Executive Officer Matt Maddox has had informal talks about a sale of the company’s still-under-construction Massachusetts casino, according to a person familiar with the discussions.
The person asked not to be named because the discussions are private. Michael Weaver, a spokesman for Wynn Resorts, declined to comment.
Wynn Resorts has been reeling from reports that its founder, Steve Wynn, sexually harassed employees at the company. He denied assaulting anyone, but resigned in February and sold all his shares in the business, one of the largest casino operators in the world. Wynn Boston Harbor is scheduled to open next year at a cost of $2.4 billion.
Regulators in Nevada, Macau and Massachusetts have been investigating claims of harassment against Wynn. Massachusetts Gaming Commission Chair Stephen Crosby said at a hearing last week that the company’s license to operate in the state was at risk.
Wynn Resorts said in January that it had incurred $1.13 billion in costs so far on the new property, which is located in Everett, Massachusetts. Wynn Resorts won the rights to the sole casino in the area over bids by rival operators such as Caesars Entertainment Corp. and Mohegan Sun.
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