Wynn CEO Squashes Boston Harbor Sale Rumors

EVERETT, MA – If there's talk of Wynn Resorts selling its Everett casino to MGM, CEO Matt Maddox hasn't heard it. Maddox issued a blunt statement on CNBC Wednesday in response to reports of sale talks earlier this month.

"Boston is not up for sale," Maddox said, according to the Boston Globe. "I like that market. I found the land. I pursued that deal. I entered the agreement with the host community five years ago. I liked that market then. I like that market today."

The Wall Street Journal reported April 12 that Wynn is in "early talks" to sell the $2.4 billion Boston Harbor project to MGM Resorts International amid a gaming commission investigation into the company's suitability to hold a casino license in Massachusetts. The review was sparked by allegations of sexual misconduct against Wynn founder and former CEO Steve Wynn detailed in an earlier WSJ story.

Such a sale would be challenging due to Massachusetts regulations, which prohibit more than one casino per company. MGM is currently wrapping up construction on its Springfield casino, which is slated to open Aug. 24.

Meanwhile Wynn has asked the gaming commission to remove its namesake as an "individual qualifier" for its Massachusetts casino license. Steve Wynn has resigned as chairman and CEO and sold his shares in the company.

Photo Credit: Wynn Boston Harbor