Wynn Resorts hopes to expand its Encore Boston Harbor casino resort in Everett, Massachusetts, but has put the project on hold in a dispute with the city over taxes and fees.
The project would be constructed across Broadway from Encore, the $2.6 billion property.
It would include a dedicated poker room, a second sportsbook, a relocated nightclub, a theater, a comedy club, parking garage and more.
“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,” Wynn said in a statement. “However, we are unable to negotiate an agreement with the city regarding property taxes, impact fees, and infrastructure improvements in a timely fashion.”
Until those issues are resolved, all bets are off.
Wynn CEO Craig Billings called it a “disappointing” development, but they can use the capital elsewhere.
“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,” Everett Mayor Carlo De Maria said in a statement.
