Encore Casino Expansion Suspended Due to Standoff – NBC Boston

The expansion of the Encore Boston Harbor Casino in Everett, Massachusetts, has been put on hold because the casino and the city cannot agree on things like taxes and fees, Encore parent company Wynn Resorts said this week.

Wynn had sought to build a new facility across Broadway from the $2.6 billion casino that opened in 2019 as the first phase of an expansion that would help create a new entertainment district in Everett. The initial expansion included a dedicated poker room, a second sports betting parlor, a relocated nightclub, a theater, a comedy club, a parking garage and more. It made progress as the city also works to clear the way for a professional soccer stadium in the same neighborhood.

“We remain optimistic that the project meets the City’s mission and our shared goal of developing an exciting and vibrant destination neighborhood on Lower Broadway with restaurants, hotels, theaters and other recreational uses. However, it has become apparent that we are unable to negotiate an agreement. “We must enter into a timely agreement with the City of Everett on property taxes, impact fees and infrastructure improvements,” the company said in a statement posted on the website project replaced. “Unless these issues are addressed with a financially viable solution, we have a responsibility to our shareholders and cannot continue to incur project costs.”

The news was announced during Wynn Resorts’ earnings call on Tuesday and was previously reported by the Boston Herald. CEO Craig Billings said on the call that the project’s suspension was “disappointing,” but added that Wynn “has numerous other development projects worldwide where we can redirect the capital we planned to deploy in Boston.”

Everett Mayor Carlo De Maria’s office did not immediately respond to a request for comment.

During a meeting Thursday morning, Gaming Commission Executive Director Dean Serpa mentioned the reports of the project’s suspension and said publicly available information was consistent with the commission’s understanding of the project’s status.

“Of course we are all prepared and ready to move forward as things evolve,” he said.

The Encore expansion has been on the Commission’s radar for years, and this is not the first time the project has been put on hold. In early 2022, Wynn decided to “pause the approval process for this development to allow a reassessment to be made as to whether the proposed development represents the best use for the site,” a Gaming Commission official said at the time.

The expansion was originally proposed without any sports betting or poker components, but Wynn changed course and wanted to expand its gambling operations across the street once Massachusetts legalized sports betting later in 2022.