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Wynn Resorts Closes Discussions With MGM To Sell A Casino

Wynn Resorts recently disclosed that it is closing discussions with MGM Resorts International. Reportedly, the firm was intending to sell its Encore Boston Harbor casino. In a statement, the Las Vegas-based firm said that it has agreed to stop discussions with MGM Resorts after vigilant consideration. The firm added that it is still dedicated to operating the 671-room casino.

Last week, Wynn Resorts was in discussions to sell its almost completed Encore Boston Harbor casino in Everett, Massachusetts, to its competitor MGM. According to the sources, the price of this casino is about $2.6 Billion. MGM, in response, highlighted that it would not continue discussions with Wynn Resorts about the Massachusetts casino. In a statement, MGM said that it has noted the concern raised by numerous stakeholders about a transaction. The firm added that it believes that the best course of action is to end discussions about the latest opportunity.

On a similar note, SkyCity, a casino operator, came into the news as it is introducing an online casino. Reportedly, this latest casino will be run from the Mediterranean. However, it does not intend to “monetize materially” from the website. SkyCity Malta, which is SkyCity’s Maltese subsidiary, is supposed to partner with Stockholm and Oslo stock exchange listed firm Gaming Innovation Group. According to the sources, the latest partnership intends to offer the online casino gambling platform, which might be open for the New Zealand population.

The latest platform is planned to be introduced in mid-2019. It will have a .com URL. New Zealand laws specify that only government-owned the TAB and Lotto are allowed to proffer online gambling from within New Zealand. In March 2019, Tracey Martin, Internal Affairs Minister, said that she was upset as SkyCity was falsifying ahead with its online casino strategies. The move demonstrated the lack of present laws, she said.

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Sr. Content Writer At Online Industry News

With a Bachelors degree in Business & Management, Deanna is serving as a Senior Content Writer for 4 years now in our organization. She deals with writing articles and reports relating to the Business world, encompassing agreements & deals, acquisitions & mergers, stock market, cryptocurrency, and so on. In her free time, Deanna likes to read suspense and thrillers genre books as well as wander around new places with friends and family.

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