The highly anticipated expansion of Encore Boston Harbor Casino has hit a major roadblock as financial tensions between the city of Everett and the casino’s parent company, Wynn Resorts, have caused the project to come to a halt.
The $1.6 billion expansion plans included the addition of a 23-story hotel tower, a luxury spa, and a new dining and retail space. However, disagreements over financial agreements between the city and the company have delayed the project indefinitely.
According to sources close to the situation, the main point of contention lies in the tax agreements between Wynn Resorts and the city of Everett. The city claims that the casino has failed to uphold its end of the bargain in terms of tax revenue, while Wynn Resorts argues that the city’s demands are unreasonable and unsustainable.
Everett Mayor Carlo DeMaria expressed his frustration with the situation, stating, “We have been more than patient with Wynn Resorts, but it is clear that they are not living up to their obligations. We cannot continue to support a project that does not benefit our community as promised.”
In response, a spokesperson for Wynn Resorts defended the company’s position, stating, “We have always been committed to being a good partner to the city of Everett and will continue to work towards a resolution that is fair and mutually beneficial.”
The halt in the expansion project has raised concerns among local residents and businesses, who were looking forward to the economic boost that the new development would bring to the area. Many are now worried about the potential impact on job opportunities and tourism in the region.
As negotiations between Wynn Resorts and the city of Everett continue, the future of the Encore Boston Harbor Casino expansion remains uncertain. Both parties are hopeful that a resolution can be reached soon so that construction can resume and the project can move forward as planned. Until then, the future of one of Boston’s most anticipated development projects hangs in the balance.
