LAS VEGAS—(January 5, 2015)—Wynn Resorts announced today that it has finalized the purchase of land in Everett, Massachusetts, where the $1.6 billion five-star Wynn Resort in Everett will be built. The closing on the 33-acre parcel puts Wynn in full ownership and control of the property and clears the way for site cleanup and building construction to begin soon after permitting.
Wynn’s acquisition of the former Monsanto Chemical Plant site on the Mystic River in Everett for a purchase price of $35 million is the most significant project advancement since the company was awarded the Greater Boston (Region A) gaming license in September of 2014. In addition to generating thousands of jobs and hundreds of millions of dollars of tax revenue per year to the State of Massachusetts, the new Wynn Resort will revitalize a gritty, underused industrial area and reclaim a waterfront that has been inaccessible to the public for more than 100 years.
“This is a very important development that took years to achieve, but will be well worth it for the City of Everett and the Commonwealth of Massachusetts for decades to come,” said Robert DeSalvio, President of Wynn Everett. “The acquisition of the property keeps us on schedule and moving closer to construction. Today, we hit the ‘go’ button and we’re not stopping until a spectacular Wynn Resort with a new waterfront public park for all to access and enjoy is completed.”