LOS ANGELES: MGM Resorts International ended discussions with Wynn Resorts Ltd. about buying that company’s nearly finished casino outside Boston, saying it would focus on its existing Massachusetts property in Springfield. MGM and Wynn said last week that they’d been holding discussions about a deal, news that came as a shock to the casino industry and many in the Bay State. Las Vegas-based Wynn has only just emerged from an investigation by the Massachusetts regulators into its handling of sexual-misconduct allegations that felled co-founder Steve Wynn. "We think the best course of action is to discontinue discussions concerning this opportunity.”In a separate statement, Wynn said it remains committed to opening and operating the casino. "After careful consideration we have agreed to cease discussions with MGM Resorts.” - Bloomberg

Source: The Star May 22, 2019 02:31 UTC