The casino and the city of Everett have not agreed on terms for taxes and impact fees.
US.- Encore Boston Harbor’s casino expansion project has been suspended. According to NBC Boston, Encore’s parent company, Wynn Resorts, said that it had been unable to agree on taxes, impact fees and infrastructure improvements with the city of Everett.
Wynn Resorts said in a statement: “We remain optimistic about the project fulfilling the city’s and our shared goal of developing an exciting and vibrant destination district on Lower Broadway with restaurants, hotels, theaters and other recreational uses.
“However, it has become apparent that we are unable to negotiate an agreement with the city of Everett regarding property taxes, impact fees and infrastructure improvements in a timely fashion. Until these issues are addressed with a financially viable resolution we have a responsibility to our shareholders and cannot continue to incur project costs.”
Massachusetts casino and sports betting revenue hits $157.3m in March
The Massachusetts Gaming Commission reported that the state generated $157.3m in taxable gaming revenue for March. Casino wagering generated $111m and sports betting $46.2m.
Encore Boston Harbor reported $70.4m in gross gaming revenue from table games and slots. MGM Springfield reported $25.2m and Plainridge Park Casino $15.4m. To date, the Commonwealth has collected approximately $1.70bn in taxes and assessments since the respective openings of each gaming facility.
See also: Bally Bet plans to launch in Massachusetts by June