Steve Wynn’s Wynn Resorts happens to be beset by legal challenges but it still hopes to break ground on the Wynn Boston Harbor project this summer.
Wynn Resorts’ legal battle to get its $2.1 billion project in Everett, near Boston, from the ground received a boost on when the Massachusetts Department of Environmental Protection (DEP) recommended the company for a waterfront development permit friday.
The Everett project, which will be referred to as Wynn Boston Harbor, happens to be beset by appropriate challenges at every turn, despite having been awarded a continuing state gaming license by the Massachusetts Gaming Commission in late 2014.
Wynn has been sued by the City of Boston, along with the City of Somerville, over the water from the chemical that is former on which project will be built. Meanwhile, the City of Revere, where a competing Mohegan Sun proposal failed to win over the gaming payment, has sued the gaming payment for failing to be won over by its competing proposal.
As the Boston lawsuit was tossed out in December 2015 by a judge who blasted it if you are ‘spurious,’ and filled with ‘inflammatory descriptions,’ and ‘hyperbole,’ the Somerville challenge remained the impediment that is only proceeding.
Construction was halted four months ago when Somerville’s mayor, Joseph Curtatone appealed the waterfront permit that had initially been approved by th Read more
Playtika, the mobile social casino games developer owned by Caesars Interactive Entertainment (CIE), will be sold to a consortium of Chinese investors for the $4.4 billion cash deal that is all-in. CIE’s other assets, including the global World Series of Poker (WSOP) and its own real-money online gambling operations in Nevada and brand New Jersey, aren’t an element of the deal.
Caesars Interactive CEO Mitch Garber took a small israeli start-up called Playtika in 2011 whenever it had simply 10 employees into the fold. This week, CIE consented to offer the gaming that is social for $4.4 billion to the Chinese.
The consortium is led by Giant Interactive, owner of ZT on line, perhaps one of the most popular MMO (massively multiplayer online) role-playing games in China. Also in the mix is Yunfeng Capital, an equity that is private founded by Chinese e-commerce giant the Alibaba Group.
Caesars has held it’s place in talks about the purchase of its social gaming operations since at minimum May, with insiders reporting it had received offers that are multiple. The casino giant is in the procedure for putting its main running unit, Caesars Entertainment Operating Co (CEOC), through Chapter 11 bankruptcy procedures in an effort to reorganize around $18 billion of its industry-high debt.
As part of the process, CIE’s parent, Caesars Acquisition business (CAC), will merge with Caesars Entertain Read more