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October 22, 2018

Lawsuit accuses Wynn Resorts of fraud in Everett land deal

A new federal lawsuit claims that Wynn Resorts Ltd. used fraudulent tactics to get a steep discount on the land in Everett where it’s building the Encore Boston Harbor resort.

According to the lawsuit filed on Tuesday in Boston federal court, Wynn Resorts (Nasdaq: WYNN) initially agreed to pay $75 million to acquire the 33-acre site from FBT Everett Realty in late 2012. The price was decreased to $35 million in 2014, after the Massachusetts Gaming Commission raised concerns about a possible windfall…

Source: Boston Biz

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