Wynn Completes Land Deal For Massachusetts Casino
Wynn Resorts has finalized its $35 million purchase of a contaminated property along the Mystic River in Everett on which it plans to build a $1.6 billion casino.
The company owned by Las Vegas casino mogul Steve Wynn said Monday the purchase of the former Monsanto chemical plant site is a key step toward starting cleanup of the 33-acre parcel and eventual construction.
The deal had been dotted with controversy.
Federal indictments returned in October charged that the former owners of the property attempted to conceal the fact a convicted felon and known mob associate stood to profit from the sale.
Officials say Wynn had no knowledge of the alleged hidden ownership, which earlier prompted state regulators to approve a revised deal that lowered the original $75 million purchase price to $35 million.
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