Wynn completes Encore Boston Harbor sale

Home » Wynn completes Encore Boston Harbor sale

Wynn Resorts has completed the sale of the land and real estate assets of Encore Boston Harbor to Realty Income Corporation for $1.7bn.


The net proceeds of the transaction will further strengthen the company’s global liquidity position to $4.4bn.

Wynn Resorts will continue to operate the Encore Boston Harbor integrated resort at the five-star standard for which the company is renowned via a triple net lease arrangement with Realty Income.

The lease has an initial annual rent of $100m for a term of 30 years with one 30-year renewal option. The rent will escalate annually at a rate of 1.75 per cent for the first 10 years and the greater of 1.75 per cent or CPI (capped at 2.5 per cent) over the remaining initial lease term.

More about:  Denmark regulator reprimands Cashpoint

Leave a Reply

Your email address will not be published. Required fields are marked *

Gambling News from NewsCasinoNew.com is made for the most passionate fans of online casinos and internet gambling. We cover everything: from popular gambling world events and trends to new casino slot game releases and reviews, you will find the latest news stories.