Wynn Resorts plans to sell the land and real estate of Encore Boston Harbor to Realty Income for $1.7 billion in cash, but will continue to operate the casino.
Wynn said the sale-leaseback deal of its Everett casino to San Diego-based Realty Income has Wynn leasing back at an initial total annual rent of $100 million for an initial term of 30 years, with a second 30-year tenant-renewal option included.
STAY IN THE KNOW
Watch NBC10 Boston news for free, 24/7, wherever you are. |
|
Get Boston local news, weather forecasts, lifestyle and entertainment stories to your inbox. Sign up for NBC Boston’s newsletters. |
More on this story from Boston Business Journal
Get top local stories in Boston delivered to you every morning. Sign up for NBC Boston's News Headlines newsletter.
Copyright Boston Business Journal