MGM Ends Talks With Wynn Putting Crown Out Of Play

By Glenn Dyer | More Articles by Glenn Dyer

Crown Resorts one time stalker, Wynn Resorts says it has ended its attempts to sell it’s about to open Boston Casino to MGM.

Wynn said on Tuesday the company has decided to stop talks with MGM Resorts International to sell the $US2.6 billion Encore Boston Harbor casino which is due to open next month.

News of the talks emerged late last week and led to speculation that Wynn could be readying for another tilt at Crown.

Crown Resorts shares were down 0.3% to $12.93 just after 11 am Wednesday on the ASX.

That is well below the $A14.75 in cash and shares Wynn proposed to offer in its abortive bid a couple of months ago.

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About Glenn Dyer

Glenn Dyer has been a finance journalist and TV producer for more than 40 years. He has worked at Maxwell Newton Publications, Queensland Newspapers, AAP, The Australian Financial Review, The Nine Network and Crikey.

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