Realty Income Corporation (NYSE:O) entered into a definitive agreement to acquire Real Estate of Encore Boston Harbor Casino from Wynn MA, LLC for $1.7 billion on February 14, 2022.The consideration will be paid in cash. The transaction is subject to customary closing conditions, including required regulatory approvals, the Interim Gaming Approval by Gaming authority, and is expected to be completed during the fourth quarter of 2022. Carlo Zenkner, Jonathan A. Schechter and Eric L. Schiele, P.C., Richard A. Grossmann of Kirkland & Ellis LLP and Latham & Watkins LLP acted as legal advisors to Wynn Resorts, the parent of Wynn MA, LLC, in connection with the transaction. Moelis & Company LLC acted as financial advisor to Wynn MA, LLC in the transaction.
Realty Income Corporation (NYSE:O) completed the acquisition of Real Estate of Encore Boston Harbor Casino from Wynn MA, LLC on December 1, 2022. Transaction completed following the receipt of all necessary regulatory approvals. 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.