Wynn Resorts has finalized its acquisition of 33 acres of waterfront land on the Mystic River in Everett, where the company plans to build a $1.75 billion casino resort, Wynn announced this morning.
The closing on the former Monsanto chemical site puts Wynn in full ownership and control of the property, and clears the way for an extensive cleanup of pollution on the parcel, the company said in a statement.
Wynn’s deal for the Everett land has drawn immense scrutiny. Three men linked to the former ownership group were indicted in October for allegedly lying to state investigators in an attempt to hide the fact that a convicted felon had a stake in the land. Two neighboring communities trying to block the casino project, Somerville and Revere, have cited the indictments in lawsuits filed against the state gambling commission.
Wynn Resorts paid $35 million for the land, the company said.
“This is a very important development that took years to achieve, but will be well worth it for the City of Everett and the Commonwealth of Massachusetts for decades to come,” said Robert DeSalvio, president of Wynn Everett. “The acquisition of the property keeps us on schedule and moving closer to construction. Today, we hit the ‘go’ button and we’re not stopping until a spectacular Wynn Resort with a new waterfront public park for all to access and enjoy is completed.”