Wynn resorts to sell the real estate of encore boston harbor to realty income for $1.70 billion through a sale-leaseback transaction

Las vegas--(business wire)--wynn resorts (nasdaq: wynn) (“we” or the “company”) announced today that it has entered into a definitive agreement to sell all of the land and real estate assets of encore boston harbor to realty income (nyse: o) for $1.70 billion in cash, representing a 5.9% cap rate (the “transaction”). wynn resorts will continue to operate the property at the five-star standard for which the company is renowned. simultaneous with the closing of the transaction, we will enter into
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