The lease will have an initial term of 30 years, with one 30-year renewal option. The company, which also reported a net loss of just over a billion dollars for 2021, provided details of the transaction in Tuesday’s fourth-quarter earnings call with investors. The deal is expected to close in the fourth quarter this year. for $1.7 billion in cash, and that it would lease the hotel-casino back for an initial annual rent of $100 million. Wynn announced Tuesday that it reached a deal to sell Encore Boston Harbor’s land and real estate to San Diego landlord Realty Income Corp. is selling its Boston-area property for a mountain of cash and leasing it back, the latest such deal for a Las Vegas casino operator. (Chase Stevens/Las Vegas Review-Journal) Resorts Ltd. Wynn is pictured in the background along the Las Vegas Strip on Tuesday, Feb.
