Wynn Resorts announced that it has acquired a 33-acre parcel in Everett for $34 million as it advances plans to build a luxury gaming resort in Greater Boston. The deal closed Jan. 2 and involved the former Monsanto Chemical Plant overlooking the Mystic River in Everett.

Wynn was awarded one of the state's three full-scale gaming licenses in September. The company said remedial cleanup and site preparation will commence immediately as it begins the permitting process for what promises to be a $1.6 billion gaming resort at its newly acquired property. MGM's planned casino will be built in Springfield, while Penn National is building out a facility in Plainville.

The state legislation that legalized gaming in Massachusetts provides for a third full-gaming license, although the Massachusetts Gaming Commission has yet to award it to a potential operator.