By Josh Resnek
Word spread like wild fire around the city and especially among those who frequent Mike’s Roast Beef when it was announced that the property has apparently been purchased by Wynn Resorts.
When Wynn Resorts started buying up properties on lower Broadway some years back, Mike’s steadfastly held firm.
The owners would not sell.
However all this changed last week when real estate transactions indicated that Mike’s Roast Beef had sold its land to Wynn Resorts for a reported $5.5 million.
Reports circulated Friday that Mike’s would remain open for an unspecified amount of time and that’s whatever is going to change as a result of the sale, would not be happening overnight.
Mike’s employees, none of whom wish to be on the record, were surprised by reports the land had been sold.
One longtime employee said that “everything is apparently on the table” about the future but that for the time being “nothing was going to change.”
Mike’s is a key property for Wynn Resorts to place in its portfolio.
With this acquisition, Wynn Resorts now owns from the Mike’s property, all the way down to the shore of the Mystic River.
Mike’s opened more than 50 years ago.
It first operated out of a smaller location on the property closer to the corner.
At that time, Mike’s Donuts occupied the space where the roast beef fast food restaurant occupies today.
When Mike’s donuts moved across the street to a site that no longer exists, Mike’s Roast Beef moved into its present location.
According to Channel 5 News, Mike’s Roast Beef is operating under a lease at the present site.
It is uncertain whether or not Mike’s will continue to exist at the present location or move to another location.
Casino observers said it was highly unlikely that Mike’s Roast Beef would move into the casino’s food court.
“That probably would not work for Encore,” a casino analyst told the Leader Herald.