Photo courtesy of the city of Everett

Wynn Resorts has acquired the Constellation Energy power plant property near its Encore Boston Harbor casino in a major expansion of its presence on the Everett  waterfront.

Constellation Energy is decommissioning the power plant, and the 23-acre site has been in play for redevelopment as a stadium site for the New England Revolution.

“Our goal for the purchase is to ensure that future development in the area is synergistic with our existing investment at Encore Boston Harbor, our planned development on Lower Broadway and the broad planning of the Lower Broadway District by the city of Everett,”  Wynn Resorts said in a statement Wednesday about the acquisition.

Any stadium project would require a change in state law reserving use of the waterfront property for maritime industrial use, a process that failed to gain traction on Beacon Hill last year.

The 43-acre property is located in a designated port area, which would have been removed by a clause in the economic development bill from the legislative session.

Constellation Energy leased back the property from Wynn Resorts through Dec. 31, 2024 after selling it for $25 million, according to Suffolk County Registry of Deeds filings.

The Kraft family reported has expressed interest in the site as a replacement for the soccer team’s current home at Gillette Stadium in Foxborough.

Everett officials have supported potential redevelopment of the area, located in the Lower Broadway urban renewal zone and designated entertainment district envisioned as a future home to sports facilities, hotels, concert halls and marinas.

Wynn Resorts already is expanding with its plans for a 999-seat concert hall and 20,000-square-foot restaurant complex across from the casino, and potential future plans for two hotels.

“This sale marks a massive step toward actualizing this vision, to bring vitality to the entryway of Everett, to increase accessibility to the waterfront, to remediate the environmental issues long-plaguing this industrial area, and to give to the residents of Everett something that they can take pride in,” Everett Director of Planning and Development and Assistant City Solicitor Matthew Lattanzi said in an email.

Everett officials previously said they welcome the opportunity to redevelop contaminated industrial sites such as the power plant and the casino, built on a former Monsanto chemical plant.