The saga is finally over.
It’s been more than six years since the EB-5 visa program scandal rocked the Vermont skiing community. But finally, Jay Peak has answers about its future. It was revealed last month that Pacific Group Resorts, Inc. (PGRI) made the highest and best final bid to buy Vermont’s Jay Peak Resort following an auction with multiple bidders. The prevailing bid was a reported $76 million.
“With the success of this auction, we are one step closer to concluding the receivership of Jay Peak Resort,” Michael Goldberg, the court-appointed receiver for Jay Peak, said. “It has been six long years during which the resort has made tremendous progress under the leadership of general manager Steve Wright and his team.”
Wright joined Basecamp hosts Mike Specian and Eric Wilbur to discuss the sale and what it means for Jay Peak’s future, as well as what the re-opening of the Canadian border means for the resort this upcoming season.