Wynn Resorts Abruptly Pulls Out Of Casino Talks In Pennsylvania

Wynn Resorts has been intrigued by the idea of moving into the Pennsylvania gaming market, and they had been in discussions with regards to the Foxwoods Casino project in the state. On Thursday, the company announced that they were no longer interested in the project.

Pennsylvania lawmakers legalized table games for casinos in the state earlier this year, and that has almost immediately caught the eye of some of the biggest gaming development companies in the US. Wynn was one of those companies, but decided to go in another direction.

"We are fascinated by the legalization of full gaming in Pennsylvania and stimulated by the opportunity that it presents for Wynn Resorts," said Steve Wynn, Chairman and CEO of Wynn Resorts. "But this particular project did not, in the end, present an opportunity that was appropriate for our company."

Earlier this week, it appeared that Wynn had reached an agreement to take over the Foxwoods project. Wynn even showed plans for the casino that he had put together, and he was awaiting approval from the Pennsylvania Gaming Control Board.

Thursday, however, Wynn quickly reversed the company's stance. When he unveiled the plans, Wynn suggested that the approval must come before September in order to have the casino open by December of 2011. Now it appears all of those plans have stalled.

On Wednesday, three more casinos were approved by the Gaming Board to operate table games. The total number of casinos that have been approved now stands at five. Other casinos in Pennsylvania are awaiting their public hearings on the table games expansion, with approval expected shortly thereafter.

April 8, 2010
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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