Las Vegas casino developer Steve Wynn is withdrawing his casino application in Philadelphia, citing in part a public vote to expand casinos in New York, according to a statement from Wynn Resorts.
“At this time, the [Wynn Board of Directors] has decided that the best course for the company is to pursue business opportunities elsewhere,” the company said in a statement today. “The board took a host of factors into consideration, including the Philadelphia market performance over the past year and the competition which will result from the recent approval of gaming in the State [of] New York. Consequently, the company will withdraw its licensing applications in Pennsylvania.”
Wynn has proposed a $1.2 billion casino on the Mystic River waterfront in Everett, and, at least right now, that project is still on.
Either Wynn prefers clam chowder to cheese steak, or he believes there is more money to be made in the untapped greater Boston market than in greater Philly, which is already home to several casinos.