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.