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Steve Wynn Abruptly Pulls Out Of Running For Second Casino License In Philadelphia

By Steve Tawa

PHILADELPHIA (CBS) -- One of the contenders for a second casino license in Philadelphia has abruptly pulled out of the running - again.

Wynn Resorts has withdrawn its licensing application for the Fishtown section of the city.

A statement released Monday out of Las Vegas indicated that the Wynn Resorts Board of Directors carefully examined the "feasibility and opportunities associated" with the project and decided "the best course is to pursue business opportunities elsewhere."

When the casino mogul made a pitch in February in Philadelphia, Steve Wynn gave his vision of a $925-million waterfront resort.

In September, city officials testified before the Gaming Control Board, and Deputy Mayor Alan Greenberger expressed a preference for Center City locations. They include Bart Blatstein's 'Provence' in the former Inquirer Building along North Broad Street and Ken Goldenberg's 'Market-8' proposal at 8th and Market Streets.

With Wynn out, the gaming board will pass judgment on the remaining five, three of which are around the sports complex in South Philadelphia.

In 2010, Wynn jumped in at the last moment to try to salvage a withering Foxwoods Casino project further up Columbus Boulevard - but a week later - he dropped out.

The gaming board ultimately revoked the license for Foxwoods after repeated delays. That's why this second license opportunity has come up.

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