Bid Withdrawn for Philly Casino
NEW JERSEY 101.5
Las Vegas entrepreneur Steve Wynn will no longer seek a casino license in Philadelphia, now that gambling is on its way to New York.
Wynn had made an elaborate pitch this year to build a casino along the Philadelphia waterfront.
Wynn Resorts says Monday it will drop its bid because of the looming competition in New York, where voters last week approved a measure to license seven casinos.
Wynn also cites concerns about recent industry results in Philadelphia. The city has one casino up and running.
A second license is up for grabs after a Foxwoods project fell through. Wynn had been one of six applicants for that license.
The Wynn company says it will focus on other business opportunities.
(Copyright 2013 by The Associated Press. All Rights Reserved.)