Wynn Resorts today released the following statement:
The Wynn Resorts Board of Directors recently met to carefully examine the feasibility and opportunities associated with the company’s domestic development in Philadelphia, Pennsylvania. At this time, the Board has decided that the best course for the company is to pursue business opportunities elsewhere.
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 the New York. Consequently, the company will withdraw its licensing applications in Pennsylvania.
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