Gaming mogul drops bid to take over Pequot casino project

Friday, April 9, 2010  

Gaming mogul Steve Wynn suddenly withdrew his bid to take over the proposed Foxwoods Casino Philadelphia in Pennsylvania on Thursday.

Wynn sought majority control of the project from the Mashantucket Pequot Tribal Nation of Connecticut. But he said he "terminated all agreements and negotiations," a move that could spell he end of the embattled casino.

The tribe and a group of investors won a license from the Pennsylvania Gaming Control Board to operate the slot machine facility. But the board has grown impatient with delays associated with the project.

Meanwhile, the tribe has faced economic and financial troubles in Connecticut. A tribal executive declined to comment on the latest development.

Get the Story:
Wynn bails; snake eyes for Foxwoods? (The Philadelphia Inquirer 4/9)
FOXWOODS CASINO TIMELINE (The Philadelphia Inquirer 4/9)
Wynn exits Foxwoods Philly project (The New London Day 4/9)