Free-Play Blackjack
Free-Play Table Games
Free-Play Slots
Free-Play Poker
Free-Play Video Poker
500 Nations Casino

Slots Jackpot

Steve Wynn to take over Foxwoods Casino Philadelphia

#1 Casino Choice of U.S. Players
Blackjack • Slots • Tables • Live Dealer • Video Poker • Crypto
0 $3,000 Casino Welcome Bonus!
0 $3,750 Crypto Welcome Bonus!  BOVADA CASINO
February 25, 2010

PHILADELPHIA - Steve Wynn of Las Vegas fame has tentatively agreed to take over the stalled Foxwoods Casino project in South Philadelphia. His company, Wynn Resorts, has signed a non-binding agreement to assume control of the project from the Mashantucket Pequot tribe and local investors, which would still maintain a stake in the casino.

While the terms and conditions have not been made public, sources say that Wynn Resorts is expected to manage the casino and control more than 51 percent of the investment. Under the original plan, local investors owned a 70% stake in the project and the Mashantucket Pequot tribe controlled the rest.

The deal is coming at a critical time for the casino, which is struggling for financing and is at risk of losing its license. At a hearing last January 27, the Gaming Control Board gave the Foxwoods partners until March
3 to come up with new financing and a new design. The Mashantucket Pequot tribe originally planned to develop, finance and manage the casino, but the tribe has found itself in too much debt from the economic downturn and can no longer provide financing and management for the project.

Return to Pennsylvania Casinos.

Disclaimer: All images are copyright to their respective owners and are used by 500 Nations for informational purposes only.

500 Nations is an independent directory and information service free of any gaming operator's control and not affiliated with any casino.
Warning: You must ensure you meet all age and other regulatory requirements before entering a casino or placing a wager. There are hundreds of jurisdictions in the world with Internet access and hundreds of different games and gambling opportunities available on the Internet. Do not assume that Internet gaming sites are in compliance with the rules and regulations of every jurisdiction from which they accept players. YOU are responsible for determining if it is legal for YOU to play any particular game or place any particular wager under the laws of the jurisdiction where you are located.