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Steve Wynn withdraws proposal for Wynn Philadelphia casino

Wynn Resorts today withdraw its application to build a casino in Philadelphia.

Wynn Philadelphia concept. Wynn Philadelphia concept.

Wynn Resorts today withdrew its application to build a casino in Philadelphia.

In a statement from the Las Vegas-based Wynn Resorts, the company said that its board of directors met to examine the casino's feasibility, and decided against pursuing a development in Fishtown.

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"At this time, the Board has decided that the best course for the company is to pursue business opportunities elsewhere," according to a statement. "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."

In September, city officials said they were partial to Center City proposals, and expressed concerns with Wynn's project and its proximity to Fishtown's existing casino.

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