Casino developer Steve Wynn is going before Pennsylvania state gambling regulators in another step toward his takeover of the Mashantucket Pequots’ long-stalled Philadelphia casino project.
Wynn’s appearance Wednesday will be his first before the Pennsylvania Gaming Control Board.
His Las Vegas-based company has an agreement with Foxwoods Casino Philadelphia investors to take control of the project.
The gaming board ultimately must approve the transaction.
The recession and tightened lending have doomed a number of casino projects in various states, or helped drive some casino owners into bankruptcy.
The Foxwoods Casino project won one of Philadelphia’s two casino licenses in 2006.
But the Ledyard Indian tribe that was to develop and run it has been unable to overcome significant financial trouble at its original Foxwoods casino. (AP)
