BUSINESS WIRE:Wynn Resorts, Limited announced today that Development Associates, LLC, and certain other of its wholly owned subsidiaries have terminated all agreements and negotiations with respect to a potential investment in the Foxwoods Casino project in Philadelphia, PA. “We are fascinated by the legalization of full gaming in Pennsylvania and stimulated by the opportunity that it presents for Wynn Resorts, but this particular project did not, in the end, present an opportunity that was appropriate for our company,” commented Stephen A. Wynn, Chairman and CEO of Wynn Resorts, Limited. MORE

PHILLY CLOUT: Just this week, Wynn released a colorful sketch of the casino he said he was planning on the banks of the Delaware River on Columbus Boulevard at Reed Street in South Philly.  Wynn and the local investors who won the state casino license in 2006 filed an agreement with the state Gaming Control Board last week, spelling out his plans to assume a financial stake in the venture. MORE

PREVIOUSLY: Casino To Be A Wynn-Wynn For Wynn Says Wynn

PREVIOUSLY: Steve Wynn To Takeover Foxwoods Fail

INQUIRER: Casino mogul Steve Wynn on Monday declared that his plans for a South Philadelphia casino would be “Wynn top to bottom,” carrying both his name and signature design. After meeting for an hour and fifteen minutes with Mayor Nutter at City Hall Monday night, Wynn said in an interview with The Inquirer: “We only have one brand. We don’t have a down-market brand. It’s our place.” When Wynn Resorts surfaced in February as a new developer to take over the faltering Foxwoods Casino project, there was speculation that he might not bring his style of high-end casinos to Philadelphia. […]  If Wynn Resorts takes over the Foxwoods Casino project, it will be just the latest twist in a tortuous history. An arm of the Mashantucket Pequot tribe of Connecticut was originally supposed to develop and operate the casino, but fell on economic hard times. Local investors, led by developer Ron Rubin, New Jersey entrepreneur Lewis Katz, and Comcast-Spectacor chairman Ed Snider, have been scrambling for the past year to find a replacement for the tribe. Wynn said that on Friday he signed a binding “term sheet,” outlining details of how control would change to Wynn Resorts. “As for Steve Wynn, the deal is done,” he said. MORE

PREVIOUSLY: Steve Wynn To Takeover Foxwoods Fail

INQUIRER: Wynn Resorts confirmed Tuesday that it had signed a letter of intent to take control of developing and running the struggling Foxwoods Casino project. But the deal is contingent on approval from Pennsylvania gaming regulators. The Foxwoods project is at risk of losing its license for repeated delays since winning one of the city’s two slots licenses in 2006. He only offered a general idea of what he had in mind, saying it would be a one-story casino with two or three levels of parking on either side. Asked how much Wynn Resorts would spend on the waterfront site, Wynn did not directly answer, saying only it would not be “an earth-shaking number.” He said the building “will not look like slots in a box.” “It will have all the bells and whistles of a good-looking casino,” including 3,000 slot machines, table games, a poker room, an Italian restaurant, a steak house, and an Asian restaurant, he said. MORE

NEW ONLINE CASINOS: After the news of a Pennsylvania presence surfaced, investors were not quick to jump on board. On Wednesday, Wynn stock dropped $.33, or .52%. The stock closed at $63.35, still way ahead of other US-based gaming stocks. The move into Pennsylvania by Wynn could further hurt the Atlantic City casino industry. Wynn brings a well-known brand to the area, and they have been competing with the likes of MGM Mirage and other developers that own AC casinos for years. Already, Pennsylvania casinos had higher slot revenue than AC casinos in December, and table games for Pennsylvania casinos were approved by lawmakers in January. With Wynn joining the mix, the road to recovery for the AC casino industry may have just became a lot longer. MORE

BUSINESS WEEK: Wynn Resorts Ltd., the casino company founded by Steve Wynn, reported fourth-quarter earnings that missed analysts’ estimates after Las Vegas room rates tumbled. Excluding some items, profit of 8 cents a share fell short of the 14-cent average of 12 analysts’ estimates compiled by Bloomberg. The Las Vegas-based company reported a net loss of $5.22 million, or 4 cents, compared with loss of $159.6 million, or $1.49 a share, a year earlier, which included additional tax costs, according to a statement today. MORE

HARTFORD COURANT: A decade and a half ago, Wynn failed in a high-profile effort to bring one of his signature casinos to Connecticut. He spent millions of dollars before losing a political fight to the Mashantucket Pequots — owners of Foxwoods Resort Casino. MORE