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Steve Wynn's Plan for Atlantic City

Wynn_optBY BOB HOLT
NEWJERSEYNEWSROOM.COM

Share on Facebook!Las Vegas magnate Steve Wynn is having second thoughts about Atlantic City.

Wynn Interactive LLC has recently filed for an online gambling license in New Jersey. Internet gambling is tentatively set to begin November 26 in Atlantic City.

Steve Wynn does not currently own a casino in the resort area. Indications are that he is looking to partner with an existing Atlantic City casino hotel. According to The Press of Atlantic City, Revel Casino-Hotel and the Atlantic Club Casino Hotel are the only casinos that have not yet disclosed their Internet partners.

He owned The Golden Nugget in Atlantic City in the early 1980s, and sold it in 1987 for $440 million. The Press of Atlantic City reported that Wynn is trying to get a license to build another casino in Philadelphia.  In February, he told the Pennsylvania Gaming Control Board that Atlantic City was “the enemy.”

Wynn said in 2012 that Atlantic City’s casinos play one against the other with promotions, and their success comes from frequent visitors. “I argued with three governors to let Atlantic City flower when it had the chance,” Wynn said, according to the New York Post. “The city worked against any intelligent policy.”

Currently in Atlantic City, New Jersey regulations limit Internet operator licenses to organizations that own land-based casinos. Legaluspokersites.com speculates that Wynn might buy a piece of an existing casino- because partnering may be questionable, and building a new enterprise would be too costly.

The site considers Revel to be the best overall fit for Wynn.

According to Atlantic City Weekly, New Jersey Division of Gaming Enforcement officials or Wynn’s representatives have not yet commented publicly.

 
Comments (3)
3 Thursday, 02 January 2014 14:21
Jeannette Edwards
Hope to see Mr. Wynn come back to join Atlantntic City in 2015 , we are to be back in business (WE HOPE)


Thanks Sir for the through !!
2 Thursday, 29 August 2013 19:15
Steven Norton
Atlantic City should welcome Steve back, because he and his Golden Nugget added a bit of class to our resort. And with his marketing team, he attracted many quality players to our shores, with top entertainment, excellent restaurants and enormous suites. Normally Steve would prefer to build his own resort, having developed many of the outstanding casino resorts, including the Mirage, Bellagio, Wynn LV and Encore in Las Vegas, the splendid Beau Rivage in Biloxi and quality gaming properties in Macau. But the current cost of entry, for any resort that he would attach the Wynn name to, mikes little sense today in AC, with casino win down 50% from 2006, after PA opened their gaming establishments State wide. New casino capacity is not in the interest of anyone in AC, acquiring or partnering with an existing property makes more sense. Welcome back Steve?
1 Thursday, 29 August 2013 19:13
Steven Norton
Atlantic City should welcome Steve back, because he and his Golden Nugget added a bit of class to our resort. And with his marketing team, he attracted many quality players to our shores, with top entertainment, excellent restaurants and enormous suites. Normally Steve would prefer to build his own resort, having developed many of the outstanding casino resorts worldwide, including the Mirage, Bellagio, Wynn LV and Encore in Las Vegas, the splendid Beau Rivage in Biloxi and quality gaming properties in Macau. But the current cost of entry, for any resort that he would attach the Wynn name to, mikes little sense today in AC, with net casino win down overI 50% from 2006, after PA opened their gaming establishments State wide. New casino capacity is not in the interest of anyone in AC, acquiring or partnering with an existing property makes more sense. Welcome back Steve?

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