Will other investors gamble on Foxwoods casino site?
Monday, April 12th, 2010
Now that Steve Wynn is out, what is the future for the South Philadelphia Casino project?
The Foxwoods project has been hampered by a number of issues, finding a stable funding source, and facing well organized neighborhood opponents. Fred Gushin is managing director of Spectrum Gaming Group and a casino industry expert. He says when a major gambling player such as Steve Wynn pulls out, it make it more difficult to find someone else to take over.
"Well I think it raises significant issues for that site," Gushin said. "There has been a number of legal and political issues about that site and this is just another example of that."
Gushin says the decision that Wynn didn't think it was right for his company doesn't mean another company won't come in and take over, but financing a major project such as a casino in these difficult economic times isn't becoming any easier to do.