Penn National Gaming Inc. has abandoned its bid to build a $480 million casino in south Philadelphia, leaving four applicants still in the running for the city’s second casino license.
Penn National CEO Timothy Wilmott said in a news release Friday that city officials’ preference for a downtown casino contributed to the company’s decision to withdraw its application with the Pennsylvania Gaming Control Board.
He also cited the region’s saturated gambling market. Pennsylvania’s southeastern corner already has four casinos, including the SugarHouse Casino along the Delaware River in Philadelphia.
Wyomissing-based Penn National had proposed putting a Hollywood Casino near the sports stadiums in south Philadelphia.