As you may have heard, Wynn Resorts is withdrawing its licensing application in Pennsylvania. The company has carefully examined the feasibility and opportunities associated with the development in Philadelphia and has decided that the best course is to pursue business opportunities elsewhere. The company took a host of factors into consideration, including the Philadelphia market performance over the past year and the competition which will result from the recent approval of gaming in the State of New York.

Throughout the entire process, we have been deeply gratified by the positive endorsements we received from local community members, groups, labor organizations, colleges and universities, businesses and every Philadelphian that demonstrated interest and support for our project. We thank our many supporters for their efforts on our behalf.