With a very terse statement, Wynn Resorts announced that it was terminating the Philadelphia project that they jumped into just weeks ago.
The project had been met with intense criticism from some locals. Also, Wynn himself got into a little bit of hot water by showing designs ahead of time to Las Vegas freelancer Steve Friess. Friess has posted a blog entry to clarify - this was not his fault.
What will Wynn Resorts do next? Any chance of an Atlantic City resurgence given this latest move? They are opening Encore Macau later this month but after that, the development pipeline is all Wynn Cotai, which is still in the planning phase.
The company hasn't not had a hotel under construction since Wynn Las Vegas started going up in 2003 (I'm pretty sure I'm right about this - WLV opened 2005 while WM was still under construction ; WM opened late 2006 while ELV was just getting started ; ELV opened 2008 while EM was still under construction).