HARNESS TRACKS OF AMERICA Executive Newsletter

HARNESS TRACKS OF AMERICAExecutive NewsletterA daily fax and e-mail report on racing and gaming developments in North America and beyondStanley F. Bergstein, EditorFriday, April 9, 2010WYNN PULLS OUT IN PHILLYAfter announcing highly heralded plans for “thecutest casino ever,” and showing fancy coloredrenderings of the place to the mayor of Philadelphiaand the city’s Gaming Control Boardin a happy meeting last Monday, Steve Wynn’sWynn Resorts announced yesterday it was abandoningthe project. In a terse and brief release,Wynn was quoted as saying, “We are fascinatedby the legalization of full gaming in Pennsylvaniaand stimulated by the opportunity it presentsfor Wynn Resorts. This particular project didnot, in the end, present an opportunity that wasappropriate for our company.” The astonishedmayor of Philadelphia, Michael Nutter, said,“This is a stunning turn of events. I’ve neverseen anything like this before.”The Mashantucket Pequot Tribal Nation, ownersof Foxwoods in Connecticut and principals alongwith three local investors in the long-simmeringand highly controversial Foxwoods waterfrontcasino, were equally startled. They had rejoicedin February when Wynn signed a letter of intentwith them to take over the stricken project anddevelop a uniquely designed gambling boutique,and yesterday the attorney for the local investorsfound out about Wynn’s withdrawal when everyoneelse did, when the press release was distributedby the Associated Press. His reaction:“We are shocked and amazed. We’re trying tofind out what is behind it and if anything can bedone about it.”Wynn, in a fourth quarter conference call lastmonth, had outlined the $600 million project,saying it would have 3,000 slots, table games, andseveral dining options. He also said at the timethere would be no hotel built with it. The PhiladelphiaDaily News said Wynn’s whirlwind withdrawal“could spell the end for the statecasino license for a weed-strewn, 16-acrelot on the banks of the Delaware River.”A BLOW FOR RUNNING ACESThere is no indication it will pass, but a proposalput forth by a former Senator, now turned lobbyistin Minnesota could deeply impact HTAmember Running Aces. The lobbyist, Dick Day,is proposing the legislature allow slots at onlyone track -- Canterbury Downs -- rather thanboth in the state, and earmark 40% of the revenueto the state for construction of a new MinnesotaVikings stadium. Day announced the planon the same day a House committee defeated anattempt to amend another bill to include racinos.The Duluth News Tribune said racino legislation“is stalled in both legislative chambers, but Daysaid the new plan is ready to be offered as anamendment when the right bill comes along.”He offered as justification appeasement of theNorthern Indian tribes, which he says have complainedabout Running Aces’ competition withtheir gaming operations, but claimed southernMinnesota Indian casinos would not be affectedby Canterbury Downs, which has a big Indiancasino -- Mystic Lake -- just down the road. Thatrationalization was not bought by the News Tribune,which noted that there was no assurancethat the Day proposal would change oppositionthat has blocked racino proposals from advancingfor years.NEW TABLE GAMES IN PAHTA member Mohegan Sun at Pocono Downs alreadyis moving ahead rapidly with constructionof its facility for the addition of 83 table games inlate spring or summer, and with it nearly 600 newjob opportunities, but it picked up new competitionthis week with state approval of three newtable game expansions in its market area. Thenewly approved sites are the nearby Mount AiryCasino Resort, Sands Casino Resort serving inthe tri-city area of Bethlehem, Allentown andEaston, and Penn National’s HollywoodCasino at its track near Harrisburg.