Casino operator Steve Wynn's international scale and financing power makes him a favorite over Philadelphia-based Bart Blatstein and Baltimore's Cordish Co. in competition to build Philadelphia's second casino, writes analyst Brian McGill in a report for Janney Capital Markets. He also expects Harrisburg-based Penn National to apply for the license by Pennsylvania's Nov. 15 deadline.
Wynn would likely take business from the Neil Bluhm-backed SugarHouse casino, which occupies an ex-industrial site near Wynn's proposed Fishtown location, and would compete for traffic with suburban casinos -- but is also likely to draw in new gamblers, McGill added.