Foxwoods in Danger of Forfeiting Casino License

The Foxwoods organization is getting alarmingly close to losing their casino license in Pennsylvania. The state Gaming Control Board has repeatedly warned the group that they must stop missing their deadlines, or risk facing their casino license.

The staff of the Gaming Board has petitioned the Board on April 30th, 2010 to begin proceedings that would strip the group of their license. Although, that is the recommendation, that does not mean that Gaming Board has shutdown the door on the license issue.

There is still time remaining for Foxwoods and the Board to come to an acceptable deal for both sides that would permit the Foxwoods to keep the casino license. But the negotiations between the two sides must take the negotiations seriously if the license is to be saved.

Casino mogul Steve Wynn was supposed to be the savior of the Foxwoods project that has been temporarily postponed because of the condition of the credit market, but Wynn suddenly decided to pull out of talks for the chance to take over the management of the project.

Wynn said that the timing was not right for his company’s entry into the gaming industry of Pennsylvania. That Wynn would pull out of the agreement is a telling evidence considering that the gaming industry is about to take off.

Pennsylvania casinos have already passed casinos in Atlantic City in slot machine revenue and come summer, the casino facilities will be ready to offer casino table games.