Wynn Decides Not to Pursue NY Slot Machines 

The Wynn Resorts company has decided that they are not going to compete for a slot machine license for New York. They were vying for the right to run the slot machines at the state’s famous Aqueduct Racetrack, but have decided to withdraw their bid for that honor. Needless to say, many were shocked by the turn of events. 

The company had just released new numbers showing how well they were doing when they announced the pull of their bid. Two days before the bidding was done, they announced that they were pulling their bid and that they were not going to be involved in their slot machine industry.  Had they gotten the bid they would have been responsible for running more than 4,000 slot machines for the state. 

Both Penn National Gaming and MGM Mirage are moving forward with their bids to run the slot machines, and Penn National has already come forth offering $250 million to get that license. The company has done well over the years, although not so much as of late. The company thinks that these slot machines might be their answer. So although their stock prices are falling, their spirits are not. 

The Governor is expected to announce before next Labor Day who will be getting the slot machine license. Both companies are excited to think that it might be them that get the right to do so – and are eagerly anticipating the decision. Only time will tell if Wynn is doing the right thing by pulling out.