Steve Wynn's (casino big shot) $l.5 billion MGM Mirage project in Atlantic City was laid to rest! The plan which was initiated in 1995 was to construct a monumental casino in the Atlantic City marina area.
However, after much consideration it was decided to put more gaming effort in Pennsylvania, New York, Britain, and other areas. Already $220 million has been spent digging a tunnel to the marina and nine homes were already knocked down for the proposed plan to take off. The $1 billion Borgata project owned by MGM Mirage and Boyd Gaming Co., however, will not be affected. On Wednesday, Terrence Lanni, CEO of MGM Mirage, said that although Atlantic City still remains a hot bed for gambling, other areas need to be pursued due to the competitive nature of the gaming industry.
Ed Rendell, the Pennsylvania gubernatorial candidate, promises to develop the gaming industry and to introduce racetrack slots if he wins the election in November. Mayor Lorenzo of Atlantic City said that he doesn't buy MGM Mirage promises. In fact Lanford was not in favor of the tunnel proposed by Steve Wynn, which eventually was built to the tune of $220. Million!
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