Casino Impresario Steve Wynn announced last week that he would come back to Atlantic City and build a show stopper property. His only condition? That he be given the right to develop the Bader Field property which is the closed city airport.
In many ways these statements are an echo of the nineties when he acquired the H- tract where the Borgata Casino and Spa now stands.
His acquisition spawned a feud with Donald Trump as Wynn required a feeder lane and tunnel from the Atlantic City Expressway practically to the foot of his proposed casino.
Trump filed numerous suits helping residents opposed to the tunnel and the eminent domain proceedings. Eventually, Trump’s complaints subsided as an additional ramp was built to his Marina property.
The issue also became moot as MGM chairman Kirk Kerkorian made an offer for Wynn’s Mirage corporation. Supposedly, Wynn initially refused the takeover offer eventually relenting. MGM acquired the H-tract and with the Boyd Corporation developed the Borgata.
Wynn was accused of acquiring the H tract just to be able to sell his corporation. It is interesting to note though the only other offer made to develop the H tract had been Donald Trump’s plans for a golf course. The H-tract formerly was a landfill.
As in the nineties, Wynn has an opponent. Pinnacle Entertainment’s Daniel Lee which is going to demolish the closed Sands Casino and build a Mega resort threatens to stop plans for development if the city allows casinos to be built on the Bader Field property.
So we have one casino developer who wants to build with the proven ability to develop winning properties with a penchant of getting his way.
His opponent threatens to withdraw his corporation’s development if a casino is built on the airport property. What will the city do? Stay tuned.
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