Your move, Steve Wynn

Philadelphia casino-applicant frontrunner Bart Blatstein has a new sidekick. He’s ditched Hard Rock International in favor of … Isle of Capri Casinos. It’s a big win for Isle and a very embarrassing public setback for the Seminole Tribe, which Blatstein characterized as too slow-moving for his needs. The new alliance also has sentimental ties for Philadelphia native — and Isle CEO Virginia McDowell. (Hmmm … a Philly developer and casino manager working together? Should be music to city officials’ ears.) Isle can cover its $25 million bet if it sells Quad Cities laggard Rhythm City Casino, one of the lesser performers in the Isle fleet. If Blatstein’s bid is successful, Isle reaps newfound prestige. If not, it’s not out a red cent. The notion of Isle trumping Wynn Resorts may seem far-fetched but Blatstein is far more juiced into the City of Brotherly Love than is El Steve. (Other rival bidders, such as Penn National Gaming and Parx Casino, have already had a bite of the apple that is the Pennsylvania market — two bites, in Penn’s case — and may be dismissed accordingly.) Given recent oversaturation of the Philly-casino market, it surprising to see developers offering to put in $700 million or more. Then again, did you ever imagine Steve Wynn would be the underdog in this scenario?

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