Mayor Nutter today said that the revocation of the Foxwoods casino license could take a toll on the city's finances.
Nutter said the city is expecting between $33 million and $35 million in casino revenues, starting in the 2013 fiscal year. But the state Gaming Control Board today yanked the license for the planned casino on Columbus Boulevard, putting the plans for Foxwoods into doubt.
"Obviously, we're currently in FY11, it doesn't have a near term impact," Nutter said. "But we do five year plans, we have to anticipate that. If that entity or some other entity is not up and running by that time, we'll have to make adjustments."
Nutter said he didn't know the exact reasons for the Gaming Board's decision.
"I think this is a cascading series of challenges, deficiencies, problems that have come up over a time, primarily due to the economy and other internal challenges," Nutter said.