Chairman of Wynn Resorts, Stephen A. Wynn announced yesterday that he will be going to Harrisburg on Wednesday to outline his plans to revamp a struggling casino project in Philadelphia to the Pennsylvania state Gaming Control Board. He claims that with his help the new project will become one of "the cutest casino you have ever seen,” but right now he is still waiting on approval.

Wynn is said to have first discussed his idea for reviving the Foxwoods Casino project in Philadelphia during a conference call with stock analysts shortly after the company’s year-end results came out.

On Tuesday it was confirmed that Wynn Resorts has signed a letter of intent to take control of developing and running the struggling project contingent on state regulator’s approval. The Foxwoods project won one of the city’s two slot licenses back in 2006 but is at risk for losing it if they can’t get their act together soon because of their repeated delays.

The original plan was to build a destination resort with a hotel on site for out of town visitors but Wynn says that they would rather focus on developing a “straightforward casino” and drop that portion of the project. This would mean a bigger game floor and potentially more business for hotels already in the area.

Wynn would not directly disclose how much the company is planning to pay for the waterfront site but did say that it would not be "an earth-shaking number," indicating that it would probably be relatively generous but not obscene.

He is reported to have spent “eight to nine hours day” for the last several weeks trying to work out the exact details of how he would like to develop the Philadelphia casino but appears quite enthusiastic at about the idea. "I'm happy to say we're feeling very good about it," Wynn told analysts.

From there he went on to detail some of his plans for the site. "It will have all the bells and whistles of a good-looking casino," he told reporters. These bells and whistles will include 3,000 slot machines, a generous collection of table games, a poker room, an Italian restaurant, a steak house, and an Asian restaurant.

He is also very excited about the site’s close proximity to the Italian and Vietnamese neighborhoods of South Philadelphia. He said the area was "all full of my old friends - the Italians and Jews and every conceivable type of ethnic group that likes to play craps and gamble - and they're only 10 minutes away." Then he continued, "I love the proximity of the Vietnamese neighborhood, and I'm going to put in a Vietnamese restaurant for them.”

Upon regulatory approval he says the company hopes to be, “out of the box as quickly as we can."

Wynn Resorts would take control of the project from the Mashantucket Pequot tribe, who operate the flagship Foxwoods Casino in southeastern Connecticut. The tribe, as well as local investors, would still maintain an interest in the project, but would no longer have a majority stake in the new casino.

No news yet on when Wynn Resorts would plan to have the casino completely up and running.