The Pennsylvania Gaming Control Board issued the decision Wednesday after Wynn made his first appearance before the panel.
Wynn's plans entail taking control of the Foxwoods Philadelphia casino project. The 68-year-old Wynn has developed several landmark casinos in Las Vegas.
He outlined his plan for the casino, including wider roads to accommodate traffic and the addition of a nightclub.
However, when it came to discussing the Foxwoods waterfront home, Wynn pulled no punches.
"The waterfront is horribly ugly in that place. You couldn't do more damage to it if you set it on fire," Wynn said.
In January, the board ordered Foxwoods Philadelphia to explain rampant delays and financial troubles since its license was awarded in 2006.
Wednesday's hearing was briefly interrupted by anti-casino activists.
The protesters began heckling Wynn as he addressed the board about a plan to take over a long-stalled Philadelphia casino project. Police escorted about a dozen protesters from the meeting.
The protestors said casinos exploit the habits of gambling addicts.
Wynn responded by saying, like drug abusers, gambling addicts need help.
"Addictive personalities are part of society. They'll gamble whether there's a legal casino here or not," Wynn said.
The board gave Wynn until March 31 to submit a financing plan and until April 26 to submit construction and design details.
Wynn announced his intention to take over the project last month, but has not yet sought board approval of his plans.
The Associated Press contributed to this report.
