Wynn has declined to confirm discussions with Trump, although the latter told reporters recently that, "Steve and I are talking about something very exciting." Both declined to answer questions on the subject during recent Q3 earnings conference calls. And Gov. Jon Corzine confirmed during a campaign stop in North Jersey earlier this week that he had met with Wynn last week, with that discussion focusing on a possible site.

Specifically, according to a source with knowledge of the plans, Wynn asked Corzine if the state would be willing to turn over Boardwalk Hall for redevelopment as part of the new mega-resort. Boardwalk Hall, a well-known landmark built in the late 1920s, seats 14,000 for a variety of events. Once known as Convention Hall before being replaced by the newer Atlantic City Convention Center, it was refurbished to the tune of $90 million just four years ago. It's owned and operated by the New Jersey Sports and Exposition Authority, a state agency.

According to the source, the plans also call for Wynn to team up with Trump to demolish the existing Trump Plaza Hotel and Casino. The latter sits on a 12-acre site, which, the source says, is too small for the kind of property Wynn has in mind. Boardwalk Hall's seven acres would boost the assembled site to 19 acres.

During his campaign stop, Corzine was noncommittal on the plans as they might involve Boardwalk Hall. He indicated that he was "keeping his options open. It is not this option or nothing."

The speculation about a Wynn-Trump deal comes as other major casino-hotel projects are set to launch here. As reported by GlobeSt.com, Pinnacle Entertainment recently bought the Sands and an adjacent site for $250 million with plans to tear the hotel down and replace it with a new resort. The Sands is closing for good this month.

An affiliate of Morgan Stanley is getting ready to develop a casino-hotel on a site adjacent to the existing Showboat. And former executives of Park Place Entertainment recently bought a site adjacent to the Hilton Casino Hotel.