The Grueling Truth - Where Legends Speak / News / Related Companies, Wynn Resorts announce joint bid for new NY casino

Related Companies, Wynn Resorts announce joint bid for new NY casino

On Thursday, Related Companies, the developer of Hudson Yards, and Wynn Resorts, a casino company and the owner of high-end hotels, announced the first public bid for a casino in Midtown Manhattan. The casino will be located near the Javits Center on the western part of Hudson Yards.

The two parties’ decision further opened the door for the national gambling market to enter the city after New York lawmakers had previously approved up to three full-service casinos for New York City in April.

Previously, Resorts World was the only casino-like facility available to New York City residents. Despite the fact that the casino, which is located within the Aqueduct Racetrack, only has slot machines and no table games, Resorts World had the highest gambling revenue of any casino location outside of Nevada in 2021.

The application from Related and Wynn requires an approval from a six-person community advisory committee that has not yet been established in order to move forward.

The state’s gambling commission reportedly has until October to establish a committee that will oversee the application procedure.

The location of the casinos will be decided by the gaming commission, according to a statement from the mayor’s spokesman, Fabien Levy.

“The gaming commission will decide on where these casinos will be located, but we are hoping two of the three downstate casinos will be placed in New York City,” Levy said.

There had been some differences of opinion over the years regarding what should be built in the undeveloped area of Hudson Yards between New York City officials and developers. A former industrial neighborhood, Hudson Yards was reportedly the city’s bid for several Olympic venues in the 2000s.

It was also claimed that a number of other casinos and real estate developers were considering locations in New York City.

For instance, Marc Holliday, the CEO of SL Green Realty, suggested that Times Square would be the perfect setting for a casino. Similarly, Thor Equities expressed intention to construct a casino facility on Coney Island.

Meanwhile, the owner of the New York Mets, Steven Cohen, is rumored to have spoken with Hard Rock about building a casino close to Citi Field.

Wynn Resorts

Wynn Resorts, Limited is an American publicly traded corporation based in Paradise, Nevada, that is a developer and operator of high-end hotels and casinos. (wikipedia)

Steve Wynn

Stephen Alan Wynn is an American real estate developer and art collector. He is known for his involvement in the American luxury casino and hotel industry. (wikipedia)

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