Wynn Resorts partners with New York Related Companies real estate developer for casino license

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Wynn Resorts Ltd. is partnering with a New York real estate company to secure one of three new upstate casino licenses in a Manhattan neighborhood.

Related Cos. and Wynn announced the agreement on Thursday to develop a casino, resort and entertainment area near the Javits Center on the west side of the Hudson Yards near the Hudson River. The Hudson Yards – home to the copper-colored latticework structure called the Ship – is a $25 billion development by billionaire Stephen Ross Related’s company and Oxford Properties Group.

According to the companies’ plans, the project would include residences, offices, retail, restaurants, cultural institutions, residences, 5 acres of public plazas, gardens and groves, the world’s first Equinox hotel and a public school with 750 places.

Additionally, Hudson Yards is within walking distance of all major public transportation in the area, including trains and the Hudson River Ferry.

“Wynn Resorts has a long history of using a compact, upscale casino to support the creation of spectacular resort experiences that appeal to a range of guests – travelers and locals alike,” said Craig Billings, CEO of Wynn Resorts, in a press release. . “We look forward to engaging with the community to hear expectations for our development.”

Related Cos. CEO Jeff Blau said in a statement that his company looks forward to working with Wynn.

“As New York emerges from the pandemic, the Western Yards provide the perfect site for a resort that will reinvigorate our tourism economy and provide billions in tax revenue to the city and state,” Blau said.

In addition to Wynn Las Vegas and Encore, Wynn operates three resorts in Macau and Encore Boston Harbor in Everett, Massachusetts.

Several casino companies, including some based in Las Vegas, have expressed interest in competing for the three state licenses that will be awarded by the state.

Other companies expected to be in the running are Las Vegas-based MGM Resorts International; Las Vegas Sands Corp., which has resort properties in Macau and Singapore; Hard Rock International, owned by the Seminole Indian Tribe of Florida, who purchased and renamed The Mirage as the Hard Rock Hotel; Bally’s Corp., which is expected to obtain a license to operate the Strip’s Tropicana Las Vegas next week; Malaysia-based Genting Group, which operates Resorts World Las Vegas; Reno-based Caesars Entertainment Corp.; and Chicago-based Rush Street Gaming.

When New York Governor Kathy Hochul and state legislative leaders accelerated the licensing of new casinos in April, they reignited interest in the state’s casino gaming expansion in one of the most densely populated areas in the country.

A New York law approved by voters in 2013 authorizes a total of seven casinos, including all three in the New York area. Four have already been built in upstate New York.

Sen. Joe Addabbo, D-Queens, who chairs the committee on racing, gaming and betting, said two existing casino operators near New York would likely have the preferred route in awarding the new licenses.

Resorts World New York City, operated by the Genting Group, is attached to the Aqueduct racetrack and opened in 2011 after the legislature authorized slot machines at racetracks in 2001.

In addition to slot machines, Resorts World New York City, which has sister property Resorts World Catskills in New York City, has over 6,500 automated slot machines and table games. The new license would allow live table games.

The Empire City Casino at Yonkers Raceway is operated by MGM Resorts International and also features slot machines and automated tables in a racing environment.

The Review-Journal is owned by the Adelson family, including Dr. Miriam Adelson, majority shareholder of Las Vegas Sands Corp., and Patrick Dumont, president and chief operating officer of Las Vegas Sands.

Contact Richard N. Velotta at [email protected] or 702-477-3893. Follow @RickVelotta on Twitter.

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