Developer Related Companies said it will undertake a US$10 billion redevelopment of the entire western half of Hudson Yards for a new complex that is expected to feature a 250,000 sq.ft Wynn casino and a luxury hotel with 1,700 rooms within a “resort” tower.
Seeking to expand gambling in New York, the state confirmed plans for three downstate casinos earlier this year. The competition is fierce, given that only three licenses are planned but two of them are likely to be secured by existing racinos. This means that it is quite likely major gambling industry players to compete for the single license remaining.
The Wynn tower would house a casino offering craps, poker, roulette, as well as blackjack games in the skyscraper, along with high-end restaurants and shops.
“It would be one of the most incredible tall buildings in New York City,” said Related CEO Jeff Blau to The Post. He also commented that there are plans to include a two million square foot office tower on 6.5 acres of undeveloped land at Hudson Yards.
Although Related Companies undoubtedly has an ambitious plan for a downstate casino, competition is certainly not backing out as several other companies are bidding. Some of them includes Caesars, Bally’s, Mohegan and Soloviev Group, Sakes Fifth Avenue, Rush Street Gaming and Vornado, MGM Resorts, Las Vegas Sands, Hard Rock, Genting Malaysia and MLB New York Mets owner Steve Cohen.
Source: GMB
