Related Partners, Wynn Resorts to Bid for Hudson Yards Casino
Related Companies announced Thursday it will be partnering with Wynn Resorts in the first publicly announced bid for one of three new casino licenses open to city developers, the New York Times first reported.
The casino would be located next to the Javits Center on the undeveloped western side of Hudson Yards, the mega-development by Stephen Ross’ firm in Midtown West.
The announcement from the developer and hotel giant marks the first publicly announced bid after lawmakers in April approved up to three full-service casinos for the New York City area.
Despite an initial rush of interest from developers, decisions will likely take months. The state’s gambling commission has until October to create a board that will oversee the application process, which will begin within 90 days after its establishment.
The six-person advisory committee that Related and Wynn will have to win over will have representatives from Mayor Eric Adams, the governor, the local City Council member, the borough president, the local Assembly member and the local state senator.
A spokesperson for the Mayor said that they are hoping two of the three downstate casinos will be placed in New York City.
The city’s only nearest available option is Resorts World facility at the Aqueduct Racetrack in Queens, which has video slot machines but no table games. The resort and mall operator last year brought in the most gambling revenue of any casino property outside Nevada.
Related and Wynn are in good company among some of the biggest names in business interested in developing a casino within city limits.
New York Mets owner and billionaire fund manager Steve Cohen has reportedly been in talks with Hard Rock to develop a casino near Citi Field. Thor Equities hinted at building a casino on Coney Island. In an earnings call earlier this year, SL Green CEO Marc Holliday said Times Square would make an ideal location for a casino.