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The Wynn Resorts casino project in New York
At the moment, several operators are presenting hotel-casino projects to obtain one of the 3 licenses in the south of New York State where the eponymous city is located.
Among them, for example, is the Wynn Resorts group, which has teamed up with real estate developer Related Companies.
Together they want to open a gaming facility in the Manhattan borough. Recently, a few more details about this project have been revealed.
An ideal location in the Hudson Yard neighborhood
It was earlier this year that the Wynn Resorts Group announced that it was seeking a valuable license to open a hotel-casino in New York City in partnership with Related Companies. The Chairman and CEO of the latter real estate developer (Jeff Blau) gave an interview to Bloomberg Television a short while ago.
If it is finally chosen by the competent authorities, the hypothetical gaming establishment will be part of the second phase of the famous Hudson Yard project, located in the neighborhood of the same name between Chelsea and Hell’s Kitchen on the far west side of Manhattan.
Between 11th Avenue and the Hudson River, it will house 1,500 rooms or suites, 20 restaurants, a nightclub, a theater and, of course, a casino itself with slot machines and tables dedicated to traditional games.
In the real estate business, the question of location is always central. Jeff Blau recently stated that he believes the project is ideally located to generate the best economic development results for the state and city of New York.
The CEO of Related Companies has spoken of the potential for $10 billion in new development and the creation of many new jobs at a time when this region of the United States is still suffering from the economic slump caused by the international Covid-19 coronavirus pandemic.
>>> Read also: “New hotel-casino project presented in New York”
The main competitors of the project led by Wynn Resorts
As we mentioned in the introduction, there will be 3 licenses to deliver in Southern New York State. However, most experts believe that we should expect 2 of them to be awarded to gaming venues: Empire City in Yonkers and Resorts World in Queens. Thus, the suspense is mainly on the last authorization. All of them should be issued by the end of next year.
Of course, the Wynn Resorts group is not the one and only in the race. Its main competitor remains Caesars Entertainment. In partnership with SL Green Realty, it wants to open a hotel-casino at 1515 Broadway in the middle of Times Square.
While various celebrities have joined this project such as rapper Jay-Z and boxer Floyd Mayweather Jr. he also faces vigorous opposition. It is mainly led by the Broadway League trade association and the Shubert Organization theater owner.
Other proposals have also been unveiled. While most are limited to the boroughs of Manhattan and Brooklyn, some mention other neighborhoods. There is even one in Westchester County in the suburbs of New York.
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