Hudson Yards casino plan dropped over backlash to – Business News
A controversial proposal to construct a $12 billion casino complicated in Hudson Yards close to the High Line was dropped within the face of fierce neighborhood opposition, officers mentioned Monday.
The Wynn Resort-Related Companies partnership introduced it withdrew the bid, which was due for submission subsequent month.
“After careful consideration, we have decided not to lodge an application for a gaming license in New York City,” Wynn Resorts mentioned in a assertion that got here the identical day rap star Jay-Z was in Albany lobbying state lawmakers over a rival casino proposal in Times Square.
A rendering of Related Companies/Wynn’s plan for a casino in Hudson Yards — which has been canceled. Related Companies and Wynn Resorts
Wynn cited “persistent opposition” for the withdrawal.
“The recent rezoning process has made it clear to us that there are uses for our capital more accretive to our shareholders, such as investment in our existing and upcoming developments and stock buybacks, than investing in an area in which we, or any casino operator, will face years of persistent opposition despite our willingness to employ 5,000 New Yorkers,” it mentioned in a assertion.
“We sincerely thank those who have supported our efforts, including our partners at Related Companies, and continue to believe that their proposed Hudson Yards West development is an outstanding opportunity for New York City.”
The proposal, which was opposed by Friends of the High Line and Community Board 4, is simply the newest development plan to get scuttled on Manhattan’s West Side after deliberate skilled sports activities complexes had been blocked.
Wynn cited “persistent opposition” for the withdrawal. AP
Two state legislators representing the West Side of Manhattan opposed the casino plans. Related Companies and Wynn Resorts
Jay Z in the meantime met individually with state Senate Majority Leader Andrea Stewart Cousins (D-Yonkers) and Assembly Speaker Carl Heastie (D-Bronx) within the state Capitol.
Sources mentioned Jay-Z was within the capital to focus on the glittering casino plan for 1515 Broadway, in partnership with SL Green and Caesars in addition to his leisure company, Roc Nation.
The odds may very well be long. .
The Broadway League and the No Times Square Casino, which incorporates many neighborhood and civic leaders, oppose having a casino within the Great White Way.
“I don’t think there is going to be a casino in Manhattan,” mentioned John Sabini, former chairman of the state racing and wagering board, citing grassroots opposition.
A casino industry insider mentioned Wynn’s withdrawal boosts different bidders, together with doubtlessly Mets billionaire proprietor Steve Cohen’ s partnership with Hard Rock for a proposed $8 billion “Metropolitan Park” casino complicated subsequent to Citi Field.
Las Vegas Sands additionally just lately withdrew its bid to open a casino on the Nassau Coliseum hub.
“Cohen has been all over the playing field,” the source mentioned, referring to the tens of millions of {dollars} Cohen has spent on lobbying and public relations efforts in Albany and in Queens.
Assemblyman Tony Simone mentioned that he’s “philosophically opposed” to the casino project. Related Companies and Wynn Resorts
Wynn’s bid was due for submission subsequent month. Related Companies and Wynn Resorts
Bidders with chips nonetheless on the desk:
— The Steve Cohen-Hard Rock ‘proposed $8 billion casino subsequent to Citi Fields bid requires the legislature to approve a state law to repurpose the heaps round Citi Field from parkland to industrial use to building a betting facility.
The state Assembly has already handed the measure, however it’s awaiting motion within the state Senate. Local state Sen. Jessica Ramos, whose district contains the guts of the project, is opposed.
— World Trade Center developer Larry Silverstein is making a play to the north on the Far West Side. Silverstein Properties just lately introduced on gaming operator Rush Street — which operates Rivers Casino and Resort in Schenectady — for its bid for a 46-story combined use casino complicated referred to as the Avenir, on vacant property at eleventh Avenue and forty first Street.
Assemblywoman Deborah Glick informed The Post that she is anxious with the proposed casino’s proximity to the High Line. Kristy Leibowitz
— A Times Square casino proposed at 1515 Broadway — home of the Minskoff Theatre and “The Lion King” Disney musical — by Caesars Entertainment, SL Green and Jay-Z’s Roc Nation.
— The Soloviev Group, in partnership with gaming operator Mohegan, is wanting to construct a mixed-use casino proposal referred to as Freedom Plaza alongside First Avenue between East thirty eighth and forty first Streets close to the East River.
—Over in The Bronx, Bally’s is proposing a casino and leisure complicated subsequent to the golf course it took over from the Trump Organization in 2023 — renaming “Trump Links” at Ferry Point to “Bally Links.”
Like Cohen, Bally’s bid requires Albany’s legislative approval to repurpose parkland for industrial use. That invoice remains to be in committee, however Bronx lawmakers have pledged to assist it.
The casino is simply the newest proposal to get scuttled on Manhattan’s West Side. Bloomberg
— In Brooklyn, there’s a plan to open a $3 billion “Coney” casino by Coney Island’s fabled boardwalk, simply steps from the seaside, situated smack between the long-lasting Cyclone and Wonder Wheel. Partners embody Thor Equities, Legends Entertainment and the Chickasaw Nation
— Genting, the proprietor of the Resorts World World slots parlor at Aqueduct race observe that opened in 2011, has proposed a $5 billion plan to broaden its present operations and likewise offer dwell desk video games resembling black jack and crap, in addition to a 7,000 seat live performance venue.
— In Yonkers, MGM Resorts International, which launched slot-machine-style gaming in 2006 with its Empire City Casino subsequent to the racetrack there, additionally is aiming for a full gaming license with a $3 billion growth plan that will offer dwell desk bets.
Casino purposes should be submitted to the state by June 27.
Community advisory councils will then have to vote on any bids situated of their jurisdiction by Sept. 30. Reps on these committees embody the mayor and the native borough president, state Senators, Assembly members and City Council member.
The state Gaming Commission will award up to three casino licenses and gather a $500 million license charge from every recipient by Dec. 31 after review of bids by the state Gaming Facility Location Board.
