Wynn’s Hudson Yards Casino Plan Detailed by Joint Developer Related Companies

Article ByDavid Weir

May 30, 2023

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Posted in: New York Gambling News, US Casino News

Real estate developer Related Companies has released more details this week on the joint plans with Wynn Resorts for a $10 billion development on the Hudson Yards site on the West Side of New York City.

The plans include a 1,700-room Wynn Casino and Hotel tower with 250,000 feet of gaming space, as detailed in the New York Post. If built, that would mean it has more casino floorspace than Wynn’s flagship Wynn Las Vegas Casino.

The proposals include a 2 million-square-foot office tower, a new public-school facility, and 329 affordable public housing units in a new rental apartment tower.

“It will be one of the most incredible tall buildings in New York City,” Jeff Blau, CEO of Related Companies, told The NY Post.

One of Three

Related and Wynn have seized the opportunity to push their plans now, after several of their rival’s bids have seemingly faltered in recent weeks.

Half a dozen teams of casino operators and local developers are currently competing against each other with audacious multi-billion development plans. The prize? One of three downstate New York casino gaming licenses to be given out later this year.

However, the state’s two existing but limited racetrack casinos, Resorts World NY in Queens and MGM’s Empire City in Yonkers, are considered nailed-on favorites to get two of the three licenses.

That leaves just one up for grabs.

So far, Wynn’s Hudson Yards plan and Las Vegas Sands’ Nassau County site on Long Island have been the least controversial with local residents and governments.

Faltering Bids

The outlook for some of the other bids is not so good. National operator Bally’s has agreed on a deal to buy 17 acres of Trump Links golf course land at Ferry Point in the Bronx – but the project is facing several bureaucratic hurdles, including rezoning troubles.

Elsewhere, New York Mets baseball team owner Steve Cohen’s bid to build a casino resort near his own Citi Field stadium in Queens is also looking shaky.

A dispute over parking, zoning laws, and a massive soccer stadium and redevelopment project in the same areas are all causing his bid problems.

Caesars is also aiming for a Times Square development in the heart of NYC. That project is backed by hometown hero and billionaire rapper Jay-Z’s Roc Nation. But it still faces stiff opposition from local residents and businesses.

Looking to Win

Wynn and Related Companies have several advantages with their bid.

So far, no large residents association or other interest group has come out and publicly opposed the plan.

Then there’s the nearby Javits Center. This huge convention center and events space could massively benefit from a new hotel and resort complex in the area.

“The Javits Center just expanded, but continues to lose business to other cities because it doesn’t have a hotel,” Blau said.

Wynn already has great relationships with convention centers in Las Vegas, and has experience bringing in that kind of business, so lawmakers in West Side Manhattan could see that as a big plus.

After detailing much of that potential to The Post, Blau was feeling confident about his and Wynn’s prospects.

“For these reasons, we feel we’re in a good position with the best proposal,” he said. “We’re looking to win.”

However, it might not all be smooth sailing for the Hudson Yards plan. State Senator Brad Hoylman (D-47) will be on the six-person committee that has final say on the bid – and he isn’t a big fan of the project in its current form.

“It’s a steep hill to climb, given the community was promised open space, a public school, and affordable housing where the casino is proposed,” Hoylman said.

On the other hand, Related Companies is a big donor to New York Governor Kathy Hochul, who will also sit on the committee.

Whoever gets offered a license will each pay out more than $1 billion to state regulators in order to secure it, before any casino construction can begin.