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Related, Wynn Scrap Plans for Casino Near Hudson Yards

Barchart·05/19/2025 14:30:15
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Citing community opposition, Related Companies and Wynn Resorts have dropped their $12-billion bid to build a casino near Related’s Hudson Yards complex on Manhattan’s Far West Side. Applications to the New York State Gaming Commission to develop a downstate casino are due next month.

“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,” Wynn said in a statement Monday. Friends of the High Line and Manhattan Community Board 4 led the opposition to the project.

The Gaming Commission is expected to award up to three New York City-area casino licenses, with decisions handed down by the end of 2025.

The post Related, Wynn Scrap Plans for Casino Near Hudson Yards appeared first on Connect CRE.