stakes of cash

Hudson Yards Could be Set for Mega-Casino Complex as $10 Billion New York Bid Is Revealed

Ongoing moves to open a series of casinos in New York City continue to be the talk of the town, and the latest proposal to gather momentum could end up being situated in Hudson Yards.

The plans come via Related Companies, with their CEO Jeff Blau stating that a proposed $10 billion development, which will include a three million square foot resort tower, which would be Wynn-branded. 

The development would include a 1700-room hotel and offer table games and a selection of high-end eateries and would be a massive undertaking, to say the least.

“It will be one of the most incredible tall buildings in New York City,” Blau proclaimed.

The updated plan adds to an earlier proposal which outlined a public park, a rental apartment block with over 300 affordable housing units, a school; and Blau is incredibly confident that these plans will be approved, stating;

“For these reasons, we feel we’re in a fantastic position with the best proposition.”

The pitch also includes plans for a two million-square-foot office tower, with the Wynn-backed casino being the “centrepiece” of the project.

Other bidders looking to secure a valuable New York casino license include Caesars Palace, which is looking to build a casino in Times Square, and there are also Las Vegas Sands who wish to park their project in Uniondale on Long Island.

Online casino action was legalized in New York in January 2022, and the market has blown up over the past year and a half, and therefore, efforts to open brick-and-mortar options were always going to be a money-spinner, hence no lack of interested parties seeking to secure the relevant license to do so. 

The profitability of online gambling isn’t just restricted to casinos, with the authorities picking up almost $1 billion in tax revenue from January 2022 to May 2023 alone.

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