Wynn Resorts announced that it would no longer be seeking a gaming license at the Western Rail Yard development, marking one less casino bid for NYC.
Rendering courtesy of Related Companies and Wynn Resorts
There’s one less bid in the running to bring a new casino to New York City.
Wynn Resorts recently announced that it would no longer pursue a gaming license for its originally proposed development with Related Companies. The proposed casino, slated for Hudson Yards, would have been part of a development at the Western Railyard that consists of office towers, high-end stores, and luxury apartments.
In the statement, Wynn Resorts cited the rising opposition as part of the reason why they withdrew their application.
“After careful consideration, we have decided not to lodge an application for a gaming license in New York City. 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 buy backs, 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,” said Wynn Resorts in a statement.
Following the announcement, Manhattan City Council Member Erik Bottcher noted that he did not support the bid to have a casino at the development, citing the community’s apparent lack of support.
“This casino proposal did not meet the high bar of community support that such a consequential project demands. I have always said that any development of this scale must put the needs of New Yorkers first — and that means housing,” said Bottcher.
Related Companies will be continuing its work on the proposed development, in a deal created with the City Council. The development is expected to bring new housing, including hundreds of new affordable apartments, coupled with a 5.6-acre public park.
Bottcher said that the development “remains a once-in-a-generation opportunity” for the area, noting that with the absence of the casino, share of affordable rentals increased from 8% to 25% with up to 4,000 total apartments planned and the green space will be expanded from 5.6 to 6.6 acres, resembling the original plans brought forward in 2009.
“This is a must-act moment for our city—a chance to deliver the housing, schools, and open space New Yorkers so urgently need. We can’t afford to let this opportunity slip away. I look forward to advancing this ULURP and helping turn this long-promised vision into real progress for the West Side and for all of New York City,” said Bottcher.
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