Posted Apr 9, 2025, 11:40 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 56,199
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One thing everyone has got to understand - including these reporters - is that the casino bidding process hasn't even started yet. Everything moving through any type of approval process now is land-use related. The casino approval process is to begin this summer.
https://www.amny.com/news/hudson-yar...a-development/
Hudson Yards West project with proposed casino moves closer to approval; will plans help give MTA a financial boost?
By Barbara Russo-Lennon
April 9, 2025
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The bidding war for a NYC metro area casino license is heating up as the Hudson Yards West project received a green light from the City Planning Commission (CPC) on Wednesday, moving it one step closer to an approved reality.
Related Companies/Oxford Properties Group and Wynn Resorts, the developers and gaming gurus behind the project, said the commission “overwhelmingly voted” to support modifications required to revitalize the existing Western Railyards with a gaming resort, housing and green park space.
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The application is distinct from the more involved state approval process for gaming facility licenses.
“While this is a significant proposal before us this morning, the scope of what we’re actually voting on is much narrower,” CPC Chair Dan Garodnick said. “Our vote is on land use actions to allow for this site to compete with other regional applications for a gaming license, and in the alternative, to ensure a site plan that delivers for the public.”
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‘$2.7 billion for the MTA’
Should the casino be built, the bigwigs in charge of the project said 1% of gross gaming revenue would be given to nearby community organizations, likely in Chelsea, Hell’s Kitchen, and the West Side of Manhattan. They also said transit services would benefit from a full-service casino in the neighborhood.
As the state-run MTA faces several financial challenges, including a $68.4 billion capital plan that is still waiting for approval and the fate of congestion pricing still in the hands of federal court, casino bidders said gaming revenue can help support expensive transportation enhancement projects.
“The development is also projected to generate $2.7 billion in revenue for the MTA, providing a much-needed boost for public transit at a time of fiscal uncertainty,” a spokesperson for the project said.
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One thing that was made clear from an earlier meeting is that, even if the original site planning was financially viable (it isn't), the MTA has already rejected that plan as not compatible with the railyards.
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