NEW YORK | Casino Development| FT| FLOORS

[MAC123]

They might be able to find the floorplates necessary in HY. Especially at 30 HY, though I don't know the occupancy of that or if they want a more specialized building for it.
Besides it's Manhattan, if they can't find the space they'll just have to deal with smaller floorplates because there's no way they're not building one here if they're allowed to.

[NYguy]

^ The HY towers are full. Then there’s the issue of tenants. None of the current (or likely potential) tenants would want the chaos of a NYC casino in their building. A hotel is another matter, and would be best for a casino.

They could have put one on the pier (behind Javits), but that’s a park now. The larger of the 2 sites the state owns in HY would be a good location, next to the Javits. But they likely want housing there.




https://www.nytimes.com/2022/05/02/n...n-nyc.amp.html

5 Things to Know About Casinos That May Be Headed for the N.Y.C. Area
Yonkers, Queens and maybe Manhattan: The sites for three new casinos have not yet been set in stone.


By Dana Rubinstein
May 2, 2022

Whether New Yorkers are ready or not, casinos will soon be coming to the New York City area.

Precisely how soon and how many remains to be determined. What we know now is that in April, New York State approved the issuance of three new casino licenses intended for the area.

Technically, one or more of the licenses could be issued to a casino operator in another part of the state, but they are widely expected to go to the downstate region.

The state legalized casinos in 2013, but effectively agreed not to place any in the downstate region until 2023. Gov. Kathy Hochul and the State Legislature wanted to move faster and included a provision in the recently passed budget to advance the timeline.

MGM’s electronic gambling facility in Yonkers, just north of New York City, is thought to be one of two locations with a leg up in the process, along with the Resorts World facility at the Aqueduct Racetrack in Queens. Both are already home to “racinos” — horse racetracks that have expanded to include casino-like properties, but with video lottery terminals, not table games.

Given their longstanding community and political relationships and pre-existing infrastructure, they are considered to be favorites for two of the three licenses.

There is a strong possibility that the third would be in Manhattan. While the prospect of a Manhattan casino has bewitched developers from Hudson Yards to the East River, winning permission from local politicians is still considered a heavy lift.

Other parts of the city are also in play, including neighborhoods in Queens and Brooklyn.

MGM and Genting, which operate the two so-called racinos in the area, are hoping to upgrade their facilities in Yonkers and Queens to full-scale casinos.

The competition for the presumptive third license is a free-for-all. The matchmaking between real estate developers and casino operators eager to take part in a bid is something like speed dating — with casino operators freely consorting with several developers.

Among those who have considered participating are developers like SL Green, Related Companies, Vornado Realty Trust in Manhattan and the Citi Field owner, Steven Cohen, in Queens. Joseph J. Sitt, the chairman of Thor Equities, is also planning a bid for a site on Coney Island.

There will also most likely be bids from Long Island.

The field of casino operators eyeing the opportunity includes Bally’s Corporation, Las Vegas Sands and Hard Rock, which just opened a hotel in Midtown.

If the bureaucracies were a Russian nesting doll, the biggest, outermost doll would be the New York State Gaming Commission.

The commission will have a say on who gets the three new licenses and where the new casinos will be situated, but others will have a voice, too.

The first step is for the commission to fill a five-member Gaming Facility Location Board; its responsibilities include creating and managing the application process for casino developers and recommending the winners. State law requires that at least three members be in place by Oct. 6; once that occurs, the commission will have 90 days to issue requests for applications for the casino licenses.

The applications will then be reviewed by the location board, which will make a final recommendation to the Gaming Commission. The commission’s makeup would seem to give Governor Hochul some control: All seven members are appointed directly by the governor, one on the recommendation of the New York State Assembly, and another on the recommendation of the New York State Senate.

A glut of casinos unquestionably exists in the United States, as well as a wealth of other gambling options, and that has put a damper on economic projections for many new casinos.

But New York City is different.

It is affluent, it is dense and any casino here is likely to be successful — albeit at the possible expense of nearby gambling locales, like Atlantic City.

“ You have access to a huge local population that already has been fueling a lot of gaming revenue for a couple decades now in the broader geographic region, but it’s also a huge international destination as well,” said Colin Mansfield, an analyst at Fitch Ratings.

For further evidence, look no farther than Resorts World at Aqueduct, which despite having no table games like blackjack or roulette, claims to be both “the highest-grossing slots casino in the world” and “the largest single property taxpayer in New York State.”

In order to put a casino anywhere in New York City, a developer may have to persuade the New York City Council to rezone the land in question, according to the New York State Gaming Commission.

At present, land regulations in New York City do not allow casinos. But that may not be a blanket prohibition: The commission has yet to determine if the state-owned land at the Aqueduct, in Queens, or the land near Penn Station (which the state plans to redevelop using a process that typically overrides local land-use regulations) would require rezoning.

[NYguy]

https://gothamist.com/news/new-york-...states-big-bet

New York City casinos: What to know about the state’s big bet

BY JON CAMPBELL
MAY 1, 2022

Like it or not, full-scale casinos are on their way to New York City and the greater metro area.

Earlier this month, Gov. Kathy Hochul and state lawmakers fast-tracked the approval process for the state’s final three remaining casino licenses, which are destined for downstate after the first four were reserved for regions north.

Casino operators have had their eye on New York City for decades, and in recent months, more than a handful of major players – including Las Vegas Sands and Hard Rock International – have expressed interest.

But it’s still too soon to say exactly where the casinos will go, though New York City Mayor Eric Adams has made clear he’s hoping for multiple facilities.

“We would like to have two in New York City,” he said last month. “I think it would be a great boost for the economy, and we are evaluating what are the best locations."

But ultimately it's not the mayor's call – though he will have some say. And critics of casinos and the negative effects of gambling remain, particularly in Manhattan, where local resistance could help keep casinos out.

State lawmakers made two major changes to the state’s casino-siting process.

The first requires all casino proposals to follow local zoning rules and procedures. That’s a big deal in New York City in particular, because the law makes clear that the city's lengthy land-use review process will apply.

That adds another layer of review, requires a public hearing and brings the local community board, borough president, City Planning Commission and, crucially, the City Council into the process.

State law requires some show of community support for a particular casino proposal before it’s approved. Under the new version of the law, any casino proposal will trigger the creation of a five- or six-member committee (depending on the location) made up of people appointed by local elected officials. In the city, the mayor, borough president and three local lawmakers – the state senator, state Assembly member and City Councilmember where a casino is proposed – all will get an appointee.

A majority vote would be required to show community support early on in the approval process. Otherwise, the proposal won’t move on to the Gaming Facilities Location Board, a five-member panel appointed by the Gaming Commission that will ultimately award the casino licenses.

To some, the local boards are viewed as a “poison pill” designed to keep casinos out of Manhattan, where many local officials have already expressed opposition. But state Sen. Brad Hoylman – a Manhattan Democrat who says he’s an “ardent skeptic on casinos” – said he will participate with an open mind.

[NYguy]

Quotes from Steven Roth on Virnado’s potential casino bid…



https://www.fool.com/earnings/call-t...ings-call-tra/

Vornado Realty Trust (VNO) Q1 2022 Earnings Call Transcript


By Motley Fool Transcribing
May 3, 2022

Steve Sakwa -- Evercore ISI -- Analyst

Thanks. Good morning. Steve, I was wondering if you could just comment a little bit more about your appetite and desire to still be part of a casino project or licensing agreement. If New York City were able to get one.

I'm just curious if you're looking to be part of the operations or you're looking to more be of a landlord. And if it's on the landlord side, how big of an integrated resort do you ultimately think the winning bid needs to be? Does it need to be hotel rooms and convention space? Or do you think it can just be a stand-alone casino kind of in the heart of Manhattan?

Steven Roth -- Chairman and Chief Executive Officer

Well, some of the -- some of the answers to your questions are at the current time unknowable. This is going to be a political process and there are going to be government officials who are going to make these decisions. With respect to the idea of a casino, we are aggressively pursuing it as we should and as we must. And I've said in the last two letters I've written that we believe that the -- there are going to be three downstate licenses.

We believe that the best place for the third license, one goes to Yonkers, one goes to Aqueduct probably, although that might be contested as well. But we believe that the third license would be best served to go into Manhattan. When you think about it, Manhattan is the center of everything. It's the center of the hotel industry, the entertainment industry, the restaurant industry, the business industry the theater industry, etc.

And one of the anomalies is while it's the economic engine of New York by far, the voting population who is of interest and the political leadership, of course, is not necessarily in Manhattan. So that's an interesting thing. We are in the process of talking to multiple people as our -- and the casino industry operators are talking to multiple landowners. We are in the process of debating whether we would be just a land [Inaudible] and that -- well, just as an understatement, being a landlord or being part of the operation or being a hybrid, which is a landlord with a kicker or whatever.

So we're in the throes of thinking about and talking about and debating the financial arrangements. With respect to whether the winning bid, so to speak, would be a small isolated casino or an entire Las Vegas-style complex with hotel rooms, entertainment, food, etc., offerings, I don't know which is the right one, OK? We believe that we can pursue both of them.

We have multiple sites that we intend to bid with. And for example, if you just take the Penn District, what's in the middle of the Penn District, Madison Square Garden.

Madison Square Garden is the biggest and most important entertainment complex and certainly in the New York area and maybe far and wide. The interesting thing about Madison Square Garden is in addition to the teams, it has 220 dates a year of concerts. So it's the center of the music industry as well. And it sits on top of -- to our land is adjacent to Madison Square Garden and sits on top of the transportation network, which is interesting.

There's been some talk about Times Square, which is also interesting, and we have sites there. So this is early days, and we are exploring -- we're working very hard exploring all of the different options. And we expect to try to -- we will probably get a resolution as to what direction we are going to go in some time well before the end of the year. We -- I think I read one transcript somewhere that somebody thinks that this process is going to be over in the first quarter of next year.

I don't think it's going to be anywhere near over, that's going to take a lot longer than that. As it should. It's a deliberate process and it's important. So we believe that Manhattan is the right venue to get the third license.

We intend to compete aggressively for it. And one last thing. We think speed to market or speed of opening is going to be a very important determinant of the economics of the bidders. So if you have to build a new complex, and that could take three, five years or if you're retrofitting a building that could take one to one and a half years, there are billions of dollars difference in that calculation.

[NYguy]

https://www.google.com/amp/s/nypost....ey-island/amp/

NYC developers eyeing casinos for Hudson Yards, Times Square, Willets Point, Coney Island





By Carl Campanile, Bernadette Hogan, Josh Kosman and Steve Cuozzo
July 24, 2022

New York City developers and gaming operators are putting their chips on the table in a frenzied bid for the right to open local casinos, including in Times Square and Hudson Yards, The Post has learned.

Some of the other sites being eyed are Willets Point near the Mets Citi Field ballpark in Queens and Brooklyn’s Coney Island, according to sources familiar with the plans.

Real-estate giants Related Companies in Hudson Yards and Vornado and SL Green in Times Square are interested in forming partnerships with casino behemoths such as Hard Rock, Sands and Wynn for local venues, industry and government sources said.

Representatives with the developers and casinos have apprised Adams’ office, as well as Gov. Kathy Hochul and state officials, of their preliminary plans, sources said.

Officials from Related Companies have met with City Hall to discuss a proposal to build a casino over rail tracks on the far West Side.

“We’re exploring our options,” Related spokesman Jon Weinstein told The Post on Sunday.

Sources familiar with the discussions said Hudson Yards has ample space to build a casino, along with the transportation infrastructure needed to get people to and from a gaming facility. The No. 7 and Penn Station stations are nearby. The site also is close to the Javits convention center.

Mets owner Steve Cohen and his associates — who have good relations with Adams — have spoken to City Hall about potentially building a local casino, too, sources said.

Thor Equities has discussed erecting a casino in Coney Island, as well, an insider said.

Business mogul John Catsimatidis, who developed the Ocean Drive waterfront residences along the Coney Island oceanfront, also has expressed support for opening a casino there.

“A casino would be a wonderful thing for Coney Island and Brooklyn,” Catsimatidis said Sunday. “A Coney Island casino would bring a lot of vigor to Brooklyn.”

Hard Rock’s lobbyists also have met with City Hall Chief of Staff Frank Carone about wanting to build a casino, lobbying records show. Hard Rock executives have discussed a partnership with the Mets’ Cohen for a Willets’ Point casino.

A selling point: Willet’s Point is easily accessible using the No. 7 subway train, the Long Island Rail Road and the Grand Central Parkway and Long Island Expressway and has a large population just minutes away in Flushing, a potential gambling constituency, sources said.

Backers would have to win approval from two-thirds of a six-member community advisory board for the area where a casino is proposed. The reps are to include appointees from the borough president, local state senator and assembly member and City Council member, as well as the governor and mayor.

Unless the proposed casino is on state-owned property, it also would have to be approved according to the city’s lengthy land-use review procedure that needs the blessing of the City Council.

The situation gives community activists and local elected officials tremendous leverage in the selection process.

”I strongly oppose a Manhattan casino in concept,” said state Sen. Brad Hoylman, who represents the Hudson Yards and Times Square neighborhoods, to The Post on Sunday.

“I don’t know one constituent who wants a casino,” he said. “Outside forces want a casino. Insiders who live here don’t want a casino.”

The state is expected to fetch at least $500 million for each casino license — or least $1.5 billion.

The tax rates will ultimately be determined by the competitive bidding process for the licenses, but the law says they can’t be less than 25% of slot revenue and 10% of table game revenue.

The tax rates will likely be higher. The four upstate casinos all pay between 30% and 40%.

The gaming commission will appoint members to a casino siting board by October 4. The board will then have 90 days to issue a request for bids.

[NYguy]

Related wanted a casino/new MSG at Hudson Yards.


https://therealdeal.com/2022/07/25/d...h-to-move-msg/

Dolan rejected Stephen Ross pitch to move MSG
Related floated Hudson Yards as home for Madison Square Garden


Jul. 25, 2022

Madison Square Garden this spring nixed a proposal by the Related Companies to move the Midtown arena a few avenues west.

The Hudson Yards developer pitched a design for a new arena, this time built above a casino in the fast-developing Midtown West neighborhood, but MSG directors disliked the idea, Crain’s reported Monday.

The news of Related’s rejected overture adds intrigue to the drama playing out in the Penn Station area.

Gov. Kathy Hochul shut down any further talks between MSG and Hudson Yards this year in order to avoid additional complications to her Penn Station area development plan, according to Crain’s.

The governor’s megaproject, which would create 18 million square feet of commercial development and 1,800 residential units across eight sites around Penn Station, was approved by the Empire State Development board last week. The plan now goes to the Public Authorities Control Board for what is essentially a rubber stamp.

[NYguy]

https://archinect.com/news/article/1...en-t-buying-in

Some of NYC’s biggest high-rollers want a casino in Coney Island, but local residents aren’t buying in

Josh Niland By Josh Niland
Aug 4, '22

If real estate developers get their way, Coney Island may soon be losing its seasonal vibe. The New York Post is reporting that several of the city's leading corporate entities, including Miami Dolphins owner Stephen Ross' Related Companies, Vornado, and S.L. Green, have expressed interest in two of the state's three new available casino licenses as part of an expansion endorsed by Governor Kathy Hochul.

Looking to Atlantic City as a model, Thor Equities owner Joe Sitt is pitching a gaming destination in his native Coney Island as a potential commercial booster. Hudson Yards, Times Square, and Queens’ Willets Point neighborhood have also been floated. In total, the projects could bring in at least $1.5 billion in license revenue for the state. The year-round operation of the casinos could engender even greater profits dependent on an agreed-upon tax rate between the state and potential developers.

Other than money, the subway system seems to be the main determining factor in the matter. Both the Manhattan and Queens sites are serviced by the 7 train, but Coney Island lacks the access to regional mass transit options offered by the others. Some residents say the local D, F, N, and Q train station isn't equipped to handle all the elderly traffic, and even more are still weary from a failed 2009 rezoning plan they feel carried many of the same short-sighted economic promises.

This reluctance to building an entertainment venue could come into play as the bid process draws closer. According to the Post, state laws require developers to seek approval from a six-member community advisory board, which will be put together by the borough president, NYC Mayor Eric Adams, Hochul, and local politicians. RFQs could be issued within 90 days of the state gaming commission forming its special review board, which is expected by October 4th. New York State senator Brad Hoylman said interested parties shouldn't get their hopes up before then.

“I don’t know one constituent who wants a casino,” Hoylman noted. “Outside forces want a casino. Insiders who live here don’t."

[NYguy]

https://commercialobserver.com/2022/...n-casino-push/

The Push to Build a Casino in Manhattan Could Turn Out to be a House of Cards
'The level of support in Manhattan for a casino ranges from strongly opposed to nuclear opposition.'


BY AARON SHORT
AUGUST 9, 2022

….. The competition to land a gaming venue is only starting to heat up. In early October, the New York State Gaming Commission will appoint a three-member panel called a Gaming Facility Location Board, which will then have 90 days to issue a request for casino license applications.

The proposals are expected to be chosen next year, but there’s a catch. To maintain their hot hand, each project must secure the equivalent of a royal flush — or four out of six votes from a Community Advisory Council (CAC) made up of appointees of the governor, the mayor, the borough president and the district’s state Assembly, state Senate, and City Council representatives. That measure, which was added to the state budget, could guarantee Manhattan projects will be dealt a bad hand if local officials band together, stakeholders said.

“I am not a fan of casinos or gambling; I’ve voted against every gambling bill I’ve seen in Albany,” said state Sen. Liz Krueger, whose Manhattan district will include Times Square and Penn Station by January and who will appoint a CAC member. “It’s not obvious to me there’s a path. Many electeds from Manhattan and many constituents also see no place for a casino in Manhattan.”

Two existing slot parlor owners have a leg up on other bids, multiple sources said. The Genting Group, which owns Resorts World Casino and Aqueduct Racetrack in Ozone Park, Queens, and opened a Hyatt Regency hotel on its site last August, wants to upgrade its “racino” to include table games with live dealers. So does VICI Properties, which acquired Empire City Casino in Yonkers from MGM last year for $17.2 billion. (MGM Resorts International is still operating the casino.)

“Everybody knows the hardest part of the process is getting local communities to support the idea of getting a casino in their community, which is why Aqueduct and Yonkers are almost guaranteed to get the license because there’ll be no local objection,” said Jeffrey Gural, chairman of GFP Real Estate and owner of the Tioga Downs Casino in upstate New York. “They have all the stuff a casino will offer and they can convert over very quickly to a casino. They don’t have to build anything.”

The third license remains up for grabs.

The likely bidders include some of the most prominent names in real estate, and Midtown Manhattan and its surrounding area hold particular promise for several commercial developers.

Vornado Realty Trust Chairman Steven Roth has long pitched turning one of its holdings near Herald Square into an integrated resort.

Several of Vornado’s neighbors have looked into converting nearby properties they control. Morris Bailey, who owns Atlantic City’s first casino hotel, is looking into building a casino on the former McAlpin Hotel site at Broadway and 34th Street. And L&L Holding Company is contemplating a gaming facility within its 46-story Times Square tower on 47th Street that will also include the 108-year-old Palace Theatre, The New York Times reported.

Other developers are already hooking up with casino operators and putting their cards on the table. SL Green Realty and Hard Rock Cafe representatives held meetings with elected officials this year to push a plan to put a casino in 1515 Broadway, although the hospitality company now appears to be more inclined to back other projects. Hard Rock Chairman Jim Allen said the company identified three potential sites for a casino, although it would not include the Hard Rock hotel on West 48th Street that opened in May.

Then there’s Related Companies, whose representatives met with City Hall officials to chew over the company’s proposal to build a casino over rail yards on the edge of Hudson Yards on Manhattan’s far West Side. Related Chairman Stephen Ross offered to MSG Entertainment’s James Dolan to move Madison Square Garden to form a new entertainment sports complex, although Dolan rebuffed him. A Related spokesman confirmed the company was interested in a casino license and is exploring options for a bid.

Meanwhile other developers are stepping up to plug their sites in the outer boroughs.

Both Thor Equities’s Joseph Sitt and Red Apple Group CEO John Catsimatidis have floated erecting casinos along the Coney Island waterfront. Casino operators have discussed adding a gaming facility to the Belmont Park parking lot in Nassau County. And public officials have not ruled out dropping a casino in Staten Island, perhaps near the St. George Ferry Terminal.


Finally, there’s Mets owner Steve Cohen. The hedge fund manager has been touting Citi Field’s parking lot as a potential casino site to city officials and has already met with representatives from Hard Rock and the Las Vegas Sands to find a casino partner. But Cohen has also emphasized broader plans to build hiking trails near Flushing Creek and redevelop the area around Willets Point, an industrial area filled with auto body repair shops that has long been on mayoral to-do lists.

Developers may dream of blackjack tables and multimillion-dollar poker tournaments in Times Square, but the odds that a casino would wind up anywhere in Manhattan are slim to none, according to several stakeholders.

“ The level of support in Manhattan for a casino ranges from strongly opposed to nuclear opposition,” said one operative familiar with the licensing process. “It’s a default Manhattan carveout.”

Borough President Mark Levine, City Councilman Erik Bottcher and state Sen. Brad Hoylman are all against setting a casino in Midtown, as are Congress members Jerrold Nadler and Carolyn Maloney. So are the area’s top entertainment and civic institutions, including the Broadway League and the Times Square Alliance, never mind several business owners, officials said.

“I haven’t heard from any constituents who want a casino,” Hoylman said. “We know that poor and vulnerable New Yorkers are often targeted by casinos. They add traffic, noise and congestion, and they affect the quality of life.”

Traffic and noise in Manhattan. Who would guess?

[Busy Bee]

What?

[Gantz]

Originally Posted by NYguy

https://archinect.com/news/article/1...en-t-buying-in

Some of NYC’s biggest high-rollers want a casino in Coney Island, but local residents aren’t buying in

Josh Niland By Josh Niland
Aug 4, '22
“I don’t know one constituent who wants a casino,” Hoylman noted. “Outside forces want a casino. Insiders who live here don’t."

As someone who lives nearby, I wouldn't mind a casino at Coney Island. This is probably the right area to put it in anyway. There is also plenty of space and development parcels to build fairly big if needed. There are also plenty of local businesses that can use a boost, as right now they are mostly relying on seasonal traffic. Unlike other proposed areas, the Coney Island terminal is a huge station, and will have no problem accommodating any extra people traffic. If needed, they can also run the G express all the way to Coney Island if they need to, like they do right now during peak summer months.

[NYguy]

https://www.nytimes.com/2022/09/15/n...attan.amp.html

Related Companies and Wynn to Bid for New Casino in Midtown Manhattan
The companies want to put the casino on the western half of Hudson Yards, which remains undeveloped.


By Dana Rubinstein, Nicole Hong and Matthew Haag
Sept. 15, 2022

The bid by Related Companies, the developer of Hudson Yards, and Wynn Resorts represents the first publicly announced bid for one of three new casino licenses open to city developers.

The casino would be situated next to the Javits Center on the still-undeveloped western portion of the Hudson Yards, the second half of the largest mixed-use private real estate development in American history.

The only casino-like option currently in the five boroughs is the Resorts World facility at the Aqueduct Racetrack in Queens, which has video slot machines but no table games. Last year, Resorts World had the most gambling revenue of any casino property outside Nevada.

It will likely be several months before the casino sites are announced. The state’s gambling commission has until October to create a board that will manage the application process, which is supposed to begin within 90 days of its formation.

Steven Cohen, the owner of the New York Mets, has also been in talks with Hard Rock to develop a casino near Citi Field, the team’s stadium, according to someone familiar with the discussions.

In order for the Related-Wynn proposal to proceed, it would have to win approval from a yet-to-be-formed, six-person community advisory committee. Mayor Eric Adams will have a representative on the committee, as will the governor, the local City Council member, the borough president, the local Assembly member and the local state senator.

….. While Manhattan has long been considered one of the last, best untapped gambling markets in the country, any casino bidder will likely have to overcome significant resistance.

“Related and Wynn have a steep hill to climb to convince local residents that a casino in Hudson Yards is in their best interests,” said Brad Hoylman, the state senator whose district includes Hudson Yards.

Other casino and real estate companies are eyeing sites throughout the city. Thor Equities, a real estate firm, has expressed interest in building a casino on Coney Island in Brooklyn. Earlier this year, Marc Holliday, the chief executive of SL Green Realty, a major office developer, said in an earnings call that Times Square would be the best location for a casino.

https://www.bloomberg.com/news/artic...s-hudson-yards

Related Pursues Giant Casino Complex at Manhattan's Hudson Yards
Developer teams up with Wynn Resorts for a proposal to build an entertainment and gaming resort in the Western Yards part of New York.


ByNatalie Wong
September 15, 2022

The firm, founded by billionaire Stephen Ross, is partnering with Wynn Resorts Ltd. to pursue a casino license on the Western Yards, according to a statement Thursday. The plan is to build an entertainment and gaming resort along New York’s Hudson River.

While Related has previously expressed interest in the possibility of being involved in a casino development, the partnership with Wynn marks an official step in its pursuit of a license. The proposal would situate a casino in the Western Yards, located next to the Javits Center, the massive convention center that recently went through a $1.5 billion expansion.

“The Western Yards provides the ideal site for a resort that will reinvigorate our tourism economy and provide billions in tax revenues for the city and state,” Jeff Blau, Related’s chief executive officer, said in the statement. He described Related's partnering with Wynn as a “perfect pair.”

The Western Yard is the second phase of Related and Oxford Properties’ Hudson Yards project, occupying the area from 11th to 12th avenues between West 30th and West 33rd streets. Related had initially planned to build residential buildings, offices and a school at the site.

“Siting a casino in Manhattan will help cement our place as the world's pre-eminent tourism destination,” said Jessica Walker, Manhattan Chamber of Commerce’s CEO. “Manhattan’s transportation infrastructure, cultural attractions and convention facilities at Javits present an unparalleled opportunity to maximize gaming revenue for the city and state.”

[UrbanImpact]

Originally Posted by NYguy

https://www.nytimes.com/2022/09/15/n...attan.amp.html

Related Companies and Wynn to Bid for New Casino in Midtown Manhattan
The companies want to put the casino on the western half of Hudson Yards, which remains undeveloped.


By Dana Rubinstein, Nicole Hong and Matthew Haag
Sept. 15, 2022












https://www.bloomberg.com/news/artic...s-hudson-yards

Related Pursues Giant Casino Complex at Manhattan's Hudson Yards
Developer teams up with Wynn Resorts for a proposal to build an entertainment and gaming resort in the Western Yards part of New York.


ByNatalie Wong
September 15, 2022

I agree that if there must be a casino, then, Times Square would be a better option as long as no theaters are removed.

[Sky88]

Hudson Yards would be the best place because in addition to the casino there would also be room for a new MSG with an even larger arena than the one found in the current MSG.

[NYguy]

Originally Posted by UrbanImpact

I agree that if there must be a casino, then, Times Square would be a better option as long as no theaters are removed.

Then it’s a no-go. There is no room in Times Square for a large casino development. A smaller scale casino, yes. But Tines Square crowd is not somethin a smaller, upscale cadino would cater to. And Times Square is lacking in neither development nor people. A Manhattan casino would belong on the west side, where there is plenty of room. For both the development, and the crowds it would attract.

The other option I like best would be Coney Island. While the redevelopment of housing and amusements there has been progressing, the key to creating a year round destination there would be the indoor entertainment district, which hasn’t gotten underway. A casino would change that. Plus the zoning is already there for any accessory hotels.

[NYguy]

• Video Link

[citybooster]

Coney Island yes, it would be perfect. Or Queens, with deep pocketed Mets ownership trying to build one near their stadium. But God no to this Hudson Yards II revision nightmare. Seriously, the vision of the other side of the yard as primarily residential, with all the nice new towers that would have shown more personality compared to the more conservative final vision of the first half of the development.. that would have balanced the Yards so well. Putting a huge casino there... just not really feeling it at all. Hope smarter heads prevail and this loses out, and a better Queens or Coney Island option prevails.

[NYguy]

^ Coney Island is at the top of my list, because the approvals for something like this are already there. And it would be open all the time, not just in the warmer months.

I’m not against the railyard proposal, especially if that would finally get that started. And any new casino in New York needs to be new construction, not retrofitted into an existing building. But the opposition to a casino is fiercest in Manhattan.

The real problem is with the limitations on licenses. When you consider 2 of the 3 would likely go to existing operations in Queens and Yonkers, that’s basically one new casino. We should be able to get one in Coney, and another on the west side. No reason why a city like New York should be so limited.



https://www.ny1.com/nyc/manhattan/po...itical-hurdles

Proposed casino at Hudson Yards would face political hurdles


By Bobby Cuza Manhattan
Sep. 16, 2022

The proposal to build a casino at the Hudson Yards development on Manhattan’s west side has its advantages.

There’s plenty of room to build it on the currently undeveloped western portion of the site. The developer, chaired by billionaire Stephen Ross, has significant clout.

The hard part could be to win over local elected officials.

But bidders must win approval from four of the six members of a community advisory committee. That committee will comprise representatives of the mayor, governor and local elected officials.

With Hudson Yards, that would include Assemblyman Richard Gottfried, who said in an interview Friday, “I don’t think a casino belongs in Manhattan.”

Gottfried is retiring at the end of the year, so any decision-making would likely fall to his successor. But others also have concerns.

In particular, they note Related’s prior commitments on the site.

“We were promised years ago when that project first launched a school, affordable housing, open space,” Hoylman said. “So we’re not willing to relinquish any of that.”

A Related spokesman said those elements would still be included in the development, even if the casino goes forward.

Manhattan Borough President Mark Levine, who would also have a say on the advisory committee, is keeping an open mind.

“I think being located next to Javits is a potential benefit, in that this could support trade shows at Javits,” he said.

Mayor Eric Adams did not weigh in on the Hudson Yards proposal this week, but a spokesman said, “The gaming commission will decide on where these casinos will be located, but we are hoping two of the three downstate casinos will be placed in New York City.”

The Hudson Yards casino would also have to go through the city’s arduous land-use process — another layer of approvals that would test the political influence of Ross, a major donor to Gov. Kathy Hochul and others.

“This needs to be a process that’s not influenced by political considerations,” Levine said. “This needs to be a process in which we weigh a proposal on the merits.”

[tdawg]

I actually think that Willetts Point is an ideal location for one if we must have them. Tear down the rest of the Iron Triangle and replace it with this.

[citybooster]

Interesting, so Related only intends to build the casino then on part of the site, with housing, schools and open space still a significant part of the development as well. We'll just have to wait and see what their in depth proposal is. Still much prefer a casino at Coney Island or Willets Point but hopefully the process will be a well thought one and may the best plan win!

[Busy Bee]

Originally Posted by tdawg

I actually think that Willetts Point is an ideal location for one if we must have them. Tear down the rest of the Iron Triangle and replace it with this.

Disagree.

Willetts Pt is better positioned to be a sports and recreation destination with baseball, tennis and soon to be "soccer" all within a short stroll. It doesn't seem to me a natural space at all to stick a mood lighted refrigerated box filled with gambling addicted wretches. My hopes for the future of Willetts/Flushing is that it further plays up this theme with water recreation and even an indoor ski slope like the likely doomed American Dream in Jersey. It could also connect many of these elements with long promenades with retail and maybe other quasi-Coney Island attractions. My .02.