It was reported in July that New York Mets owner Stephen Cohen and Sands were discussing a casino project near Citi Field, the team’s ballpark. Hopefully, we have a bid that gets attention.” “It’s tough because I think there is one available license. “We've been focused on the market for many years and we’re very bullish on New York,” Goldstein said on the company’s third-quarter earnings call last week.
Last week, Las Vegas Sands CEO Rob Goldstein said the company has a New York property in mind and is putting a bid together. David Paterson in an unsuccessful effort to push up the development timeline. In 2019, the company brought in former New York Gov. Late Las Vegas Sands founder Sheldon Adelson had long desired to build a New York City casino near the Javits Center. The location is next to the Javits Center, one of the busiest convention centers in the United States that recently completed a $1.5 billion expansion.
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Wynn Resorts announced a partnership with New York-based Related Companies in September to seek a gaming license for Western Yards at Hudson Yards. The curved tower of Wynn Las Vegas is viewed on June 28, 2022. Gaming industry advisor Brendan Bussmann, managing partner of Las Vegas B2 Global, said with two licenses all but spoken for, the gaming industry’s largest casino operators “will be circling in and around Manhattan.”
Resorts World New York City in Queens is attached to the Aqueduct Racetrack and MGM’s Empire Casino is part of Yonkers Raceway, roughly 15 miles north of Manhattan. The companies already operate New York City-area casino facilities at two horse racing tracks that house slot machine-like video lottery terminals. Most observers believe two of the licenses are destined for Resorts World and MGM Resorts International. While the bidding for each license will start at $500 million, analysts said the developments will top more than $1 billion in construction and development costs. Lawmakers touted union jobs as well as increased tourism and tax revenue and noted the RFP process would start in early 2023. In the New York state budget approved earlier this year, a section was set aside to provide for three downstate gaming licenses, which voters first approved in 2013. I think we can rally around a casino and make that (an) economic engine.” He added that after the pandemic, “Times Square needs help and needs to reboot itself. “We are exclusive with Caesars on this casino site, and we’re going to be putting both of our mutual best efforts behind making it happen,” Holliday said. Caesars touted endorsements from Actor’s Equity labor union, the CEO of the restaurant group that owns Carmine’s, the head of New York Laborers’ Local 79, the CEO of Wyndham Hotels and a former New York City police commissioner.ĭuring the real estate investment trust’s third-quarter earnings conference call, SL Green CEO Mark Holliday said there wasn’t much to be revealed until New York releases the request for proposal (RFP) for the casino and developers can go over the terms. Other than stating that the partnership would include the development of a Broadway Theater location to house a production of The Lion King, not much was revealed about the project. “If one of those developers wants to talk to a manager that brings 65 million (customer loyalty program) members and powerful brands, we'd be very interested in having that discussion,” Reeg said at the time. He questioned the state’s “difficult” regulatory structure and the “extremely expensive” costs to obtain a license and develop a project. “How do I answer this politely?” Reeg said on the casino operator’s fourth quarter conference call in February. on a venture to develop Caesars Palace Times Square.Įight months ago, however, Caesars CEO Tom Reeg said it was “extraordinarily unlikely” the company would enter the New York casino market. Last week, the company announced a partnership with SL Green Realty Corp. Howard StutzĬaesars Entertainment’s entrance into an expected heated process for the rights to operate a casino resort in New York City came as somewhat of a surprise. If a colleague or associate emailed this newsletter to you, please click here to sign up and receive your own copy of Indy Gaming in your inbox. Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada.
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