Hudson Yards developer Related Companies takes on a hot horse from Vegas in a turbulent race to open a casino resort in Manhattan.
The real estate giant headed by Stephen M. Ross has partnered with Wynn Resorts to “pursue” a casino license for the Western Rail Yard — the proposed second half of the 28-acre Hudson Yards complex, Related said Thursday.
The construction of the western part of the Yards, which is now an exposed and sunken rail yard, was a priority not only for Related but also for Governor Kathy Hochul, as well as her predecessor Andrew Cuomo.
Wynn Resorts owns two casino hotels in Las Vegas, one in Everett, Mass. and three in Macau, China. Founded by Steve Wynn, the company is now led by CEO Craig Billings.
The Wynn deal confirms a long-standing rumor that Related was pursuing a gaming industry partner to dump its chips in the West Side courtyard. The $25 billion development plan for residential and office towers and a new park between Eleventh Avenue and the Hudson River in the West 1930s has been stalled by the pandemic.
But green light for the construction of a spectacular casino/hotel/entertainment complex could kick-start the project, which will require building a deck over the tracks, as was done for the eastern section. The casino would be near the recently expanded Jacob Javits Convention Center.
The Wynn partnership is an important first step in Related’s strategy that could give it an edge over its peers.
The state approved three gaming licenses earlier this year, with Mayor Eric Adams wanting two for New York City. But the state Gambling Commission has not yet issued a formal call for proposals.
However, the commission is expected to produce a gaming facility location board by October 6, a big step towards the publication of a tender.
Related is the first license applicant to enter into a deal with a major casino operator. Its competitors have pursued Hard Rock and Sands, but no deals have been made.
As The Post first reported, SL Green, Vornado Realty Trust and Thor Equities, among other developers, are interested in building a casino at various locations in the Big Apple from Times Square to Coney Island.
Hochul will likely have the final say in licensing choices.
Related boss Ross has donated $69,700 — the largest sum — to her campaign, Board of Elections records show. But he wasn’t alone. Other big donors included Vornado chairman Steven Roth, also a casino-hunt, and Larry Silverstein.
Neither SL Green nor Vornado would comment on Related’s announcement.
https://nypost.com/2022/09/15/related-companies-teams-with-wynn-resorts-on-hudson-yards-casino-bid/ Affiliates offer teams with Wynn Resorts at Hudson Yards Casino