Wynn, Related Cos. Release Details on NYC Casino Project`

August 28, 2024

Details about Wynn Resorts and Related Cos.'s proposed $12 billion development of Hudson Yards West in Manhattan, which includes a casino hotel, were released. The project's "centerpiece" will be a 5.6-acre public park, and if approved, it could generate thousands of well-paying union jobs.

The plan to build an integrated resort in the Western Rail Yards region includes 1,500 additional housing units, including 324 affordable apartments, and a new K–8 public school, according to the property developer and the gaming giant. Opponents of the project assert that Related made a commitment to provide 3,454–5,700 dwelling units when it signed a deal with New York City in 2009 to develop Western Rail Yards.

A recently established community group called the High Line is opposed to the proposed casino hotel plan, which includes a tower bearing the Wynn name. The group wants to preserve the famed views and historic neighborhood of New York City, but politicians who think their constituents would not support a gaming venue in that area of the city are not in favor of the proposal.

Wynn and Related Standout Features

Wynn and Related are highlighting the project's benefits, both financial and non-financial. This covers the proposal for the park mentioned above, to be called Hudson Green.

The park will have "a dog run, over 300 trees, 500 shrubs, flower beds, and various native plantings throughout the active landscape," according to a statement released by the two companies. The firms also stated that Wynn Design and Develop, the group responsible for the opulent interiors of the gaming company's casino hotels, would design the project. The famous Bryant Park in the city was contrasted with the corporations' proposed park.

"Wynn New York City will anchor the development, completing a decades-long revitalization of Manhattan’s West Side,” according to the press release. “This new vision for Hudson Yards West adheres to the approved uses in the 2009 zoning, but has also evolved to reflect the city’s current landscape and economic infrastructure needs. Wynn New York City is the economic engine supporting the development and will create careers for thousands of New Yorkers while offering significant benefits to all sectors of the community.”

The opening of the bidding round for the three downstate casino permits that will be given out has not moved forward, according to New York officials. That process is anticipated to take well until, if not longer than, 2025.

Wynn and Associates Mention Economic Gain

Promoting the economic benefits of a new casino project, such as the creation of jobs, is one method to win support from legislators. That is just what Related and Wynn are doing, and given the financial difficulties facing New York, their initiatives may have a significant impact there.

The firms claimed that 35K construction jobs would be created by the building of Wynn New York City. The two companies said that 5,000 more union positions would be added after the arena opened. In a state where income tax revenue is mostly dependent, this could lead to higher income tax collections.

“It’s easy for leaders to talk about wanting to create jobs and invest in the economy and infrastructure, but our proposal to develop Hudson Yards West would actually do it, which is why it continues to garner important support from unions, trade organizations, and small businesses,” said Related President Bruce Beal in the statement.