Wynn Resorts has unveiled plans for a $12bn casino complex it wants to build in New York if it wins one of the casino licenses. [Image: Shutterstock.com]

Ambitious proposal

Wynn Resorts has unveiled plans for a $12bn casino complex in New York City.

Created by real estate firm Related Companies, the proposed development would be built on Hudson Yards on the West Side of Manhattan. Featuring an 80-story tower, the complex would house a gaming facility and a 1,700-room hotel overlooking the Hudson River.

will attract luxury and aspirational travelers to our destination resort in Hudson Yards”

Craig Billings, CEO of Wynn Resorts said: “As the leading designer, developer, and operator of premium gaming resorts in the world, Wynn New York City will attract luxury and aspirational travelers to our destination resort in Hudson Yards.”

The 3 million-square-foot, Wynn-branded “resort” tower will also have office buildings, apartment towers, and a 5.6-acre park surrounding it.

On top of that, there will be a 750-seat public school, a community facility, and a daycare center. According to planners, the resort will provide 35,000 construction jobs and 5,000 permanent positions.

In a good position

The partnership between Wynn Resorts and Related Companies goes back to 2022, when the two revealed they were bidding for a casino license in Manhattan.

Competition is fierce for the three coveted downstate New York licenses and those licenses come at a price: winning bidders will need to pay a license fee of $500m.

Speaking last year, Jeff Blau, CEO of Related Companies, said he felt they were “in a good position with the best proposal,” adding “we’re going to win.”

Who else?

With only a few licenses available, who else is hoping to get one?

proposed an $8b gaming center, hotel, and music venue near Citi Field

In Queens, New York Mets owner Steve Cohen has proposed an $8b gaming center, hotel, and music venue near Citi Field that he has dubbed “Metropolitan Park.” Elsewhere, Resorts World New York City announced a $5bn expansion to gain a license to offer table games in a new 7,000-seat concert hall.

There are also proposals to build a casino in Times Square, Coney Island, and Ferry Point after the casino operator Bally’s took over the golf course from the Trump Organization.

Yet, while many are fighting over obtaining a license, their issuance may not happen until 2025.