Wynn New York City Renderings Released, $12B Project Reimagines West Side

Posted on: March 15, 2024, 10:49h. 

Last updated on: March 19, 2024, 04:08h.

Devin O'Connor @CasinoorgDevinO Read More

Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.

Renderings for Wynn New York City, an approximately $5.7 billion part of a proposed $12 billion mixed-used development expansion of Hudson Yards on Manhattan’s West Side, have been released.

Las Vegas-based Wynn Resorts has teamed up with Related Companies, billionaire Stephen Ross’ privately held global real estate development firm, in pursuit of its New York City casino ambitions.

Wynn and Related are proposing expanding Hudson Yards?on the West Side between Chelsea and Hell’s Kitchen. The partnership this week unveiled renderings of the massive casino complex that would span 13 acres between West 30th and 33rd streets between 11th and 12th avenues.

A 5.6-acre park would provide access to the Javits Center. Hudson Yards’ High Line would provide direct access to the casino resort.

The overall $12 billion expansion of Hudson Yards, called Hudson Yards West, would create 35K construction jobs and 5,000 permanent positions in the casino resort. Related developed Hudson Yards and its attractions in collaboration with Oxford Properties.

The casino component would cost roughly $5.7 billion.

“Although the total development cost for the Western Hudson Rail Yards complex may be as high as $12 billion, as recently reported, the development cost for the Wynn New York City gaming resort is approximately $5.7 billion, excluding licensing fees and financing costs,” Michael Eaver, chief communication and brand officer at Wynn Resorts, told?Casino.org.?

Bidding Begins

The New York Gaming Facility Location Board is expected to issue the three downstate casino licenses late this year or in early 2025. The panel’s job won’t be easy, as almost 10 bids are being finalized.

To separate from the crowded field, some of the bids have included design components that have little to do with gambling and everything to do with providing a public benefit in exchange for the coveted casino concession. Casino pitches have been complemented by affordable housing, public parks, community gathering spaces, new infrastructure, and art installations.

The nongaming offerings are an effort to sweeten the project’s appeal for the local officials appointed to each bid’s Community Advisory Committee. That’s who decides whether a presentation reaches the Gaming Facility Location Board for consideration. Wynn and Related leadership think its scheme is the best bet for Manhattan.

Hudson Yards has already proven to be an unparalleled catalyst for the New York economy, first through tens of thousands of construction jobs and now as home to the world’s leading companies, retail, and housing,” said Jeff Blau, CEO of Related Companies. “Moving forward with the second phase of development presents an incredible opportunity to double the impact and provide generational benefits to the State, City, and especially our West Side neighbors.”

Wynn Resorts CEO Craig Billings said Wynn guests spend more than patrons of other casino brands. That will help businesses surrounding Wynn New York City.? ?

“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. Wynn guests consistently spend more when they travel. That results in greater tax revenues for the city and state and more spending in the local community,” Billings said.

Resort Specifics

Wynn and Related officials say they will soon divulge additional details on the Hudson Yards West undertaking, including the precise number of hotel rooms and residencies, the scope of the casino, and traffic mitigation concepts.

Each downstate gaming license comes with a one-time $500 million fee.