Larry Silverstein Bolsters Bid for Manhattan Casino with Strategic Rush Street Partnership

By: Russ Spencer

Larry Silverstein, the real estate titan best known for rebuilding the World Trade Center complex after 9/11, has reinforced his campaign to open a casino on Manhattan’s Far West Side with a powerful new ally. As The New York Post reported, Silverstein Properties has entered a partnership with Rush Street Gaming — the operator of the Rivers Casino in Schenectady — in a strategic move aimed at cementing its position in New York’s hotly contested casino license race.

The centerpiece of Silverstein’s proposal is the Avenir, a 46-story mixed-use skyscraper and entertainment complex slated for a vacant 92,000-square-foot site at 11th Avenue and 41st Street. Situated just north of the sprawling Jacob Javits Convention Center, the property is entirely owned by Silverstein Properties and, according to the company, is “shovel-ready” pending regulatory approval.

Silverstein’s announcement marks a significant expansion of the Avenir’s development team. Joining Rush Street Gaming is Greenwood Gaming and Entertainment, another heavyweight in the regional gaming space, best known for its casino operations in Pennsylvania. Together, these firms represent a formidable triad of experience and financial firepower in the East Coast gaming industry.

“We are excited to announce our partnership with Rush Street Gaming, as well as Greenwood Gaming and Entertainment, to create a home-grown entertainment complex on Manhattan’s Far West Side,” said Silverstein in a statement published by The New York Post. “Each of our organizations is family-owned, multi-generational, and deeply committed to the neighborhoods in which we work and live.”

Silverstein emphasized that his company’s 40-year investment in Manhattan’s West Side gives it a unique and intimate understanding of the community’s needs — and the Avenir is envisioned as more than just a casino. The project would include residential units, retail, dining, and entertainment space, as well as affordable housing. This multi-faceted approach is designed to appeal to both economic development advocates and wary community leaders.

The economic impact of the Avenir project, as described to The New York Post, is enormous. If approved, the development is expected to create 4,000 union construction jobs and over 5,000 permanent union jobs. These figures position the Avenir as one of the most robust job creators among the current slate of casino license contenders.

Tim Drehkoff, CEO of Rush Street Gaming, echoed Silverstein’s sentiments in praising the proposal. “We greatly admire what Silverstein Properties has accomplished in terms of developing important projects in New York City,” Drehkoff said. “Our past projects in Pittsburgh, Philadelphia and Schenectady were each the first destination casinos in their respective cities, and we look forward to working with Silverstein, Greenwood, and the Far West Side community on the Avenir.”

The project is being pitched not just as an entertainment hub, but as a much-needed anchor for growth in Manhattan’s underdeveloped western corridor. Proponents point to the nearby Javits Center and Hudson Yards development as evidence that the area is ripe for transformation.

But the Avenir faces stiff competition. As The New York Post report noted, up to three casino licenses will be awarded for the downstate New York region — a region that includes New York City, Long Island, and Westchester. As the June 27 deadline for license applications looms, the list of rival bids is growing longer and more extravagant.

Just to the south of Silverstein’s proposed site, the Related Companies, in partnership with Wynn Resorts, is proposing a staggering $12 billion casino-resort complex in Hudson Yards. Meanwhile, Caesars Entertainment and SL Green have proposed a Times Square casino. Other proposals are targeting the East River waterfront, Coney Island in Brooklyn, the Bronx, and a site near Citi Field in Queens.

Silverstein’s team, however, believes its proposal stands apart in terms of experience, readiness, and location. Unlike some competitors who are still in the early stages of land acquisition or permitting, Silverstein already owns the proposed development site outright, giving Avenir a crucial logistical advantage.

The bid is also deeply personal for Silverstein, who at 93 remains a central figure in New York’s development world. As The New York Post has reported, Silverstein has spent decades transforming the city’s skyline, from rebuilding the World Trade Center to investing heavily in the West Side’s long-term redevelopment. Avenir, if realized, would be one of his final — and perhaps most ambitious — legacies.

Beyond job creation and urban revitalization, Silverstein argues that the project will generate substantial tax revenue for the city and state. In an era when municipalities are still grappling with post-pandemic budget holes, the allure of a high-yield development is not lost on policymakers.

Before any licenses are awarded, developers must first secure local approval, which means community boards and elected officials will play a significant role in shaping — and potentially delaying — proposals. The New York Post reported that Silverstein and his partners are working to build support among local labor unions, neighborhood groups, and elected officials by highlighting the development’s emphasis on union labor, affordable housing, and community access.

Regulatory approval will also be contingent on the evaluation of each proposal’s financial strength, community benefit plan, and long-term sustainability. As The New York Post continues to report, the New York State Gaming Commission, alongside a local Community Advisory Committee, will oversee the selection process.

As the June deadline nears, the Avenir proposal has emerged as a serious contender for one of New York’s limited casino licenses. With a powerhouse team of seasoned developers and gaming professionals, a shovel-ready site, and a comprehensive development vision, the project checks many of the boxes that regulators are expected to weigh heavily.

Whether the Silverstein-led team ultimately prevails will depend on a variety of factors — political will, economic feasibility, and public perception among them. But for now, as The New York Post aptly puts it, Silverstein’s Avenir has firmly planted its flag in what promises to be one of the most consequential bidding wars in New York’s development history.