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Wynn Resorts Abandons $12B Hudson Yards Casino Plan Amid Community Pushback — Jay-Z, Cohen, and Other Power Players Still in the Game
By: Russ Spencer
In a dramatic twist to the high-stakes casino race unfolding across New York City, Wynn Resorts and its development partner Related Companies announced Monday they have formally abandoned their controversial $12 billion casino proposal at Hudson Yards, citing overwhelming and persistent community opposition, according to a report that appeared in The New York Post on Monday. The move marks a significant retreat from what had been one of the most ambitious bids for one of the three lucrative downstate casino licenses New York State is expected to issue by year’s end.
As The New York Post report noted, the announcement came just weeks ahead of the state’s June 27 deadline for casino license submissions and amid intensifying lobbying battles in Albany.
“After careful consideration, we have decided not to lodge an application for a gaming license in New York City,” Wynn Resorts said in a statement obtained by The New York Post.
“The recent rezoning process has made it clear to us that there are uses for our capital more accretive to our shareholders… than investing in an area in which we, or any casino operator, will face years of persistent opposition,” Wynn explained, as quoted by The New York Post.
The firm did, however, thank its partners at Related Companies and reiterated its belief in the long-term value of the broader Hudson Yards West development. Still, the casino component — the crown jewel of the plan — is now off the table, marking yet another failed attempt to transform Manhattan’s West Side with a mega-project, following earlier defeats involving proposed sports complexes.
Adding intrigue to the unfolding saga, music mogul and entertainment entrepreneur Jay-Z was in Albany the very same day Wynn’s withdrawal was announced, lobbying state leaders in favor of a rival bid in the heart of Times Square. Jay-Z’s Roc Nation is partnered with SL Green and Caesars Entertainment in a proposal to build a casino at 1515 Broadway — home to the Minskoff Theatre and the long-running Broadway production of The Lion King.
The New York Post reported that Jay-Z met separately with Senate Majority Leader Andrea Stewart-Cousins and Assembly Speaker Carl Heastie, making a personal pitch for the Times Square bid. But despite the star power, the proposal faces stiff opposition from the Broadway League and the “No Times Square Casino” coalition, which includes theater producers, local civic leaders, and residents concerned about safety, traffic, and the cultural character of the Great White Way.
John Sabini, former chairman of the New York State Racing and Wagering Board, cast doubt on the viability of any Manhattan casino bid, telling The New York Post, “I don’t think there is going to be a casino in Manhattan,” citing the scale and intensity of grassroots opposition.
Wynn’s departure from the scene has reshuffled the deck and, as The New York Post report noted, potentially given a boost to other powerful bidders. At the forefront is billionaire Mets owner Steve Cohen, who — in partnership with Hard Rock — is pushing for an $8 billion “Metropolitan Park” casino and entertainment complex adjacent to Citi Field in Queens.
The Post highlighted that Cohen has spent millions lobbying lawmakers in Albany and courting public opinion in Queens, though the project still hinges on state legislative approval to repurpose publicly held parkland around the stadium for commercial use. While the Assembly has passed the required bill, the state Senate has yet to act, and local state Sen. Jessica Ramos remains a vocal opponent.
“Cohen has been all over the playing field,” one casino industry insider told The New York Post, suggesting the Queens mogul may be poised to capitalize on the turbulence rocking Manhattan-based bids.
Other bids that remain active, according to The New York Post, include Larry Silverstein’s “Avenir” Bid on Manhattan’s Far West Side. Partnering with Rush Street Gaming, Silverstein Properties plans a 46-story casino tower on a vacant site at 11th Avenue and 41st Street.
It also includes the Freedom Plaza by the Soloviev Group and Mohegan. This East Side bid proposes a casino on First Avenue between East 38th and 41st Streets, adjacent to the United Nations corridor.
The Bally’s Bronx proposal is located beside the former Trump Links golf course (now Bally Links) at Ferry Point, this project also requires legislative approval to convert parkland. Bronx legislators have expressed support, The New York Post report confirmed.
“Coney Casino” on the Brooklyn Boardwalk is a $3 billion proposal led by Thor Equities, Legends Entertainment, and the Chickasaw Nation near the famed Cyclone and Wonder Wheel amusement park.
The Genting’s Aqueduct expansion by Resorts World NYC is currently operating at the Aqueduct racetrack and is seeking a $5 billion expansion to include live dealer table games and a new 7,000-seat concert venue.
Empire City Casino in Yonkers is eyeing a $3 billion upgrade to transform its slot-based racino into a full-fledged casino with live gaming tables.
As The New York Post report explained, the competition is now entering its final and most consequential phase. Casino applications must be formally submitted to the state Gaming Commission by June 27. Afterward, Community Advisory Committees — composed of local elected officials including the mayor, borough presidents, City Council members, and state legislators — must vote on any proposed projects within their jurisdictions by September 30.
Finally, the New York State Gaming Facility Location Board will review the approved bids and announce up to three winners by December 31, each of whom must pay a $500 million license fee.
Until then, with public sentiment unpredictable and political alliances in flux, the casino race remains anything but settled. Wynn Resorts’ dramatic withdrawal, as reported by The New York Post, serves as a cautionary tale for what happens when Wall Street ambitions collide with neighborhood resistance in New York’s most fiercely contested real estate battlegrounds.
