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HomeWealth ManagementNYC Hudson Yards Developer Pitches 1,500-Room Resort in On line casino Bid

NYC Hudson Yards Developer Pitches 1,500-Room Resort in On line casino Bid

(Bloomberg)—Hudson Yards developer Associated Cos. is proposing a resort with about 1,500 visitor rooms as a part of its bid for one in every of New York’s gaming licenses.

Plans additionally name for about 20 eating places, a nightclub, theater and on line casino on the second part of the undertaking on Manhattan’s far west facet. The corporate additionally goals to extend inexpensive housing within the space and add a faculty, Associated Chief Govt Officer Jeff Blau mentioned on Bloomberg Tv Wednesday.

Associated is teaming up with Wynn Resorts Ltd. to pursue one in every of three gaming licenses for New York’s downstate space. Opponents embody SL Inexperienced Realty Corp., which has proposed a on line casino undertaking in Occasions Sq. in partnership with Caesars Leisure Inc. and Jay-Z’s Roc Nation.

If Associated is chosen, building of the advanced would kick off the second part of the corporate’s $25 billion Hudson Yards undertaking, on a web site between eleventh Avenue and the Hudson River. The primary part, east of eleventh Avenue, consists of workplace skyscrapers, residential towers and a shopping center.

A resort-casino on the western yards additionally would draw extra guests to the Jacob Okay. Javits Conference Heart, which not too long ago underwent a $1.5 billion enlargement, Associated mentioned.

“We expect it’s the opportune place to place one thing like this, and I believe it can generate the best financial improvement returns for the state,” Blau mentioned in an interview with Bloomberg TV’s David Westin. The undertaking “will kick-start over $10 billion of improvement in New York Metropolis at a time after we want it. We’d like the financial improvement, we want the roles.”

Associated expects a request for proposals from the state to be introduced early subsequent yr, with a number of the winners by the top of 2023.

To contact the authors of this story: Natalie Wong in New York at [email protected], David Westin in New York at [email protected]

© 2022 Bloomberg L.P.



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