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Thursday, February 22, 2024

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 certainly one 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 mission on Manhattan’s far west aspect. 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 certainly one of three gaming licenses for New York’s downstate space. Rivals embody SL Inexperienced Realty Corp., which has proposed a on line casino mission in Instances Sq. in partnership with Caesars Leisure Inc. and Jay-Z’s Roc Nation.

If Associated is chosen, development of the complicated would kick off the second part of the corporate’s $25 billion Hudson Yards mission, on a web site between eleventh Avenue and the Hudson River. The primary part, east of eleventh Avenue, contains 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 is going to generate the best financial growth returns for the state,” Blau mentioned in an interview with Bloomberg TV’s David Westin. The mission “will kick-start over $10 billion of growth in New York Metropolis at a time once we want it. We’d like the financial growth, we’d like the roles.”

Associated expects a request for proposals from the state to be introduced early subsequent yr, with a collection 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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