Related Companies and Wynn Resorts today announced a partnership to pursue a downstate casino license on the Western Yards at Hudson Yards. The plan for a resort, entertainment and gaming destination along the Hudson River will deliver thousands of permanent and construction jobs and billions in direct and indirect tax revenue to the state and city. The New York State budget passed earlier this year provided for three downstate gaming licenses.
The Western Yards is ideally located directly next to Javits Center—which has recently completed a $1.5 billion expansion and is one of the busiest convention centers in the United States hosting the world's leading conventions, trade shows and special events. Together with the Javits Center, a world-class resort on the Western Yards would create the country's preeminent convention and entertainment district.
Located along the High Line's northernmost portion, Hudson Yards is walking distance to all of the region's major public transportation, including the 7-Train line, Penn Station (accessible to the LIRR, A/C/E, 1/2/3 Train lines), Moynihan Train Hall and the Hudson River Ferry.
"As New York City emerges from the pandemic, the Western Yards provides the ideal site for a resort that will reinvigorate our tourism economy and provide billions in tax revenues for the city and state," said Jeff T. Blau, CEO of Related Companies. "Combining Related's unparalleled ability to execute complex mixed-use developments with the best-in-class resort and gaming operator is the perfect pair and we're excited to pursue this together."
"Wynn Resorts has a long history of utilizing a compact, upscale casino floor to support the creation of spectacular resort experiences that appeal to an array of guests—travelers and locals alike," said Craig Billings, CEO of Wynn Resorts. "We look forward to engaging with the community, learning and understanding what we can do to help New York City to continue to thrive."
Developed by Related Companies and Oxford Properties Group, Hudson Yards is the center of New York City's rapidly evolving West Side and home to diverse shops and culinary experiences, offices for leaders in industry, public art, acres of open gardens and groves and dynamic hub to New Yorkers, tourists and visitors to the Javits Center.
About Related Companies:
Related Companies is a global real estate and lifestyle company defined by innovation and the most prominent privately-held real estate firm in the United States. Formed 50 years ago, Related is one of the largest private owners and preservationists of affordable housing in the U.S. and a fully integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisition, management, finance, marketing and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, West Palm Beach, Miami, Washington, D.C., Abu Dhabi and London, and boasts a team of approximately 4,000 professionals. With over $60 billion in assets owned or under development including the 28-acre Hudson Yards neighborhood on Manhattan's West Side, The Square in Downtown West Palm Beach, The Grand LA and Related Santa Clara in California and The 78 in Chicago. Related was named to Fast Company Magazine's list of the 50 Most Innovative Companies in the World. For more information about Related, please visit www.related.com.
About Wynn Resorts:
Wynn Resorts, Limited is a traded on the Nasdaq Global Select Market under the ticker symbol WYNN and is part of the S&P 500 Index. Wynn Resorts owns and operates Wynn Las Vegas (wynnlasvegas.com), Encore Boston Harbor (encorebostonharbor.com), Wynn Macau (wynnmacau.com), and Wynn Palace, Cotai (wynnpalace.com).
Wynn and Encore Las Vegas features 4,748 spacious hotel rooms, suites and villas, 33 dining experiences and bars, two award-winning spas, three shopping esplanades, meeting and convention space, two nightclubs, a beach club, two theaters and a golf course. Nearly 70% of the resort’s peak demand is powered entirely by renewable energy. Encore Boston Harbor is a luxury resort with 671 hotel rooms, an ultra-premium spa, specialty shopping, 16 dining and lounge venues, state-of-the-art ballroom and meeting spaces, a six-acre public park and Harborwalk. Wynn Macau is a luxury resort located in the Macau Special Administrative Region of the People's Republic of China with 1,010 spacious rooms and suites, 12 dining and bar experiences, convention space, a shopping esplanade, two opulent spas, a salon and a rotunda show. Wynn Palace is a luxury integrated resort on the Cotai Strip in Macau, with 1,706 exquisite rooms, suites and villas, 14 food and beverage outlets, meeting and convention space, an extensive shopping esplanade, SkyCabs that traverse an eight-acre Performance Lake, a lush spa and salon, and an extensive collection of rare art.
About Hudson Yards:
Hudson Yards is the newest neighborhood on Manhattan’s West Side developed by Related Companies and Oxford Properties Group. A template for the future of cities, Hudson Yards is Manhattan’s first LEED Gold Certified Neighborhood; home to leading retail brands in every category from luxury to fast fashion, including experiential concepts and first-ever stores from popular online retailers; restaurants and food experiences by world-renowned chefs and restaurateurs; dynamic cultural institutions; modern residences offering unparalleled amenities; more than five acres of public plazas, gardens and groves; the world’s first Equinox Hotel; state-of-the-art commercial office space for industry leaders including Meta, WarnerMedia, BlackRock and more; and eventually a new 750-seat public school. For more information on Hudson Yards, please visit www.HudsonYardsNewYork.com.
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