Related Companies teams with Wynn Resorts on Hudson Yards casino bid

Hudson Yards developer Related Companies is putting its money on a hot horse from Vegas in the turbulent race to open a casino resort in Manhattan.

The real estate giant, headed by Stephen M. Ross, has teamed up with Wynn Resorts to “pursue” a casino license for the western rail yard — the proposed second half of the 28-acre Hudson Yards complex, Related said on Thursday.

Building the Yards’ western portion, which is now an exposed and sunken train yard, has been a priority not only for Related, but for Gov. Kathy Hochul as it was for her predecessor Andrew Cuomo.

Wynn Resorts owns two casino hotels in Las Vegas, one in Everett, Mass., and three in Macau, China. The company, founded by Steve Wynn, is now run by CEO Craig Billings.

The Wynn deal confirms a longstanding buzz that Related was chasing a gaming-industry partner to put its chips down in the west side yard. The $25 billion development plan for residential and office towers and a new park between Eleventh Avenue and the Hudson River in the West 30s was stalled by the pandemic.

But a green light to build a spectacular casino/hotel/entertainment complex could kickstart the project, which requires a deck to be built over the tracks as was done for the eastern portion. The casino would be situated close to the recently expanded Jacob Javits Convention Center.

Stephen M. Ross.
Related Companies is headed by Stephen M. Ross.
Eduardo Munoz/REUTERS

The Wynn partnership is an important preliminary step in Related’s strategy that might  give it a jump on its rivals.

The state earlier this year authorized three downstate gaming licenses, two of which Mayor Eric Adams wants for New York City. But the state Gaming Commission has not yet issued a formal request for proposals.

However, the commission is expected to create a Gaming Facility Location Board by Oct. 6, a big step toward putting out an RFP.  

Related is the first suitor for the license to land a contract with a major casino operator. Its competitors have pursued Hard Rock and Sands, but no deals have been struck.

The property eyed by Related and Wynn is located at the western rail yard in Manhattan, a part of the 28-acre Hudson Yards complex.
Getty Images
Wynn Casino
Wynn Resorts owns two casino hotels in Las Vegas, one in Everett, Mass and three in Macau, China.
George Rose/Getty Images

As The Post first reported, SL Green, Vornado Realty Trust and Thor Equities are among other developers interested in building a casino at various sites in the Big Apple from Times Square to Coney Island.

Hochul will likely have the final say on the choice of license awards.

Related chief Ross has donated $69,700 — the largest sum — to her election campaign, Board of Elections records show. But he wasn’t alone. Other big-bucks donors included Vornado chairman Steven Roth, who’s also on the casino chase, as well as Larry Silverstein.

Neither SL Green nor Vornado would comment on Related’s announcement.

Real Estate

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