A controversial proposal to build a $12 billion casino complex in Hudson Yards near the High Line was dropped in the face of fierce community opposition, officials said Monday.
The Wynn Resort-Related Companies partnership announced it withdrew the bid, which was due for submission next month.
“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.
Wynn cited “persistent opposition” for the withdrawal.
“The recent rezoning process has made it clear to us that there are uses for our capital more accretive to our shareholders, such as investment in our existing and upcoming developments and stock buybacks, than investing in an area in which we, or any casino operator, will face years of persistent opposition despite our willingness to employ 5,000 New Yorkers,” it said in a statement.
“We sincerely thank those who have supported our efforts, including our partners at Related Companies, and continue to believe that their proposed Hudson Yards West development is an outstanding opportunity for New York City.”
The proposal was opposed by Friends of the High Line and Community Board 4.
It’s just the latest proposal to get scuttled on Manhattan’s West Side.
Efforts to have sports stadiums have also been blocked over the years.
The state Gaming Commission is expected to award up to three casino licenses in the New York City area by year’s end.
This is a developing story.
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
