Wynn Resorts has officially pulled out of the race for a New York City casino license, shelving its high-profile Hudson Yards casino proposal. The decision, confirmed in a public statement on May 19, puts an end to any future plans the company had for building a luxury gaming and hotel tower on Manhattan’s west side.
Good to know
- Wynn’s Hudson Yards casino plan included an 80-story tower, office space, residences, and a 5.6-acre park.
- The City Planning Commission approved the Hudson Yards rezoning on April 10, but not the casino itself.
- Wynn recently paid a $5.5 million settlement to the NGCB over regulatory matters.
Wynn Resorts decided not to move forward with its application after reassessing the long-term value of entering the New York market. In the official statement, the company explained, “After careful consideration, we have decided not to lodge an application for a gaming license in New York City.”
The company noted that recent zoning developments in the area made it clear that better returns could come from focusing elsewhere. “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 buy backs, than investing in an area in which we, or any casino operator, will face years of persistent opposition despite our willingness to employee 5,000 New Yorkers.”
A concept that will not move forward
Wynn’s vision for the Hudson Yards site was ambitious. The proposed project included a rose gold, 80-story tower featuring both a hotel and casino, a multi-level commercial podium, residential apartments, and green public space. The development was designed to sit along the Hudson River and would have been built in partnership with Related Companies.
Although the City Planning Commission approved zoning changes in early April, the body clarified that it had not made a decision on the casino component of the proposal. That uncertainty, combined with projected long-term opposition, likely contributed to Wynn’s decision.
Despite backing away, Wynn acknowledged those who had supported the project. “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.”
Focus turns to internal growth
Just before the announcement, Wynn also addressed its regulatory compliance standing. Following a $5.5 million settlement with the Nevada Gaming Control Board, the company reaffirmed its focus on strong governance. In the statement, Wynn said it remains committed to “acting with the highest integrity and in full compliance with all laws and regulations governing our industry.”
Earlier this month, Wynn Resorts reported Q1 2025 revenue of $1.7 billion, down 8.7%, with net income falling nearly 50% to $72.7 million; Las Vegas led with $625.3 million.
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