Stunning plans for a $12 billion CASINO skyscraper that would change New York’s iconic skyline forever… but only after a major change in the law
STUNNING plans have been unveiled for a whopping $12 billion skyscraper casino resort in New York City.
The mega-complex would stand 80 stories tall and could completely renew the city’s iconic skyline forever – but developers could face a major battle to get it built.
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The bright minds behind the idea – Wynn Resorts – boasted the wonderful concept artwork showing the potential new development overlooking the Hudson River.
The ambitious project, called Wynn New York Cityis designed virtually next to real estate giants related companies and could sit on the west side of Manhattan.
Next to it will be two other high towers, covering no less than 13 hectares.
The casino resort will be packed into the bottom five floors of the main skyscraper luxury hotels for guests completing the massive construction.
Elsewhere, a chic ballroom and spacious conference rooms will span multiple floors, as will hundreds of shops and restaurants.
The second tower will consist of a 1,400-meter office building.
Since the third gigantic building will house 1,500 apartments, the top floor of which is over 1,200 meters high, the plans claim.
It is believed there is also a public school capable of accommodating 750 students on site, in addition to a large community center and childcare center for young people.
Outside, a vast and beautiful 5.6 hectare park surrounds the glamorous skyscrapers.
Wynn New York City will attract luxury and ambitious travelers to our destination resort in Hudson Yards
Craig Billings
As many as 35,000 jobs will be created during the construction of the skyscraper if it gets the green light with more than 5,000 permanent jobs for when the resort is operational.
The developers hope the idea will boost tourism to New York and help the economy grow.
Craig Billings, CEO of Wynn Resorts said: “As the leading designer, developer and operator of premium gaming resorts in the world, Wynn New York City will attract luxurious and ambitious travelers to our destination resort in Hudson Yards.
“Wynn guests consistently spend more when they travel.
‘That yields more tax revenue for the city and state and more spending in the local community, all with less foot traffic than might be necessary at other resorts.
Jeff Blau, CEO of Related Companies, said: “Hudson Yards has already proven to be an unparalleled catalyst for New York’s economy, first through tens of thousands of construction jobs and now as home to the world’s leading companies. retail and housing.
“Moving forward with the second phase of development offers an incredible opportunity to double the impact and provide for generations advantages to the state, the city and especially our West Side neighbors.”
“We look forward to completing our vision for the neighborhood in partnership with Wynn Resorts and unveiling full project plans as part of our New York State application.”
The final price tag has yet to be revealed, but previous reports have suggested that such a project could total around $12 billion.
Michael Weaver, chief communications and brand officer at Wynn Resorts, told The Sun: “Although the total development cost for the Western Hudson Rail Yards complex could be as much as $12 billion.
“The development cost for the Wynn New York City gaming resort is approximately $5.7 billion, excluding licensing and financing costs.”
And one of the biggest costs would be retrofitting and renovating the abandoned Hudson Yards rail yard.
Plans suggest the skyscraper will be built directly on top of an old railway line.
THE BIG PROBLEM
Currently, locations in New York are not licensed to allow people to gamble in casinos.
This means that there are no registered casino complexes in the entire bustling state.
But officials in New York are now said to be strongly considering issuing three unique licenses across the state so casinos can be built.
New York City, Long Island and the northern suburbs are believed to be the eligible areas.
But for a new, flashy one gamble hub yet to be built. Winning bidders will have to cough up an additional $500 million licensing fee just to run the casino.
This is in addition to the enormous costs of building and maintaining such an expensive location.
But beyond the beauty of Manhattan, several other developers are already planning their own casinos.
In Queens, New York Mets owner Steve Cohen has proposed an $8 billion center called Metropolitan Park.
In addition to the performance location, there will also be a hotel and a music location.
This could be the last in a long line of improvements to the Queens area as new football stadium is in the making New York City F.C.
And Resorts World New York City’s slot parlor in South Ozone Park also recently announced its plans to expand with a casino at the sprawling complex.
Their $5 billion expansion would also add a 7,000-seat concert hall.
Elsewhere, developers and casino operators have joined forces in a proposal to build a casino in Times Square and one in The Bronx.
The other problem for Wynn New York City is getting the plan approved by city officials.
The process of such an expensive and large build can often result in lengthy checks and balances before construction can even begin.
Despite all this, a source spoke about the Hudson Yards plan, saying, “This project has gone from a ‘no’ shot to a long shot.”
New York Gambling Laws
NEW York has been one of the last untapped gambling markets in the US for decades.
Currently, Las Vegas is the gambling center of the US and most of the world, but New York wants to take advantage of the huge profits that casinos can make.
But also stimulate tourism and economic success in the state.
In order for people to gamble, resorts must have a state-approved license – currently these licenses are banned in New York, making casinos illegal.
But casino companies have been knocking on officials’ doors for years to open New York to the world of gambling – both in person and online.
New York City in particular has long been seen as a gold mine for casino companies. The city has an estimated population of 23 million and is a global hub for tourism.
Lucky voters in New York first approved the new legalization of “Vegas-style” casinos in 2013.
But now new applications will be discussed by casino owners and the relevant authorities, with an estimated ten companies looking to open resorts.
However, there are only three licenses up for grabs.
After reviewing all applications, the board will speak with the state Gaming Commission, which will have the final say on who is awarded a license.
However, online sports betting is legal and has been allowed since 2002.
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