Wynn Resorts Reveals Additional Details On $12 Billion Casino Plan
Wynn Resorts Reveals Additional Details On $12 Billion Casino Plan
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Wynn Resorts, a publicly traded corporation that develops and operates high-end hotels and casinos based in Nevada, has presented additional bold plans for a $12 billion skyscraper casino resort in New York City. Wynn Resorts recently unveiled renders of its planned complex in Hudson Yards.
a 5.6 acre resort
The proposed project as part of a partnership with related company, a real estate company, also features a series of office spaces, bars, residential buildings, and a large 5.6 acres of parkland that will serve as a neighborhood resort. The mega complex will renovate the city's skyline to 80 stories tall.
According to Michael Weaver, chief communications and brand officer at Wynn Resorts, the total development cost of the Western Hudson Rail yard complex could reach $12 billion, but "the development cost of the Wynn New York gaming resort is approximately $5.7 billion, excluding licensing and financing costs."
One of the most important costs is related to the adaptation and renovation of the abandoned Hudson Yard railway site.
Wynn Resorts CEO Craig Billings explained that Wynn New York City will "attract luxury and aspirational travelers" to their destination resort in Hudson Yards.
He argued that Wynn guests usually spend more during their travels, creating more tax revenue for the city and state and more in the community while reducing foot traffic compared to other resorts.
In addition, the new resort can create 40,000 open employment jobs, around 35,000 construction, and 5,000 permanent jobs.
If licensed, the resort would have to pay $500 million for the license. In February, Wynn announced that it had increased the Las Vegas resort fee for guests from $45 to $50.
strong contenders on the horizon
The facility looks promising, but it has several strong contenders for three available licenses for casinos in the state provided by the New York State Gaming Commission.
In 2023, for example, Steve Cohen, owner of the New York Mets, also spoke about plans to build a similar 50-acre development surrounding City Field in Queens.
The project's name, Metropolitan Park, will feature a hard rock hotel with conference space, restaurants, games, and live music. The project will create around 15,000 new jobs for New Yorkers. 바카라사이트 추천
Resort World is also busy improving the user experience amid fierce competition. The Queen's Casino announced a $5 billion redevelopment plan to turn the site into a "global" resort for entertainment purposes.