written and last updated by
Sam Smith at
23 Feb 2024
Journalist, Editorial Department
The cost of the joint project between Related Companies and Wynn Resorts to build a potential casino complex in Hudson Yards has increased. According to the New York Daily Post, the projected expenses now stand at $12 billion, up from the previously announced $10 billion in May 2023.
Developer Related Companies partnered with casino operator Wynn Resorts in 2022 to propose a mixed-use complex in the Hudson Yards area. The project, which will cover 52,600 square meters, plans to construct three skyscrapers ranging from 74 to 85 stories high. In addition to a 241,500-square-meter casino occupying five floors, the development will feature numerous amenities, including a 1,750-room hotel, a conference center, a 500-space parking garage, offices, and retail spaces. The complex will also offer over 1,500 residential units.
If approved, construction is expected to be completed around 2030. However, Related Companies and Wynn Resorts must first outmaneuver competitors in the race for three casino licenses in New York. Contenders, including Caesars, Las Vegas Sands, and Bally’s, are currently refining their proposals to persuade authorities of their merits.
On February 20, Related Companies and Wynn Resorts submitted a request to the Department of City Planning to amend the zoning for Hudson Yards. The document outlines the transformation of the area should they secure a casino license, including a new platform above the Long Island Rail Road station.
John Weinstein, a representative of Related Companies, stated that the opportunity to build a world-class resort in Hudson Yards would serve as a catalyst for the broader expansion plan of the area. He added that the proposed project would create thousands of jobs, generate billions in revenue, and provide public benefits, including a new park, affordable housing, and more.
Notably, Resorts World NYC was recognized as the best casino in the United States outside of Nevada in 2023.
