Manhattan Community Board Rejects Casino Proposal

New York is the nations biggest market for our best sports betting sites, but casinos are a different story altogether. New York does not yet have a real-money online casino market, and while upstate you can access brick-and-mortar casinos, New York City is a different story.

On Monday night, Manhattan Community Board 4 voted unanimously against Related Companies and Wynn Resorts' proposal to build a $12 billion casino complex in Hudson Yards. 

In December, Wynn Resorts appointed two new members to its Investor Relations team: Price Karr as SVP and Lauren Seiler as VP. At the time, Wynn Resorts CFO Julie Cameron-Doe clarified that the aim of bringing Karr and Seiler into prominent positions on the Investor Relations team was to combine deep industry knowledge with fresh perspectives to enhance relationships with the investment community.

One of the first projects of the new year to catch investors’ interest has not gone down favorably with the local populace. The Wynn project is one of 11 casino projects proposed across Manhattan and adjacent suburbs. The proposed casino complex, which includes an 80-story tower that includes both market-rate and affordable housing, a public park, and a new K-8 school, is set to overlook the Hudson River. Up to 35,000 union construction jobs and more than 5,000 unionized employees in permanent employment are also planned. 

Local opposition has been stark, with 39 voting against and one abstaining. One reason for the unanimous vote, according to Joe Restuccia, a member of Community Board 4, is that the agreement with Related Companies initially suggested 5,700 units of housing within the complex. In contrast, the latest proposal reduced it to 1,500 units, of which 324 were affordable housing.

Alan van Capelle, executive director of Friends of the High Line, called the Wynne project “tone deaf.” He continued: “We’re in the middle of a housing crisis, and this plan takes away much needed housing.”

The advisory vote for the project goes next to Mark Levine, Manhattan Borough President.

MGM Resorts Contributes $5 Billion to New York Economy 

Since being legalized in New York in 2013, the casino industry has experienced remarkable growth, which has improved the city's financial flow. In the last five years, MGM Resorts has donated over $1.3 billion to education, and Empire City gives approximately $25 million each month to help K-12 public schools. 

Yearly, MGM Resorts gives hundreds of millions of dollars to harness racing and local and state governments. It has also overhauled the historic Yonkers Raceway, including new track surfaces, LED lights, and a new cutting-edge tote board.

Empire City pays out over $90 million yearly in wages, with more than 70% of its workers living in Yonkers, Mount Vernon, and the Bronx, and unions representing over 90% of the staff. 

Like Wynn Resorts, MGM Resorts is interested in one of the commercial gaming licenses that New York State might issue. With these licenses, Empire City could expand, generating another 2,500 jobs, supporting more than 10,000 jobs, and increasing overall economic activity by over $1 billion. 

New York Casino Figures Rise in November 

The financial figures have increased as casinos have become a greater economic factor in New York’s financial landscape. The New York State Gaming Commission revealed a 5.1% year-on-year increase in gross gaming revenue (GGR) for commercial casinos in November 2024.