Inside Gaming: Vegas company bags bid for NYC casino license; new Strip baccarat room opens

Wynn Resorts Ltd. on Monday announced it is withdrawing from its Hudson Yards proposal.

With last month’s decision by Las Vegas Sands Corp. to end its bid for a casino at the former Nassau Coliseum site on Long Island, there’s now one Las Vegas company in the running for a New York license: MGM Resorts International, with its Empire City Casino proposal.

“After careful consideration, we have decided not to lodge an application for a gaming license in New York City,” Wynn’s surprising Monday announcement said.

“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 buybacks, 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,” the statement said.

Wynn’s development partner, New York City-based Related Companies, plans to continue to develop the site with 4,000 housing units.

It was the third withdrawal in six weeks and the second involving a Las Vegas casino operator.

Las Vegas Sands announced in April that it was withdrawing after voicing concerns about the marketability of a brick-and-mortar property when the state is embracing online iGaming licensing.

Earlier in April, Saks Fifth Avenue announced it had aborted a plan to build a casino on the top floors of its flagship Manhattan retail store.

MGM’s Empire City Casino has always been considered a front-runner in the bid for three downstate casino licenses because it would be located at Yonkers Raceway, where the company already maintains slot machines.

Four other companies with Las Vegas ties also are in the running for New York licenses.

Caesars Palace Times Square has been proposed by Reno-based Caesars Entertainment, which has nine Strip properties, including its flagship Caesars Palace.

Resorts World New York City also is located at a horse track, Aqueduct Racetrack in Jamaica in Queens. It’s run by the Malaysia-based Genting Group, which also operates Resorts World Las Vegas. Plans are underway to close the track and instead expand nearby Belmont Park.

The proposal for Bally’s Bronx at Ferry Point Park would be operated by Rhode Island-based Bally’s Corp., which plans to build a new resort adjacent to the Athletics’ baseball stadium at the former site of the Tropicana at Las Vegas Boulevard and Tropicana Avenue.

Florida’s Seminole Indian Tribe, which is redeveloping The Mirage site into Hard Rock Las Vegas on the Strip, is a partner for a New York casino at Metropolitan Park, near Citi Field, home of the New York Mets baseball team.

There are two other casino projects in the running in New York and a decision on what companies will win the three bids will be made by the end of this year or in early 2026.

Rio cuts ribbon on baccarat room

The Rio hotel-casino unveiled a new baccarat room last week, marking another step in the off-Strip property’s $350 million multi-phase renovation.

Rio’s baccarat room is just off the main casino floor and is designed to accommodate players of all experience levels, according to a news release.

“We are excited to unveil our new Baccarat Room, developed in response to the increasing momentum behind Rio’s gaming operations,” said Patrick Miller, the property’s president and chief executive officer. “This inviting new space marks the latest step in the ongoing transformation of our casino floor. As guest preferences continue to evolve, we remain committed to delivering a dynamic, inclusive gaming experience that reflects the energy and spirit of Rio Las Vegas.”

The new table game room is among recent property upgrades that include the Canteen Food Hall, Lapa Lounge and Luckley Tavern & Grill, all of which have opened since Dreamscape Companies took over Rio nearly two years ago.

Dreamscape purchased Rio for $516.3 million from Caesars Entertainment in 2019, with the latter company maintaining operational control of the property until October 2023. New York City-based Dreamscape plans to spend upwards of $350 million restoring the property.

Prospect of North Jersey casinos raised again

Lawmakers in New Jersey are, once again, proposing a constitutional amendment to allow in-person casino gaming in areas of the Garden State besides Atlantic City.

The introduced legislation would create a constitutional ballot question asking voters whether casinos should be permitted at Meadowlands Racetrack in East Rutherford and the Monmouth Park Racetrack in Oceanport.

Previous attempts to expand gaming in N.J. have failed, most recently in 2016 when voters overwhelmingly rejected the idea.

There are currently nine casinos in Atlantic City. Online casinos in N.J. now account for more monthly gaming revenue than the brick-and-mortar properties in Atlantic City.

Lawmakers in N.J. are hoping to fend off the looming threat of New York City casinos, which most industry experts believe will cause further constriction of the Atlantic City casino market. New York City is in the process of awarding three class III casino licenses, which would permit Las Vegas-style gaming in the Big Apple.

“This (introduced legislation) plants a flag to send a message to New York State that if they open a casino in Manhattan, that New Jersey is ready to respond to the competition,” said state Sen. Paul Sarlo, one of two co-sponsors of the gaming expansion proposal.

The Review-Journal is owned by the Adelson family, including Dr. Miriam Adelson, majority shareholder of Las Vegas Sands Corp., and Las Vegas Sands President and COO Patrick Dumont.