One of the most well-known developers in the United States has announced plans to construct the most luxurious casino ever on the western tip of Manhattan.
Just a few streets away, the developer of a 93-story tower with an Instagram-friendly observation deck is promising his own crowd-pleaser: Bar on the second floor of Caesars Palace overlooking Times Square in New York.
A competition to find a site in the middle of America’s largest city has received attention from Las Vegas’ Wynn Resorts and hip-hop mogul Jay-Z. They also consider offering online casino games.
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But the real estate moguls offering fanfare, such as Related Companies at Hudson Yards and SL Green in Times Square, must surmount an obstacle that money alone cannot buy: There are a few state and municipal officials who aren’t interested in the glitzy projects and are put off by Manhattan’s gradual transition into a playground for the affluent over the last few decades.
As the public process to grant a license worth $500 million or more gets going, this competition is heating up, and it’s opening the door for a gambling facility on the other side of the East River, in Queens, where the Mets’ owner is hoping to construct a casino on the stadium’s parking lot. A professional soccer stadium would be built on the vacant lots of auto businesses and junkyards, and the anticipated proposal from hedge fund billionaire Steve Cohen would be the icing on the cake.
In light of this, a war between the boroughs has begun.