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Silverstein Properties and Greenwood Gaming & Entertainment want to build two towers over 1.8 million square feet in midtown. It would feature a 1,000-room hotel, a 1,000-seat hall, and an eight-story casino. This is such a presumed lock that Yonkers Mayor Mike Spano recently urged the gaming commission to just OK the bid now so they could get started. There are now eight would-be bidders, and I’ve decided to open a fake sportsbook to take fake wagers on which very real bids are going to get the nod. Wynn Resorts is dropping its bid to land a casino license in New York.
With three bids already withdrawn, several others are on the fringes. This includes a Coney Island bid from Thor Equities, which faces a council vote Thursday, and the Manhattan bids, which are trudging through environmental reviews. On paper, it would seem difficult for Bally’s to complete such a project even if a licence were to be awarded. The company is currently racing against the clock to construct its permanent Chicago casino by September 2026. That project, which costs significantly less ($1.7 billion), has seen multiple setbacks, including a recent work stoppage over unapproved contractors. A significant funding agreement was needed to finance the project.
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