The battle for three downstate casino licenses in New York has taken another turn.
According to The New York Post, Larry Silverstein, the World Trade Center developer, is strengthening his efforts to bring a casino to Manhattan’s Far West Side.
Silverstein Properties is working with Rush Street Gaming to develop a massive entertainment complex called Avenir. This venture aims to enhance the skyline with a 46-story casino and mixed-use complex.
Here’s a closer look at the project and the competition for casino licenses in New York.
Silverstein's Ambitious Plan for Avenir
The proposed location for Avenir sits on a 92,000 square foot plot at 11th Avenue and 41st Street, just north of the Jacob Javits Convention Center.
With full control of this vacant land, Silverstein is ready to break ground once the necessary approvals are secured.
Chairman Larry Silverstein believes this partnership with Rush Street Gaming and Greenwood Gaming and Entertainment will create a "homegrown entertainment complex" that benefits the community.
This project is expected to generate 4,000 union construction jobs and more than 5,000 permanent union positions, promising economic development and affordable housing for New York City and State.
The Competitive Landscape for New York Casino Licenses
The New York downstate region is opening up three casino licenses, with bids due by June 27. This has sparked interest and competition among developers and operators eager to bring casinos to the area. The approval of these licenses is part of an effort to enhance tourism and create jobs in the region.
There are more than 10 contenders for the licenses in New York City, Long Island, and Westchester.
The competition is fierce, with heavyweights like Caesars Entertainment eyeing a Times Square spot, Mets Owner Steve Cohen's plan to build around Citi Field, a plan to put a casino next to Ferry Point Park in the Bronx, and a project at Hudson Yards.
Silverstein’s proposal for Avenir is a strong contender thanks to its strategic location and comprehensive development plan. With Rush Street’s successful track record in cities like Pittsburgh and Philadelphia, Silverstein is optimistic about their chances. However, the competition is stiff, with several other gaming entities also vying for these coveted licenses.
The Promise of Avenir for New York City
The Avenir project is more than just a casino; it represents a significant opportunity for job creation and economic revitalization of Manhattan's Far West Side. Silverstein emphasizes his long-standing commitment to the area, having been a key player in its development for over 40 years. The collaboration with family-owned and community-focused companies like Rush Street and Greenwood aligns with his vision for sustainable urban growth.
As the competition heats up for casino licenses, the outcome of these bids will shape the future of the gaming industry in New York’s downstate region. If successful, Avenir could become a landmark destination offering entertainment, employment, and prosperity to the city.
The decision on who will get the three casino licenses is expected in December.
