- Wynn Resorts has officially ended its bid for a NYC casino license, citing zoning hurdles and long-term opposition.
- The company had partnered with Related Companies to propose a casino in Manhattan’s Hudson Yards.
- Las Vegas Sands also dropped its Long Island bid in April, highlighting broader industry frustration with New York’s licensing process.
- Wynn will redirect capital to stock buybacks and its UAE resort project, rather than continue its NYC pursuit.
Another Player Folds
Wynn Resorts has withdrawn its bid for a New York City casino license, becoming the second major operator this spring to exit the race, reports CNBC. The company had planned to develop an integrated casino resort in Hudson Yards with Related Companies, but said the challenges of rezoning and ongoing public opposition made the venture untenable.
Frustration Grows In The Industry
Wynn’s decision follows a similar move by Las Vegas Sands, which announced in April it would no longer pursue a license tied to the Nassau Coliseum site. Sands cited potential iGaming competition and escalating costs as key deterrents. It is now looking for a third party to assume control of the project.
Privately, multiple casino executives have expressed concerns over the state’s highly politicized and costly licensing process, which has faced repeated delays and lacks clarity on selection criteria.
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Who’s Still In The Running?
While Wynn and Sands have stepped back, other contenders remain in the fray:
- MGM Resorts and Resorts World (Genting Group) are favored for two of the three available licenses, as they already operate slot-machine facilities in NYC.
- Steve Cohen, owner of the New York Mets, has partnered with Hard Rock to propose a casino near Citi Field.
- Caesars Entertainment, along with SL Green and Roc Nation, is pushing for a Times Square casino.
However, Wynn warned that “any casino operator” in New York should expect prolonged resistance and delays.
What’s Next For Wynn?
Instead of pursuing the NYC license, Wynn says it will allocate capital toward stock buybacks and expansion in other markets, including its flagship development in the UAE — the first casino resort in the Middle East.
Why It Matters
New York’s plan for three downstate casino licenses has stalled amid delays and politics, discouraging even top-tier operators. Wynn’s exit highlights rising uncertainty and costs tied to one of the most sought-after casino projects in the US.
