Wynn Resorts Withdraw Plans For $12B Hudson Yards Casino Complex

NEW YORK CITY — Wynn Resorts and Related Companies have decided to withdraw its bid and proposal to build a $12 billion casino complex in Hudson Yards near the High Line, according to a report.

The proposal had faced opposition from Friends of the High Line, Community Board 4 and City Councilmember Erik Bottcher.

“After careful consideration, we have decided not to lodge an application for a gaming license in New York City,” Wynn Resorts told the New York Post.

“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 employ 5,000 New Yorkers."

Bottcher in a statement said the proposal did not meet "the high bar of community support that such a consequential project demands."

"I have always said that any development of this scale must put the needs of New Yorkers first, and that means housing.”

Applications for the casino bid were due next month, according to reports.

Besides the Wynn Resorts proposal, two other proposals for one of New York State’s limited casino licenses are still in play.

Those two bids include: the Avenir proposal from Silverstein Properties and Rush Street Gaming at 11th Avenue and West 41st Street, and the Caesars Palace plan by SL Green at 1515 Broadway.

“We sincerely thank those who have supported our efforts, including our partners at Related Companies, and continue to believe that their proposed Hudson Yards West development is an outstanding opportunity for New York City," Wynn Resorts added.

This is a developing story. This post may be updated.