Editor
Wynn Resorts is withdrawing from the intense battle for a casino license in New York City, officially shelving its plan to develop a posh casino in the Hudson Yards neighborhood of Manhattan.
Wynn decided that spending funds to try to land such a license was simply not worth the effort. They anticipated years of persistent opposition and jumping through many hoops with little progress.
Competition for this NYC casino license has been intense, including a bid from Hard Rock. Steve Cohen, owner of the New York Mets, is the big player behind that bid. MGM Resorts is also in the mix.
Wynn is not the only one to pull out, as Las Vegas Sands is doing the same thing.
Casino executives from many companies have complained that the process of winning a casino license in New York state has little to do with the merits of the proposals. Rather, it is highly politicized and expensive, not to mention repeatedly delayed.
The complicated process harkens comparisons to where legal sports betting is available in the USA.
Wynn will instead pursue other uses of its resources, including a massive project to bring the first casino resort in the Middle East, the United Arab Emirates.
