File: Ompany logos are displayed in Wynn Macau Resort in Macau, China
Wynn Resorts Let his offer to land a casino license in New York.
The company said on Monday that it has become clear through the re -use process that there is better use for its capital. Wynn had entered into a partnership with related companies to develop an integrated casino resort in the Posh Hudson Yards neighborhood of Manhattan, where high-end shops and restaurants are already busy.
Wynn Resorts has surrendered to the inevitability of “years of persistent opposition”, according to a press release from the company.
It is the second Casino giant this spring who throws the towel in a gaming license in New York.
Las Vegas Sands Announced in addition to his first quarter in April that it would no longer follow a license for the site that it had worked to develop at the Nassau Coliseum on Long Island. It blamed the Spector of competition from Igaming or online casino games, should the state legalize such offers.
Sands is working on finding a third party to “handle the possibility to offer on a casino license”, interpreted widely if another company would pay to take over a project that has cost the operating years of effort and tens of millions of dollars.
But private, Casino managers of more than half a dozen companies have complained that the process of winning a casino license in the state of New York has little to do with the merits of the proposals, but instead is very politized and expensive -and she continues to delay.
MGM Resorts And Resorts World, owned by Genting Group, is supposed to have received leaders for winning two of the three to be granted, because they already serve gaming activities with slots only with slots – no live table games.
Steve Cohen, owner of the New York Mets, works together with Hard Rock International, owned by the Seminole -Stame in Florida to develop an area near Citi Field for a casino.
Caesars works together with SL green And ROC Nation for a gambling palace on Times Square.
But Wynn says that “every casino operator” will be confronted with stiff opposition for years to come. The company said that instead it will spend its capital on stock buying and existing and upcoming developments. It builds the first casino resort in the middle -east in the United Arab Emirates.
