Wynn, Related Bid for New Casino in Midtown Manhattan
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Wynn Resorts and Related Companies are teaming up to bid for a new Las Vegas-style casino in New York City. The site was previously considered for new Jets and Yankees stadiums. Related wants the casino to spearhead the next phase of its $25bn development of the Manhattan area.
Wynn owns a total of six casino hotels, the Encore and Wynn in Las Vegas, EnCore Boston Harbor in Massachusetts, Wynns Macau, and the Wynnt Palace in China. CEO Craig Billings said the site presents the ideal location for a resort that will reinvigorate tourism economy and provide billions in tax revenues for the city and state.
Wynn's stock price spiked 7.48% on volume to $65.23 by the close of Thursday's trading. Governor Kathy Hochul is interested in redeveloping the Yards.
