{"id":269,"date":"2025-09-18T21:45:28","date_gmt":"2025-09-18T21:45:28","guid":{"rendered":"http:\/\/www.chuckwardrealestate.com\/?p=269"},"modified":"2025-09-22T12:08:45","modified_gmt":"2025-09-22T12:08:45","slug":"nyc-casino-bids-reduced-with-caesars-times-square-larry-silversteins-avenir","status":"publish","type":"post","link":"http:\/\/www.chuckwardrealestate.com\/index.php\/2025\/09\/18\/nyc-casino-bids-reduced-with-caesars-times-square-larry-silversteins-avenir\/","title":{"rendered":"NYC Casino Bids Reduced With Caesars Times Square, Larry Silverstein\u2019s Avenir"},"content":{"rendered":"<ul>\n<li><strong>Six casino bids remain in downstate New York<\/strong><\/li>\n<li><strong>The state can grant three downstate gaming licenses<\/strong><\/li>\n<li><strong>Only one remaining bid is in Manhattan<\/strong><\/li>\n<\/ul>\n<hr \/>\n<p class=\"p1\"><span class=\"s1\">The number of remaining casino bids for downstate New York was reduced by two this week, as the Community Advisory Committees (CAC) for Caesars Palace Times Square and The Avenir were voted down.<\/span><\/p>\n<figure id=\"attachment_362980\" aria-describedby=\"caption-attachment-362980\" data-style=\"width: 858px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" class=\"size-post-thumbnail-858xAUTO wp-image-362980 lazyload\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" alt=\"New York City casino bids Freedom Plaza\" width=\"858\" height=\"572\" data-src=\"http:\/\/www.chuckwardrealestate.com\/wp-content\/uploads\/2025\/09\/Screenshot-2025-09-18-at-5.34.29\u202fPM-858x572-1.jpg\"><figcaption>A rendering of Freedom Plaza, the lone remaining casino bid in New York City&#8217;s Manhattan. Freedom Plaza is a more than $11 billion bid from the Soloviev Group and its gaming partner, Mohegan. (Image: Freedom Plaza)<\/figcaption><\/figure>\n<p class=\"p1\"><span class=\"s1\">Before the New York Gaming Facility Location Board can evaluate a casino for one of the three available casino licenses, the project must secure a three-fifths majority from its CAC.<\/span><\/p>\n<p class=\"p1\"><strong><span class=\"s1\">This week, the CAC for Caesars Palace Times Square <a href=\"https:\/\/www.casino.org\/news\/caesars-times-square-casino-rejected-by-advisory-committee\/\">voted 4-2 against the project<\/a> at 1515 Broadway. The Avenir, a bid presented by New York real estate tycoon Larry Silverstein, was also dealt a losing hand with a 4-2 CAC vote.<\/span><\/strong><\/p>\n<p class=\"p1\"><span class=\"s1\">The votes leave six bids for the three licenses. Each CAC has yet to cast its votes.<\/span><span class=\"s1\">\u00a0<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\"><b>Freedom Plaza Odds<\/b><\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">With Caesars Palace and The Avenir no more, and Wynn Resorts pulling out of the race in May, there remains just one bid in Manhattan. It comes from the Soloviev Group and Mohegan, the commercial gaming entity of the Mohegan Tribe in Connecticut.<\/span><\/p>\n<div class=\"callout\">\n<p class=\"p1\"><span class=\"s1\">Dubbed <a href=\"https:\/\/www.casino.org\/news\/new-york-city-casino-bid-east-side-says-it-has-public-support\/\">Freedom Plaza<\/a>, the $11 billion presentation would develop a five-acre plot that the Soloviev family has owned for many years. Located just south of the United Nations Headquarters, Soloviev and Mohegan have teamed to present an integrated resort that would be accompanied by more than 1,000 new homes, including 600 designated as affordable housing. The destination, along with resort and casino, would include a &#8220;museum dedicated to democracy,&#8221; a community center, a daycare center, a food market, and retail shopping.<\/span><\/p>\n<\/div>\n<p class=\"p1\"><span class=\"s1\">Soloviev CEO Michael Hershman believes one of the downstate casinos should be in Manhattan, the heartbeat of NYC.<\/span><\/p>\n<blockquote class=\"main-blockquote\">\n<p class=\"p1\"><span class=\"s1\">Despite the defeat today of two formidable applicants, we remain confident that one license should be awarded in Manhattan. Attracting more tourists than any other borough, the city should have a fully integrated resort that is fitting of its position as the global capital of the world,&#8221; Hershman said in a release to <i>Casino.org<\/i>.<\/span><\/p>\n<\/blockquote>\n<p class=\"p1\"><span class=\"s1\">&#8220;Proposing historic levels of public benefits, the $11 billion project will activate a long-dormant lot with urgently-needed new housing, create a huge public park advancing community connection to the waterfront, bring in dynamic hotels with diverse dining and modern entertainment that will power thousands of union jobs and generate revenues funding hundreds of millions in legally-binding community benefits. A transformative, generational piece of urban planning not seen in NYC in decades, Freedom Plaza embodies our core belief that development must serve the people who live, work, and visit here,&#8221; Hershman added.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\"><b>MGM, Genting Favored<\/b><\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">It&#8217;s long been suspected that two of the three licenses are reserved. <\/span><\/p>\n<div class=\"callout\">\n<p class=\"p1\"><span class=\"s1\">Though state officials have denied that MGM Resorts and Genting are the frontrunners for two of the licenses because of their longstanding commitment in New York, respectively operating Empire City Casino in Yonkers and Resorts World New York City in Queens, most analysts think they&#8217;re solid bets for two of the licenses.<\/span><\/p>\n<\/div>\n<p class=\"p1\"><span class=\"s1\">Hard Rock remains in the running for a casino in Queens at the New York Mets ballpark. Coney Island is being targeted by a consortium led by Saratoga Casino Holdings and the Chickasaw Nation, and Bally&#8217;s clings to life in the Bronx.<\/span><\/p>\n<p>The post <a href=\"https:\/\/www.casino.org\/news\/nyc-casino-bids-reduced-caesars-times-square-avenir-rejected\/\">NYC Casino Bids Reduced With Caesars Times Square, Larry Silverstein&#8217;s Avenir<\/a> appeared first on <a href=\"https:\/\/www.casino.org\/news\">Casino.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Six casino bids remain in downstate New York The state can grant three downstate gaming licenses Only one remaining bid is in Manhattan The number of remaining casino bids for downstate New York was reduced by two this week, as the Community Advisory Committees (CAC) for Caesars Palace Times Square and The Avenir were voted down. A rendering of Freedom [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"_links":{"self":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/269"}],"collection":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/comments?post=269"}],"version-history":[{"count":2,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/269\/revisions"}],"predecessor-version":[{"id":272,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/269\/revisions\/272"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/media\/271"}],"wp:attachment":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/media?parent=269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/categories?post=269"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/tags?post=269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}