The competition for one of three downstate New York casino licenses is heating up as 2022 wanes. The owner of some property in Manhattan has shared his plan to join that competition, making his own Manhattan casino bid.
The bid rivals another play for a casino in Manhattan and makes it more likely that the borough will be home to one of the three casinos. The competing bids involve different parts of the borough, however.
New Manhattan casino bid emerges
According to Patrick Clark of Bloomberg, real estate developer Stefan Soloviev is currently the driving force behind this new bid. Soloviev owns the 9 West 57th St building in New York City and other properties.
Clark reports that Soloviev plans to build the casino on a site he already owns just south of the United Nations in Manhattan. His plans include a 1,000-room hotel, a museum, and a Ferris wheel in addition to the gaming.
Six of the nine acres on the plot currently sit idle, making for an easy pitch as far as economic rejuvenation goes. While Clark states Soloviev has not yet identified a partner that would operate the casino, Soloviev is reportedly “in discussions with several Las Vegas-based firms” on that subject.
When Soloviev has his bid ready for submission, it will be just one of several for state regulators to consider. It won’t even be the only bid to feature a site in Manhattan.
Caesars eyeing Manhattan as well
It seems a pretty safe guess that Soloviev won’t be partnering with Caesars on his bid. Caesars has already announced a partnership with SL Green Realty to submit a bid for a Manhattan casino.
The projected site is in Times Square, however. Like Soloviev’s proposal, Caesars’ bid features other entertainment options like a Broadway-style theater and restaurants. Other likely bids include other parts of New York City and Long Island.
With MGM Resorts’ Empire City and Resorts World’s New York City facility in Queens likely to get two of the three available licenses, all these bids will probably be competing for just one slot. That should make the competition for that license one of the fiercest in gambling history.
Soloviev appears to have the resources to compete, especially because he already owns the site featured in his bid. Sometime early in 2023, he’ll find out if he’ll get the opportunity to develop a new Manhattan casino.