Wynn Resorts Backs Away from New York License

On Monday, Wynn Resorts announced its voluntary withdrawal from the competitive bidding process for a New York casino license, narrowing the field of contenders for one of three available permits. Each license demands a minimum investment of $1 billion, underscoring the high stakes involved. However, Wynn’s exit was driven less by financial concerns and more by sustained local resistance to its proposed Hudson Yards development.

In an official statement, Wynn said:

After careful consideration, we have decided not to lodge an application for a gaming license in New York City.

Wynn’s retreat follows a similar exit earlier this year by Las Vegas Sands, which abandoned its bid in April. Sands cited the uncertain regulatory environment around potential legalization of New York online casinos as too risky for its primarily retail-focused business. Despite this, Sands has expressed interest in remaining involved through a partnership with another company.

Opposition and Rezoning Complicate Wynn’s Plans

Wynn’s proposed project at Hudson Yards had been a major undertaking, involving a $12 billion casino-resort plan developed in partnership with Related Companies and Oxford Properties. The proposal included a hotel, a school, and initially promised 2,000 housing units, although that figure was later reduced by 2,000 units, exacerbating local concerns.

Community groups, including advocates linked to the High Line, raised objections over the development’s potential impact on the neighborhood’s character and infrastructure. Wynn cited these persistent local objections, combined with ongoing rezoning efforts in New York City, as key reasons for halting the project.

Wynn’s CEO stated that the company would instead prioritize “investment in our existing and upcoming developments and stock buybacks,” viewing these options as more beneficial for shareholders than continuing to face “years of persistent opposition” in Manhattan. Wynn also noted its focus on other international expansion plans, including a casino resort in the United Arab Emirates.

Remaining Contenders and Market Outlook

With Wynn and Sands out, several prominent companies remain in the bidding process: Caesars Entertainment, Hard Rock International, MGM Resorts, Bally’s, and the Mohegan Tribe. Industry analysts widely expect MGM Resorts and Resorts World—who already operate successful video lottery terminal (VLT) facilities in Yonkers and Queens respectively—to secure two of the three licenses. Their established customer bases and operational infrastructure in New York state give them a strategic advantage.

The third license remains uncertain, with no clear frontrunner emerging. This open slot has attracted multiple bidders, but community support and regulatory approval will likely be decisive.

The New York State Gaming Facility Location Board (GFLB) and local Community Advisory Committees (CACs) have set a clear schedule for finalizing the licenses:

• June 27, 2025: Deadline for license applications
• September 30, 2025: CACs vote on candidate projects
• December 1, 2025: GFLB makes licensing decisions
• December 31, 2025: Gaming Commission issues final licenses

The licensing process underscores the complexity of balancing large-scale casino developments with community interests and regulatory scrutiny in a densely populated urban environment.

Wynn Resorts’ withdrawal highlights the challenges casino operators face when navigating New York City’s political and social landscape. The company’s decision to shift capital toward shareholder returns and international growth reflects broader uncertainties within the sector, especially amid evolving local zoning laws and community opposition. As the deadline for applications approaches, remaining bidders must address these concerns to secure one of the state’s lucrative licenses.