Hoteliers vie for New York casino licenses in high-stakes competition
10.04.2024 - 17:05
/ travelweekly.com
The competition to nab a highly coveted license to operate a casino in New York City is heating up, and as new names enter the fray, it's likely to get even hotter.
The high-stakes frenzy kicked off in April 2022 when three new casino licenses for downstate New York, which includes the city and surrounding counties, made their way into the state's budget.
Two years later, the fact that the New York State Gaming Commission has not begun processing license applications has not stopped major players in gaming, hospitality and real estate from publicizing their proposals and getting a head start on lobbying efforts.
The latest hospitality company to throw its hat into the ring is Banyan Group, parent company of Banyan Tree and other hotel brands, which joined a bid being put together by gaming industry veteran Mohegan and developer Soloviev Group.
The trio's proposed project, on midtown Manhattan's east side, is a six-acre, mixed-use complex near the United Nations called Freedom Plaza. The proposal includes a 280,000-square-foot gaming area; 30 restaurants, bars and lounges; and two hotels, including a 1,000-room property flagged by Mohegan and a higher-end, 250-room Banyan Tree.
For Banyan Group, the Banyan Tree at Freedom Plaza would be the company's first property in the U.S.
Headquartered in Singapore, Banyan Group has 76 hotels across more than 20 countries, mostly in the Asia-Pacific region.
The proposed Freedom Plaza complex would be on the east side of Manhattan. Photo Credit: Banyan Group/Mohegan/Soloviev Group
"The [desire to] enter into the U.S. has been particularly strong for us over the last 18 months or so, and when we heard about this opportunity in New York, it was immediately a green light for us," said Gabriel Gn, Banyan Group's senior assistant vice president and head of business development. "We're very excited, and if we can be a part of this, it'll be a huge opportunity."
The New York property wouldn't be the company's first to exist alongside a gaming concept. Banyan Group opened the Banyan Tree Macau as part of the Galaxy Macau casino-resort complex in 2011.
"It has been wildly successful," Gn said of the Macau hotel. "Within casino clientele, there's a select group of very high-end customers who do expect something pretty amazing when it comes to the hotel they stay in, and we've been able to create that for them. And we think we can do that [in New York], as well."
Gn said the proposed New York property would be a luxe "oasis," with wellness programming a top priority and select suites offering Banyan Tree's signature in-room relaxation pools. "We'll almost be bringing a resort villa experience into an urban environment," Gn said.
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