Saks Ditches New York Casino Proposal
A proposal from Sak’s Fifth Avenue and its parent company Hudson’s Bay Co. to transform three floors of Sak’s flagship store in Manhattan into a James Bond-style casino has been dropped, Crain’s reported April 10.
It is so far the only project that has been formally withdrawn from the process before official bids are due in June. A total of three downstate licenses will be awarded by the end of the year. Saks and Hudson’s Bay had first announced the project more than two years ago, but now that the effort has been abandoned, that leaves 10 remaining bidders for the three licenses.
Hudson’s Bay didn’t disclose exact reasons for ditching the proposal but there were a few signs that the bid was not likely to come to fruition. For example, the retailer had not partnered with a gaming operator, a necessary step if it wished to follow through. The project was also strictly a casino and lacked other amenities like a hotel or conference space, meaning it would not have generated as much revenue or jobs as other bids.
A’s Stadium on Track to Break Ground in June
The soon-to-be Las Vegas A’s are on track to break ground for their $1.75 billion ballpark on the Las Vegas Strip in June, according to an April 9 report from the Las Vegas Review-Journal. The paper cited the fact that the Raiders were able to start construction on Allegiant Stadium 68 days after securing permits from the county, which the A’s received last week.
“I think that’s about right,” Las Vegas Stadium Authority Chairman Steve Hill told the Review-Journal. “I would think sometime in that neighborhood we’ll have a groundbreaking and actually get started on serious construction.”
A June start would allow for the A’s to maintain their goal of finishing the stadium in time for the 2028 MLB regular season. The A’s have received county approval and an OK from the Federal Aviation Administration, another big pre-construction hurdle. Additionally, the team has brought in Marc Badain as its new president, who was a key figure in facilitating the Raiders’ move to Las Vegas and the building of Allegiant.
“He’s not only a great guy, but he also brings a wealth of experience in building one of the great sports venues in the world (Allegiant Stadium) and doing it in the town where we want to build one of the great sports venues in the world,” A’s owner John Fisher told the Review-Journal. “The ability to have him leading our organization as we embark on the next three years of building both a stadium and excitement in our market and with the community in Las Vegas is something we’re just thrilled about.”
NYC Planning Commission Advances Wynn’s Hudson Yard Bid
The New York City Planning Commission April 9 voted 9-4 to advance a rezoning proposal for a mixed-use development in Hudson Yards centered around a casino from partners Wynn Resorts and Related Companies, per W42ST.com. With the commission’s approval, the proposal must now be considered by the city council within 60 days.
If approved, Related and Wynn’s proposal would amend a 2009 plan from Related by increasing the amount of open space in the development but also reducing previous housing commitments. The housing change is what has garnered the most pushback—including from the four dissenting commissioners—but Related has said that the affordable unit count is the same, and only luxury units have been nixed.
Wynn and Related are among nearly a dozen bidders vying for three available downstate casinos licenses. Bids will be due in June with the licenses to be awarded by the end of the year. The Hudson Yards proposal in January was overwhelmingly rejected in a non-binding vote from Manhattan Community Board 4. That rejection won’t stop the process but could have an impact on further rulings to come.
Alabama Legalization Hopes Dead Again for 2025
After gambling expansion efforts came up one vote shy in the Alabama Senate last year, the issue won’t have the chance to even get that far in 2025. Earlier this month, Senate President Pro Tem Garlan Gudger released a statement proclaiming that this year’s expansion bill, sponsored by Sen. Greg Albritton, was “simply too little, too late, and has too few votes to pass,” per AL.com.
Albritton’s bill would have legalized a state lottery, sports betting, video gaming at six sites and the possibility to negotiate a Class III gaming compact with the Poarch Creek Indians, among other things. But with few days left in the state’s legislative session, Gudger and others believed that it did not have the requisite support to justify the time it would need to iron out any issues.
Following the defeat, Albritton was especially pessimistic about the issue ever getting across the finish line.
“We’ve tried everything we can on this bill over the years,” he told AL.com. “One thing has been proven is that it doesn’t matter what the bills says, period. If the word ‘gaming’ or ‘gambling’ shows up on the page, it’s a ‘no’ vote.”
Wind Creek Chicago Southland Opens Hotel
Wind Creek Chicago Southland held a soft opening for its 255-room hotel tower April 11, per the Chicago Tribune. The casino, operated by the Poarch Band of Creek Indians, opened last November and has quickly become one of the top performers in the state.
According to the Illinois Gaming Board, Wind Creek posted $16.9 million in adjusted gross receipts (AGR) in March, a 25 percent month-over-month increase. It drew some 219,000 visitors for the month. Rivers Casino Des Plaines led both categories, at $43.7 million in AGR and 260,000 visitors.
Atlantic County, New Jersey Settle PILOT Lawsuit for $15 Million
The years-long legal battle between Atlantic County and the state of New Jersey came to an end April 2 when the state agreed to settle the matter for $15 million, the parties announced April 8. At issue was back taxes the county was owed after the state enacted a payment-in-lieu-of-taxes (PILOT) program for Atlantic City’s casinos in 2016. In addition to the lump sum, the county will also receive quarterly casino payments through 2026.
Under the PILOT program, the casinos do not pay conventional property taxes. Instead, the rate of the annual PILOT is determined based on the casinos’ combined gross gaming revenue from the prior year. The law was enacted as a means to ensure timely tax payments after the casinos began to contest their property assessments when several properties closed in a short span from 2014 to 2016, but the county has contested the law from the start.
A 2021 amendment removed iGaming and online sports betting from the tax calculation, which the county argued further reduced the money it would have otherwise received. Atlantic County Executive Dennis Levinson has spearheaded the county’s eight-year legal challenge against the program, which was ultimately successful.
“This has been a long and expensive battle for both sides,” Levinson said in a statement. “Past and present county commissioners and municipal officials stood by me throughout this arduous process. Their enduring support helped bring this settlement to fruition. They shared my commitment to make our taxpayers whole. Together we accomplished our goal.”
Fertitta Scoops More Wynn Shares During Market Slide
Tilman Fertitta took advantage of the tariff-related stock market tumble April 4 to scoop up an additional 400,000 shares of Wynn Resorts, according to CDC Gaming. The Houston-based billionaire has been steadily increasing his stake in the company over the last year, and has become the largest individual shareholder.
So far his investments have been filed through 13D forms, which indicate passive investment. But Fertitta, who owns the Golden Nugget casino brand and is cousins with Red Rock Resorts leaders Frank and Lorenzo Fertitta, knows the gaming business and is rumored to have been unhappy with the company’s performance of late. His consecutive stake increases have led some to speculate he could be preparing a takeover of Wynn, but Fertitta has not commented on his intention.
Delaware North Partners with Fontainebleau
Delaware North, a global hospitality and entertainment company that operates casinos and other gaming venues, has partnered with Fontainebleau Las Vegas to bring special offers at the luxury resort and casino to Delaware North’s gaming loyalty club members.
Through the new partnership, more than 2.5 million members of Delaware North’s Lucky North Rewards loyalty program can receive complimentary or promotional stays at Fontainebleau Las Vegas as determined by program tier, with the nightly resort fee waived for all members.
Delaware North recently launched its greatly enhanced loyalty program with twice as long tier-earning and benefits-use periods and additional benefits for its members, including partnerships with national brands such as Fontainebleau Las Vegas to provide exclusive benefits and experiences beyond each of the gaming locations.
Harrah’s Metropolis Temporarily Closes Due to River Flooding
Harrah’s Hotel and Casino in Metropolis, Ill. temporarily closed April 6 due to flooding concerns from the nearby Ohio River. According to WSIL, the casino reached out to hotel guests to cancel reservations in the days that followed. The casino then reopened the morning of April 10.
