Silverstein Gets New Partner for Manhattan Casino Push

Photo by Andres Figueroa: https://www.pexels.com/photo/stunning-new-york-city-skyline-from-the-water-32046580/

Larry Silverstein just got a big boost for his Manhattan casino dreams. The man who rebuilt the World Trade Center now has Rush Street in his corner as he eyes a gambling hub on the Far West Side. They own Rivers Casino in Schenectady, so they are familiar with the New York gaming scene.

The casino world attracts folks with varying gambling appetites, including those who want to play without limits. These players use services that allow little to no restrictions on gameplay, withdrawals, deposits, and bets, improving their overall gambling experience. While there has been no official confirmation, Silverstein’s gambling hub could cater to this crop of players.

The project would transform a vacant lot at 41st Street and 11th Avenue into a 46-story entertainment complex if approved. Silverstein owns the whole 92,000-square-foot property, which sits just north of Javits Center. That means construction could begin as soon as regulators give the green light, with no time wasted on land deals or property transfers.

The team has some serious family business credentials. Both Silverstein Properties and Rush Street come from family-owned roots spanning multiple generations. Silverstein has been a West Side fixture for over 40 years, and now they want to deepen those community ties. Family businesses often take a longer view of projects.

Greenwood Gaming and Entertainment rounds out the partnership, bringing their experience from running two Pennsylvania casinos to the table. Tim Drehkoff runs Rush Street Gaming and spoke highly of what Silverstein built throughout NYC over the years. His company has experience with urban casinos, having pioneered gambling venues in Pittsburgh, Philadelphia, and Schenectady.

Jobs form a big part of their sales pitch. The Avenir would create about 4,000 union construction jobs during the building phase. Once the doors open, another 5,000 permanent union positions would follow. That adds up to 9,000 total jobs for New Yorkers. The tax revenue would flow to the city and state coffers.

But competition looks fierce for the three downstate casino licenses up for grabs. Regulators want all bids on their desks by June 27, and plenty of heavy hitters want in on the action. 

Related Companies teamed up with Wynn Resorts on a massive $12 billion casino plan for Hudson Yards. Other proposals target spots in Times Square, along the East River, near Citi Field in Queens, plus locations in the Bronx and Coney Island.

Silverstein made his name rebuilding after tragedy, taking on the World Trade Center project when many thought it impossible. Now he wants to make his mark in another part of town with this gaming complex. His reputation for finishing what he starts might give his bid an edge.

The Far West Side has already changed a lot in recent years. The Javits Center expanded, and new apartment buildings and offices popped up where warehouses once stood. A casino would add another layer to this evolving neighborhood. Some locals welcome the jobs and foot traffic.

Community support matters for these projects. The Silverstein team plans to work closely with residents and businesses throughout the development process. Smart move, since regulators pay attention to how communities feel about having a casino next door.

State officials face tough choices ahead. They must weigh job creation, tax revenue, economic impact, and neighborhood concerns for each proposal. With its shovel-ready status and union job promises, the Silverstein bid offers some advantages. The June deadline looms large for all contenders.

As June approaches, Silverstein and his partners keep polishing their plans, knowing full well they face stiff odds in this high-stakes game for what could become one of the most profitable casino spots in America today.