Wynn Resorts has officially withdrawn its bid for a New York City casino license, marking a significant shift in the competition for one of the most sought-after gaming markets in the United States. The company had partnered with Related Companies to propose a luxury casino development in Manhattan’s upscale Hudson Yards, an area already known for its premium retail and dining options. Wynn stated that through the ongoing rezoning process, it had become evident that the opportunity no longer aligned with its strategic capital priorities.

The decision highlights a broader trend among major casino operators encountering obstacles in the New York market. Wynn becomes the second major firm this spring to exit the race. Las Vegas Sands recently halted its own bid to secure a license for a casino at the Nassau Coliseum site on Long Island, pointing to potential changes in state gaming regulations and intensifying digital competition from online casinos.

According to industry insiders, the licensing process in New York has been plagued by political entanglements, regulatory delays, and soaring development costs. Executives across the gaming sector have privately voiced concerns that the process prioritizes political leverage over the strength of individual proposals. These frustrations have led companies to reevaluate their investments in the state.

Meanwhile, companies with existing gaming operations in New York, such as MGM Resorts and Resorts World (owned by Genting Group), are considered strong contenders for two of the three available licenses. Both already operate facilities with electronic gaming but are eyeing full-scale casinos with live table games.

Other major bids remain in play. Steve Cohen, owner of the New York Mets, is collaborating with Hard Rock International on a proposal near Citi Field. Caesars has joined forces with SL Green and Roc Nation to promote a high-profile Times Square casino project. Yet the opposition remains strong across the board, raising doubts about the feasibility and timeline for any of these projects to advance.

Wynn Resorts has made clear that it will pivot its resources toward more favorable ventures. The company plans to prioritize stock buybacks and ongoing development projects, including construction of the first casino resort in the Middle East, currently underway in the United Arab Emirates.