One of New York’s most prominent developers is partnering with Rush Street Interactive on a proposal to build the first casino in New York City.
Larry Silverstein and Rush Street aim to secure a license for a casino in Manhattan.
Gaming companies have long had an eye on the Big Apple, home to more than eight million people that that also attracts tens of millions of visitors annually. The state has four commercial casinos, but New York City has never allowed one within its five boroughs.
That could be changing soon.
Bid due before end of the month
There are nearly two dozen casinos in New Yorks State, including tribal, commercial, and racinos. New York online casinos for real money are still not legal, but there are several sweepstakes casinos available to New Yorkers. New York sports betting was legalized in 2022.
New York is considering a proposal to allow three downstate casinos. Two would probably be awarded to racinos near New York City, which leaves one available to developers. A bid from Rush Street for the Silverstein project needs to be submitted to the New York State Gaming Commission by June 27.
The commission is expected to announce the awardees near the end of 2025.
Partners have solid connections to NYC
Rush Street Interactive has a history in the Empire State with casinos. Rush owns and operates Rivers Casino & Resort Schenectady. The company also has casinos and casino resorts in other states, including Pennsylvania, Illinois, and Virginia. It also owns BetRivers online casino and BetRivers Sportsbook, which serves New York.
Silverstein Properties has developed major construction projects throughout the city, including the Four Seasons Downtown property near Soho.
Silverstein spearheaded the rebuild of the World Trade Center location in Lower Manhattan. It secured ownership of the buildings a few months before the Sept. 11, 2001, terror attacks. The Brooklyn native navigated many challenges to get One World Trade Center completed, through court battles and insurance disputes.
Larry Silverstein recently told the New York Post that he wants to create opportunities for the city through a casino in the Big Apple.
“Our company has been part of the West Side for over 40 years, and we look forward to continuing to work together on a project that will bring much-needed jobs, tax revenue, economic development, and affordable housing to the city and state.”
A name for the future
Details of the Rush Street/Silverstein plan are being revealed even before the state has awarded a gaming license. The venue would be called Avenir Casino, which means “future” in French.
Avenir Casino would be operated by Rush Street Interactive, while Silverstein Properties would manage development.
Tim Drehkoff, CEO of Rush Street Gaming, said it’s a perfect partnership for New York City.
“We’ve seen how Silverstein Properties can transform a space. And our past projects have shown we know how to make destination casinos work. We’re looking forward to making this happen on the Far West Side.”
It may seem as if every square inch of New York City land is full. But Silverstein owns a vacant 92,000-square-foot lot at 11th Avenue and 41st Street. That spot would be home to a 46-story, mixed-use structure, featuring the new Avenir Casino. It’s likely a resort or hotel would also be part of the plan.
If the Avenir Casino project receives approval from the city, and if Rush Street is awarded a NYC casino gaming license, it’s estimated that 5,000 jobs would be created at the complex, with 4,000 union construction jobs to build it.
