Silverstein & Greenwood Plan NYC Casino
Author:
Scott Lawson
Silverstein Properties, a prominent real estate firm, and Greenwood Gaming and Entertainment have announced their joint bid for a commercial casino in downtown New York City. Their proposed project, named ‘Avenir,’ is intended for Manhattan’s far West Side and is estimated to span an expansive 1.8 million square feet. The project also encompasses a hotel and a residential complex.
Silverstein Properties, a large real estate firm, together with Greenwood Gaming and Entertainment have announced their joint bid to build a commercial casino in downtown New York City.
?Emiliano Bar/Unsplash
Project Would Create 5,500 New Full-Time Jobs, Should It Go Ahead
Silverstein Properties, a prominent real estate business, and Greenwood Gaming and Entertainment, the operator of Parx Casino in Pennsylvania, have recently announced their joint bid for a commercial casino in downstate New York. The proposed casino, named ‘Avenir,’ would be situated in the far West Side of Manhattan and encompass an expansive 1.8 million square feet. In addition to the casino, the project aims to incorporate a hotel, various entertainment amenities, and a residential complex.
While detailed specifics of the venue are yet to be disclosed, Silverstein anticipates that if the entire project receives approval, it could generate approximately 5,500 permanent jobs, providing a significant economic boost to the area. Furthermore, an estimated 4,000 construction jobs would be created during the development phase. Recognizing the importance of assessing potential environmental impacts, AKRF, an environmental consulting firm, would conduct an Environmental Impact Study to evaluate the effects of the project on the local community, particularly focusing on Hell’s Kitchen to the north and Hudson Yards to the south.
To support the realization of the ambitious undertaking, Silverstein has joined forces with Karp Strategies, an urban planning and strategy consulting firm. Their collaboration aims to leverage expertise in urban planning to ensure the project aligns with the surrounding community’s needs and contributes positively to the city’s landscape. As the bidding process progresses, stakeholders eagerly anticipate the potential economic benefits and job opportunities that could materialize if the Avenir casino project becomes a reality in the heart of Manhattan.
Project Will Work Closely Together with Local Leaders to Ensure Sustainability
Larry A. Silverstein, Chairman of Silverstein Properties, acknowledged the current convergence of historic challenges faced by the City and State. These challenges, including a housing crisis, public safety concerns, budget deficits, and a transitioning commercial real estate market, necessitate collaborative efforts with State and local leaders to optimize New York’s desirability as a destination:
“Our City and State face a confluence of historic challenges right now. These include a housing crisis, public safety challenges, budget shortfalls, and a commercial real estate market in transition. We need to work with State and local leaders to do everything we can to make New York the best place to live, work, and visit. We’ve done it before, and I am confident we can do it again. I’ve always said you should never bet against New York; This City and State will come back bigger and better than ever before.”– Larry A. Silverstein, Chairman, Silverstein Properties,Press Release
Meanwhile, Lisa Silverstein, Vice Chair of Silverstein Properties, evoked the company’s longstanding presence in the Hudson Yards/Hell’s Kitchen neighborhood, spanning nearly four decades, referencing the successful construction of 549 affordable homes on West 42nd Street:
“Our company has been part of the Hudson Yards / Hell’s Kitchen neighborhood for nearly 40 years,” said Lisa Silverstein, Vice Chair of Silverstein Properties. “We have already built 549 affordable homes on West 42nd Street and look forward to developing over a hundred more as part of this project. The Avenir is an opportunity to create much needed affordable housing, jobs, and economic development, along with many neighborhood improvements in an isolated and often-overlooked part of the City.”– Lisa Silverstein, Vice Chair, Silverstein Properties,Press Release
And finally, Eric Hausler, Chief Executive Officer of Greenwood Gaming and Entertainment, conveyed its enthusiasm for the partnership with Silverstein Properties to establish a gaming, leisure, and entertainment hub that embodies the distinctive essence and vibrancy of New York City:
“We are excited to join with Silverstein Properties to create a gaming, leisure, and entertainment destination that will reflect the unique character and spirit of New York City, and attract visitors from all over the globe. We are a company with deep roots in our communities. We look forward to working with the Hell’s Kitchen and Hudson Yards communities’ elected, civic, and labor leaders to create something that serves the neighborhood and its residents.”– Eric Hausler , Chief Executive Officer, Greenwood Gaming and Entertainment,Press Release
Greenwood Racing Jumped on Board AGA’s Awareness Campaign in April 2022
Greenwood Racing, owner Parx Casino and BetParx, joined the American Gaming Association’s (AGA) ‘Have a Game Plan. Bet Responsibly.’ campaign in April 2022, reinforcing its commitment to promoting safer gambling practices. With this partnership, the Parx brand aims to raise awareness about responsible gaming through various channels, leveraging its BetParx app and digital platforms.
Since its launch in 2019, the AGA’s ‘Have a Game Plan. Bet Responsibly.’ campaign has emphasized four fundamental principles of responsible sports betting. These principles include setting and adhering to a budget, maintaining a social aspect to gambling, understanding the odds, and engaging exclusively with licensed and reputable operators.
Through their BetParx app and digital channels, Parx will actively engage with their audience, emphasizing the importance of responsible gambling practices and encouraging customers to make informed decisions while enjoying their betting experience. Vice president over at the American Gaming Association (AGA), Casey Clark, claimed the organization was ecstatic at having Parx Casino and BetParx onboard:
“The AGA is thrilled to welcome Parx Casino and BetParx as Have A Game Plan campaign partners. The expansion of legal sports betting options—to 130 million Americans today—reinforces the importance of bringing together as many voices as possible to educate consumers on responsible wagering.”– Casey Clark, Vice President, American Gaming Association (AGA),Press Release
FanDuel Joined Forces with New York Yankees in April 2022
In an exciting development for sports betting enthusiasts, FanDuel Group renewed its partnership with Major League Baseball’s (MLB) New York Yankees in April 2022, solidifying its position as the Official Sports Betting Partner of the team. This multi-year agreement highlights the ongoing collaboration between FanDuel and the iconic baseball franchise, allowing the operator to leverage the New York Yankees’ branding within its sports betting offerings.
As part of the exclusive deal, FanDuel will gain exclusive access to New York Yankees branding, enabling the operator to incorporate the team’s iconic imagery and logos into its products. Mike Raffensperger, CMO of FanDuel Group, drove home the team’s globally recognizable brand and passionate fanbase:
“There is no more globally recognized sports brand than the New York Yankees, and as a New York-based company we’re delighted to remain partners with our hometown team. One of our company values is to be absurdly fan-focused and there is no fanbase more passionate about their team than Yankees fans which makes this a natural fit.”
