Hard Rock International, the gaming arm of Florida’s Seminole Tribe, is evaluating trey sites on which it could mayhap build an integrated resort hotel in New York City.
Chairman Jim Allen Stewart Konigsberg made those remarks inwards a Th question with the Associated Press, though he didn’t place specific locations. He told the tidings agency the hotel Hard John Rock is gap on 48th Street, which is precious at up to $500 jillion and slated to debut in April, isn’t single of tercet sites the operator is considering for a gaming venue.
You get to feature a footmark of real demesne large sufficiency to take reward of the sizing of the market,” he told the AP. “We’re extremely proud of our hotel on 48th Street, but its step is just now non big enough for gaming.”
Allen said Hard John Rock would pass $2 one million million to grow a New House of York City gambling casino if it’s selected as the winning bidder. Policymakers inward the nation are mulling awarding three downstate gambling casino licenses. However, MGM Resorts’ Empire City in Yonkers and Genting Group’s Resorts World New House of York City inwards Queens have got been operating as slots-only venues since 2006 and 2011, respectively, indicating they’re potential to secure two of the ternion licenses, signification only ane allow would remain.
Hard John Rock Faces Fierce Competition
Owing to New York’s status as the largest metropolis inwards the US and a dearth of opportunities inwards this land for operators sounding to grow new, high-end gaming venues, Hard Rock faces intense rivalry from commercial-grade rivals in following of a New House of York license.
Bally’s (NYSE:BALY), Las Vegas Sands (NYSE:LVS), and Wynn Resorts (NASDAQ:WYNN) are reportedly interested inwards New York as well. Of that group, Bally’s and Wynn haven’t publicly confirmed they need inward on the Big Apple. But the fact remains there’s potential simply ane unexampled licence to be had in the city, and that competition will enticement some of the industry’s biggest names.
For its part, Hard John Rock has the financial resources to contend on bountiful stages. Last December, the tribal gaming giant said it’s paying $1.075 1000000000000 to buy the operating rights of the Mirage on the Las Vegas Strip from MGM.
Allen Allays Cannibalization Fears
Hard John Rock also owns a stakes inwards the Meadowlands inwards northern New Jersey, and he told the AP a gambling casino externalize on that point is noneffervescent on the table. That would follow inward add-on to a New House of York City venue, assuming the operator wins that license.
The keep company already possess an eponymic locale inward Atlantic City, which could stoke concerns that holding would follow vulnerable to cannibalization if Hard Rock opens another gambling casino inward New Jersey and/or New York.
In the AP interview, Grace Ethel Cecile Rosalie Allen doesn’t running game off from that issue. But he notes in that location are opportunities for synergies, including marketing of marquee events inwards Atlantic City to patrons of the theoretical Hard Rock venues at the Meadowlands and inwards New York.