(Bloomberg) -- Wynn Resorts Ltd. and partners including Related Cos. unveiled new details of a proposed $12 billion development that will include a casino-resort in New York City’s Hudson Yards.
Their plan includes a resort casino with a 1,500-room hotel, casual and fine dining, a spa, event spaces and a public-art showcase.
The project, proposed for the area above the yards, also calls for 1,500 housing units, a public school and a park with over 300 trees, the companies said Wednesday.
Wynn is partnering on the project with Related and Oxford Properties Group. It will involve 35,000 union construction jobs and 5,000 permanent positions.
Wynn is competing for one of three new casino licenses expected to be handed out by the end of 2025 for the greater New York area. The opportunity has drawn multiple interested parties, including Caesars Entertainment Inc., Las Vegas Sands Corp. and New York Mets owner Steve Cohen.
Wynn shares were down 2.6% to $75.06 as of 3:33 p.m. in New York.
(Updates with stock trading in final paragraph.)
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