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Sachs Fifth Avenue Joins Downstate License Competition

But another company has expressed its intention to join New York’s gambling unit by participating in the pursuit of one of its three Downstate licenses. Recently, industry sources reported that Sachs Fifth Avenue has submitted an official bid to New York State for one of its licenses. If approved, the company could start a casino business in Manhattan, New York.

In early 2023, New York’s gaming facility location committee, tasked with reviewing bids for Downstate Casino, launched requests for applicants. Applicants must agree to pay at least US$500 million in licensing fees for their respective projects, as well as invest at least US$500 million more. Winners should be announced later this year.

A source close to the Hudson’s Bay Company, owner of Sachs Fifth Avenue, recently confirmed the company’s interest in attracting casinos in Manhattan and already submitting proposals. According to the source, for the project, the department store will convert the upper floor into a casino and attract visitors and tourists from all over the world.

The source also shared that over the past year, the company has invested significant time and energy in strategic planning to most effectively and positively enhance the premium casino experience on Saks Fifth Avenue. The casino area will collectively stretch over 200,000 square feet and include a department store and a separate lobby.

In addition, sources said the Saks Fifth Avenue flagship store is a trademark of one of Manhattan’s most iconic streets. The company shared that the store is particularly important and that it will continue to invest in the vitality and spirit of the department store. But getting one of the three licenses is easier said than done.

But in order to get a hold of one of the game licenses for the northern part of New York, department stores will have to overcome serious competition. Previously, many companies have expressed interest, some of which include Thor Equity, Las Vegas Sands, SL Green With Caesars Entertainment, Wynn Resorts, MGM Resorts, Hard Rock, and Genting America.

It should be noted that Las Vegas Sands revealed its casino plans last week. The project will be located on land currently occupied by the Naw Veterans Memorial Coliseum. Outdoor community spaces, 4-star and 5-star hotel rooms, premium life entertainment venues, celebrity chef restaurants, experience events and venues, meetings and convention spaces will be included.

Meanwhile, bids from Caesars Entertainment and SL Green, which include Rock Nation, gained some momentum with local support. Their Times Square project is currently supported by theater workers, musicians, small business owners, hotel operators and construction unions.

BY: 안전한 파워볼사이트

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