Latest news with #RushStreet
Yahoo
21-05-2025
- Business
- Yahoo
World Trade Center developer Larry Silverstein's bid for NYC casino gets a big boost
World Trade Center developer Larry Silverstein strengthened his bid to open a casino on Manhattan's Far West Side with an addition to his team that already has a foothold in the Empire State gaming industry. Silverstein Properties will be joined by gaming operator Rush Street — which operates Rivers Casino and Resort in Schenectady — as it looks to build the Avenir, a casino and 46-story mixed use complex on vacant property at 11th Avenue and 41st Street. 'We are excited to announce our partnership with Rush Street Gaming, as well as Greenwood Gaming and Entertainment to create a home-grown entertainment complex on Manhattan's Far West Side,' founder and chairman Larry Silverstein said in a statement. 'Each of our organizations is family-owned, multi-generational, and deeply committed to the neighborhoods in which we work and live,' he added. '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.' Up to three casino licenses in the New York downstate region are up for grabs and bids are due to regulators by June 27. Rush Street will join Greenwood Gaming, which operates two casinos in Pennsylvania. 'We greatly admire what Silverstein Properties has accomplished in terms of developing important projects in New York City,' said Tim Drehkoff, CEO of Rush Street Gaming. 'Our past projects in Pittsburgh, Philadelphia and Schenectady were each the first destination casinos in their respective cities, and we look forward to working with Silverstein, Greenwood and the Far West Side community on the Avenir.' The Avenir project site is located on 92,000 square feet of vacant space just north of the Jacob Javits Convention Center that is fully owned and controlled by Silverstein and is shovel-ready upon approval, according to the company. Building the complex is projected to create 4,000 union construction jobs and more than 5,000 permanent union jobs when completed, according to the developer. There is stiff competition for the three casino licenses. To the south for example, Related Companies/Wynn Resorts has proposed a massive $12 billion casino complex to build in Hudson Yards. There are other casino proposals pitched at sites in Times Square, by the East River waterfront, and in Queens by Citi Field, The Bronx and Coney Island, Brooklyn. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
New York Post
15-05-2025
- Business
- New York Post
World Trade Center developer Larry Silverstein's bid for NYC casino gets a big boost
World Trade Center developer Larry Silverstein strengthened his bid to open a casino on Manhattan's Far West Side with an addition to his team that already has a foothold in the Empire State gaming industry. Silverstein Properties will be joined by gaming operator Rush Street — which operates Rivers Casino and Resort in Schenectady — as it looks to build the Avenir, a casino and 46-story mixed use complex on vacant property at 11th Avenue and 41st Street. 'We are excited to announce our partnership with Rush Street Gaming, as well as Greenwood Gaming and Entertainment to create a home-grown entertainment complex on Manhattan's Far West Side,' founder and chairman Larry Silverstein said in a statement. 4 Silverstein Properties has partnered with gaming operator Rush Street, which operates Rivers Casino in Schenectady. Tamara Beckwith 'Each of our organizations is family-owned, multi-generational, and deeply committed to the neighborhoods in which we work and live,' he added. '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.' Up to three casino licenses in the New York downstate region are up for grabs and bids are due to regulators by June 27. Rush Street will join Greenwood Gaming, which operates two casinos in Pennsylvania. 'We greatly admire what Silverstein Properties has accomplished in terms of developing important projects in New York City,' said Tim Drehkoff, CEO of Rush Street Gaming. 4 The casino is proposed for Manhattan's Far West Side, 41st Street and 11th Avenue. Joe Woolhead 'Our past projects in Pittsburgh, Philadelphia and Schenectady were each the first destination casinos in their respective cities, and we look forward to working with Silverstein, Greenwood and the Far West Side community on the Avenir.' The Avenir project site is located on 92,000 square feet of vacant space just north of the Jacob Javits Convention Center that is fully owned and controlled by Silverstein and is shovel-ready upon approval, according to the company. Building the complex is projected to create 4,000 union construction jobs and more than 5,000 permanent union jobs when completed, according to the developer. 4 Real Estate developer Larry Silverstein stands in the lobby of the 3 WTC tower on August 8, 2024. Tamara Beckwith 4 Building the complex is projected to create 4,000 union construction jobs and more than 5,000 permanent union jobs when completed, according to the developer. Joe Woolhead There is stiff competition for the three casino licenses. To the south for example, Related Companies/Wynn Resorts has proposed a massive $12 billion casino complex to build in Hudson Yards. There are other casino proposals pitched at sites in Times Square, by the East River waterfront, and in Queens by Citi Field, The Bronx and Coney Island, Brooklyn.
Yahoo
19-02-2025
- Business
- Yahoo
Rush Street Colombia tax impact should be modest, says Jefferies
Jefferies analyst David Katz says Rush Street Interactive's (RSI) regulatory filing regarding Colombia's Presidential decree instituting a 19% value added tax on player deposits 'highlights the volatility and political risk inherent' in the Latin America gaming space. However, the firm views the potential impact to Rush Street as 'specifically modest.' In addition, the prospects are reasonable that the decree is either short term or not instituted at all, the analyst tells investors in a research note. Jefferies believes the decree should not overshadow the other positives in Rush Street's story, 'which mitigate a prospective negative reaction.' It keeps a Buy rating on the shares with a $17 price target The stock in morning trading is down 4% to $16.06. See what stocks are receiving strong buy ratings from top-rated analysts. Filter, analyze, and streamline your search for investment opportunities with TipRanks' Stock Screener. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on RSI: Rush Street faces potential impact from Colombian VAT news, says Benchmark Minnesota sports betting bill doesn't advance, Covers' Butler reports New Jersey reports $168.7M in total wagers on Super Bowl LIX, up 19% Nevada says $151.6M wagered in state's sports books on Super Bowl Nevada reports December statewide gaming win up 2.0% to $1.46B Sign in to access your portfolio
