Silverstein Properties Taps Rush Street Gaming for New York City Casino Project
Posted on: May 16, 2025, 09:43h.
Last updated on: May 16, 2025, 10:36h.
- Silverstein Properties and Rush Street have partnered on a NYC casino
- The group additionally includes the Parx Casino operator
- The multibillion-dollar scheme is targeting Manhattan’s Far West Side
Silverstein Properties has partnered with Rush Street Gaming for its multibillion-dollar integrated resort casino project on Manhattan’s West Side.
First announced in June 2023, Silverstein Properties, among the world’s best-known real estate developers for its owning of the World Trade Center lease when the buildings were attacked on Sept. 11, 2001, says should it secure one of the three downstate New York casino licenses, Rush Street Gaming would help operate the facility upon completion. Greenwood Gaming and Entertainment, which owns and operates Parx Casino near Philadelphia, is additionally involved in the development.
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,” said Lisa Silverstein, chief executive officer of Silverstein Properties. “Each of our organizations is family-owned, multigenerational, and deeply committed to the neighborhoods in which we work and live.”
Dubbed the Avenir, the scheme is targeting an undeveloped 2.1-acre site just across 11th Ave. from the Javits Center. The property is fully owned by Silverstein.
Chicago-based Rush operates Rivers Casinos in Illinois, upstate New York, Pennsylvania, and Virginia. In addition to Parx Casino in Bensalem, Greenwood manages Parx Casino Shippensburg, also in Pennsylvania.
Bid Details
A release on the Avenir provided to Casino.org explained that the resort details are being finalized by the three partners. A statement on the final plan will “be announced in the near future.”
When Silverstein announced its casino ambitions almost two years ago, the company said it would construct two 46-story hotel towers connected by a sky bridge featuring 1,000 guestrooms. The casino component was to occupy eight stories with 600K square feet of gaming, which would make it among the world’s largest casinos.
The top floor of one of the towers included a 1,000-seat performance hall. Silverstein also pledged 100 affordable housing units located near the project site.
Silverstein’s History
The New York Gaming Facility Location Board is expected to decide which three casino bids gain the coveted $500 million apiece concessions before the year’s end. The crowded bidding pool includes proposals from many marquee gaming firms, including MGM Resorts, Caesars Entertainment, Wynn Resorts, Hard Rock International, Bally’s Corp., Mohegan, Genting, and Saratoga Casino Holdings.
The Avenir’s odds will benefit from Silverstein’s involvement. Recognized for its civic leadership in the rebuilding of the World Trade Center and revitalization of Lower Manhattan, Silverstein Properties’ real estate portfolio is estimated at nearly $20 billion.
Silverstein is privately owned by Larry Silverstein, the 93-year-old who had signed the WTC lease deal with the Port Authority of New York and New Jersey on July 24, 2001, less than two months before the Twin Towers and most of the complex were destroyed during the 9/11 terrorist attacks.
Silverstein used approximately $1 billion in insurance money he collected from the WTC tragedy to help build the $3.9 billion One World Trade Center, which opened in November 2014.
Last Comments ( 1 )
NYC is soooo corrupt. I think if you peel the skin of the onion back you will find all kinds of mold on this deal. My opinion only.