Saks Fifth Avenue has folded its bid for a gaming license, ending the company’s plan of adding a casino atop its Midtown flagship store. As first reported by Crain’s, the department store withdrew its bid for one of three coveted downstate gaming licenses expected to be awarded by the end of the year, with a Saks spokesperson saying the company is now “focused on other strategic priorities.” In recent months, minimal communication between Saks’ parent company, Saks Global, and those involved in the casino process had suggested that the retailer was abandoning its proposal.
The iconic store first revealed its proposal in January 2023, envisioning a casino atop its flagship at 611 Fifth Avenue. The 200,000-square-foot gaming space would have spanned the ninth floor of the 12-story building, currently home to discounted women’s dresses, lingerie, children’s books, and holiday decorations.
A week later, Saks released conceptual renderings of the casino, revealing a red carpet-lined entrance, luxurious interiors, and a rooftop space overlooking Rockefeller Center.
Saks was one of several prominent bidders vying for one of three downstate gaming licenses approved by the New York State Legislature in April 2022. Compared to the other proposals, the Saks casino would have required the least work and could have been completed in just under a year.
However, the proposal faced setbacks from the start. The local community board opposed any casinos in the district, and the building’s location—directly across from St. Patrick’s Cathedral—was seen as problematic due to the landmark status of the church, as reported by The Real Deal.
The proposal never advanced enough to announce a gambling company partnership to operate the casino. Still, lobbyists from Cozen O’Connor continued pitching the plan to city and state officials as recently as last July.
Now, 10 bidders remain in the running for a downstate gaming license. Proposals include New York Mets owner Steve Cohen’s $8 billion “Metropolitan Park” next to Citi Field, the Bjarke Ingels-designed Freedom Plaza near the U.N., “The Avenir” complex across from the Javits Center, a Jay-Z-backed Caesars Palace casino in Times Square, and a proposal in Coney Island.
Cohen’s proposal cleared a major hurdle in March when the City Council voted 41-2 in favor of zoning changes that pave the way for development on the site. Last week, the project team unveiled plans to build a 100-percent affordable housing development on a nearby parking lot in Corona to enhance their bid.
Last month, the Soloviev Group unveiled new renderings of the public waterfront park planned alongside its Freedom Plaza casino proposal. Designed by OJB Landscape Architects, the nearly 5-acre green space would include an 18,000-square-foot central lawn, 1.2 miles of accessible pathways, a children’s play area, scenic overlooks, an amphitheater, and more.
Bidders will be able to submit applications by June 27. Each proposal will face binding votes by six-person committees made up of neighborhood officials, followed by a final decision from a five-person state board, expected before December 1, according to The Real Deal.
Editor’s note: The original version of this article incorrectly named Hudson’s Bay Company as the parent company of Saks. Saks Global, including Saks Fifth Avenue, is separate from Hudson’s Bay Company ULC.
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