But another company has expressed an interest in joining New York's gambling industry by taking part in a chase to win one of the state's three state licenses. Recently, an industry source reported that Saks Fifth Avenue has submitted an official bid for one of the licenses to the state of New York. If approved, the company could open a casino in Manhattan, New York.

In early 2023, the Gaming Facility Location Board in New York was tasked with reviewing bids for downstate casinos, and began requesting applicants. Each applicant must agree to pay at least US$500 million more for each project as well as a minimum license fee of US$500 million. Winners should be announced later this year.

A source close to Hudson's Bay Company, the owner of Saks Fifth Avenue, recently confirmed that he was interested in bringing casinos into Manhattan and said he had already submitted an offer. For the project, the department store will transform the upper floor into a casino and attract visitors and tourists from all over the world, according to the sources.

The source also said the company has invested significant time and energy over the past year in strategic plans to most effectively and positively support experiencing premium casinos at Saks Fifth Avenue. The casino area will total more than 200,000 square feet and include a department store and a separate lobby.

The Saks Fifth Avenue flagship store is also a trademark of one of the most iconic streets in Manhattan, the sources said. The company shared that the store is particularly important and will continue to invest in the vitality and spirit of the department store, but getting one of the three licenses isn't as easy as it sounds.

But in order to get one of the gaming licenses in northern New York, department stores will have to overcome serious competition. Many companies have previously expressed interest, including Thor Equity, Las Vegas Sands, SL Green With Caesars Entertainment, Wynn Resorts, MGM Resorts, Hard Rock and Genting America.

It should be mentioned that Las Vegas Sands unveiled its plans for the casino last week. The project will be located on land currently occupied by the Nazo Veterans Memorial Coliseum. It will include outdoor community spaces, four-star and five-star hotel rooms, premium life entertainment venues, celebrity chef restaurants, hands-on events and venues, conference and convention spaces, and more.

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

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