Wynn Resorts drops bid for NYC casino license

The company said Monday it has become clear through the rezoning process that there are better uses for its capital. Wynn had partnered with Related Companies to develop an integrated casino resort in the posh Hudson Yards neighborhood of Manhattan, where high-end shops and restaurants already draw crowds. Wynn Resorts has surrendered to the inevitability of "years of persistent opposition," according to a company news release. It is the second casino giant this spring to throw in the towel on a New York gaming license. Wynn says "any casino operator" will face stiff opposition for years to come. The company...