Why Vornado's Steve Roth Skipped NYC's Casino License Bidding War

Vornado Realty Trust CEO, Steven Roth, explained the company's decision not to pursue a downstate casino license despite advocating for a Manhattan casino. Roth emphasized the priority of completing leases at the revamped Penn 2 building over the uncertainty of winning a casino license.

Penn 2 Renovation Progress

Vornado has almost finished a $750 million renovation of Penn 2, with major tenants like Madison Square Garden Entertainment and Major League Soccer securing leases. The visible progress in construction marks a significant milestone for the project.

Future of Hotel Penn Site

Roth's letter didn't delve into plans for the former Hotel Penn site, currently referred to as Penn 15. Various interim uses, including tennis courts for U.S. Open matches, are under consideration.