Related Companies CEO: Our proposal is for much more than a casino

N FOR PHASE TWO OF THIS WHOLE MAMMOTH DEVELOPMENT. >> HUDSON YARDS IS AN ENGINEERING MARVEL. ALL OF THIS IS ACTUALLY BUILT OVER THE RAILROAD TRACKS, GOING TO PENN STATE. SHEN ESSENTIALLY, IT IS A LARGE PLATFORM. NOW IT WANTS TO DO THE SAME THING WITH THE RELATE REMAINING RAILROAD YARDS. ONLY THIS TIME, IT COULD BE TURNED INTO A CASINO. >> WE DECIDED THAT WE WOULD PROPOSE FOR THE WESTERN RALLY ARTS, FOR THAT TO BE OUR ANCHOR BUILDING. NOT THE WHOLE, YARD BUT THE YOUNGER BUILDING. SO WE WENT THROUGH THE PROCESS TO PARTNER WITH, WE MET ALL OF THE OPERATORS AND ULTIMATELY DECIDED THAT THE BEST OPERATOR FOR US WOULD BE WHEN RESORTS. SO, TOGETHER YOU HAVE THE ABSOLUTE TOP BEST IN CLASS GAMING OPERATOR, RESORT OPERATOR, AND WHEN. AND HOPEFULLY THEY THINK THE BEST IN CLASS DEVELOPER IN RELATED. AND YOU PUT THOSE THINGS TOGETHER AND WE WILL CREATE THE NUMBER ONE DESTINATION GAMING AND RESORT CASINO IN THE ENTIRE WORLD. >> NOW, THAT IS. COME ON, MACAU, HONG KONG? >> AND I TELL, YOU THAT IS NOT JUST A CASINO. IT IS MUCH MORE THAN A CASINO. THIS IS GOING TO BE A RESORT. LIKE NEW YORK HAS NEVER SEEN BEFORE. SO IT WILL HAVE, OBVIOUSLY IT WILL HAVE GAMING. BUT THAT IS ACTUALLY ONLY 5% OR SO OF THE SQUARE FOOTAGE. WE WILL PROBABLY HAVE 15 TO 20 DIFFERENT RESTAURANTS. A NIGHTCLUB, THEATER, 1500 HOTEL ROOMS, THIS IS GOING TO BE A PLACE WHERE PEOPLE COME FROM AROUND THE WORLD. REMEMBER, NEW YORK CITY IS THE CENTER OF THE WORLD. PEOPLE ARE GOING TO COME FROM EVERYWHERE TO SEE THIS. AND WHAT WE ARE GOING TO DO HERE, IS NOT JUST THIS RESORT. BUT IT ACTUALLY KICKS OFF, AS YOU, SAW THE ENTIRE WESTERVILLE YARDS WHICH WILL ALSO HAVE A 2 MILLION SQUARE FOOT OFFICE BUILDING, 1 MILLION SQUARE FEET OF RESIDENTIAL. FOR DOUBLE HOUSING, AS YOU MENTIONED. A NEW SCHOOL, OPEN SPACE, AND INTERESTINGLY, THIS WILL BE CONNECTED TO JAVITS CONVENTION CENTER. AND IF YOU THINK ABOUT JAVITS, JAVITS IS A GREAT CONVENTION CENTER. THE STAGES SPENT TWO BILLION DOLLARS EXPANDING IT. BUT IT IS ONE OF THE FEW LARGE URBAN CITY CONVENTION CENTERS THAT DON'T HAVE A CONVENTION HOTEL TIED TO IT. SO THIS WHEN RESORT WILL BECOME THAT CONVENTION HOTEL FOR JAVITS. >> BACK EAST OF 11TH AVENUE, RELATE TO IT IS WORKING ON WHAT TO DO WITH THE VESSEL. THE COMPANY HAD TO CLOSE ITS ICONIC TOURIST ATTRACTION AFTER SEVERAL TOUGH BY SUICIDE. JEFF BLOUGH TOLD ME, WHAT'S NEXT. >> WE ARE GOING TO REOPEN THE VESSEL. WE REALLY BUILT A VESSEL TO BE SOMETHING THAT WOULD ATTRACT PEOPLE TO HUTSON YARDS FROM ALL AROUND THE WORLD AND MAKE IT SOMEPLACE SPECIAL. NOT JUST A PIECE OF OUR, BUT INTERACTIVE SO THAT PEOPLE COULD EXPERIENCE IT, COULD CLIMB A, BIT FEEL, IT LOOK AROUND. AND WHEN IT WAS OPEN, IT REALLY ACCOMPLISHED THAT. IT WAS ACTUALLY FOR A LONG TIME THE NUMBER ONE MOST INSTAGRAM APPEAL PLACE AND ALL OF NEW YORK CITY. THE VESSEL. UNFORTUNATELY, WE HAD SOME INCIDENTS THAT WE HAD TO TEMPORARILY CLOSE IT. BUT WE ARE WORKING ON SOME SAFETY ENHANCEMENTS, AND WE WILL REOPEN. >> OFFICE BUILDINGS AND GAMING IS JUST ONE OF PART OF RELATED. THE COMPANY ALSO HAS EXTENSIVE ENERGY INTERESTS WHICH IT IS KEEN TO GROW. FOR INSTANCE, AND ENERGY TRANSMISSION PIPE FROM RENEWABLE SOURCES THAT WILL COME FROM UPSTATE NEW YORK, ACROSS THE HUDSON RIVER, AND GO OUT TOWARDS QUEENS. >> IT IS ONE OF THOSE FACTORS TODAY WHERE YOU REALLY HAVE THE WIND AT YOUR BACK. OBVIOUSLY THE GOVERNMENT PASSED THE I.R.A. BILL, WHICH PROVIDES INCREDIBLE SUBSIDIES AND BENEFITS FOR DEVELOPERS. AND SO WE REALLY DO THINK THIS IS AN INCREDIBLE GROWTH AREA. IN THE FUTURE FOR THIS COUNTRY. >> HOW MUCH OF THIS IS, FOR WANT TO RECRUIT PHRASE, PROFITED INVESTMENT? AND HOW MUCH BECAUSE YOU THINK IT'S THE RIGHT THING TO DO FOR THE FUTURE. >> IT'S A LITTLE BIT OF BOTH. YOU CAN'T BE IN THE SPACE AND THINK IT'S NOT CRITICAL FOR THE FUTURE OF THE EARTH. BUT IT IS ALSO GONNA BE A VERY PROFITABLE BUSINESS. >> BECAUSE, IN DAVOS I WAS CHAIRING CONFERENCES ON CLIMATE FINANCE. AND THE SORT OF THING YOU ARE TALKING ABOUT IS EXACTLY THE ISSUE OF, WHERE DOES THE FINANCE COME FROM, WHO JUST A BUILDING, HOW DOESN'T OPERATE. WHICH IS, AS OPPOSED IT IS RELATIVELY NOT EASY, BUT RELATIVELY STRAIGHTFORWARD IN A SOPHISTICATED MARKET LIKE THE U.S.. >> WELL, WHAT'S INTERESTING IS THERE IS A LOT OF OVERLAP IN EXPERTISE AND SKILL SETS FROM THE REAL ESTATE BUSINESS INTO THE LARGE-SCALE INFRASTRUCTURE REQUIRED FOR RENEWABLE ENERGY DEVELOPMENT. AND SO, WE BRING TO THIS THE SECTOR AND UNUSUAL SET OF SKILLS. >> SO, IS THERE AN AREA THAT YOU WOULDN'T WANT REALLY TO TO GET INTO? BUILDING AND DEVELOPMENT, TRANSMISSION AND YOU. PICKETT. IN THE FUTURE, HOPEFULLY NEAR FUTURE, CASINOS, HOTELS, RESORTS. WHAT WOULD YOU NOT TO? >> WHAT WOULD WE NOT DO. I WOULDN'T INVEST IN COAL AND FOSSIL FUELS, AS YOU JUST MENTIONED RIGHT NOW. WE TRY TO USE THE EXPERTISE THAT WE HAVE. ALL THESE PLACES THAT WE GO INTO, IT GOES BACK TO OUR CORE OF EXECUTION CAPABILITY. I THINK WE'VE BUILT THE ABSOLUTE BEST TEAM HERE AT REAL