Saks Fifth Avenue is throwing its hat in the ring for a coveted license to open one of New York City's first casinos. A source close to Hudson's Bay Company, owner of Saks, confirmed to Insider on Saturday that the company has officially placed a bid for one of the city's three available licenses, which would allow the luxury department store to build and operate a full-scale casino.
Per the source, the plan involves converting upper floors"currently used as a swing space" to develop the casino, intended to"attract visitors and tourists from around the world seeking that luxurious, Manhattan experience." "We have invested significant time and energy over the last year in building a strategic plan to most effectively and positively enhance our Saks Fifth Avenue experience with a luxury, high-end casino," the source said.
The area is expected to include the top three floors of the store, comprising a collective 200,000 square feet, and the casino would include a separate lobby from the department store,"The Saks Fifth Avenue flagship store is a staple of one of the most iconic streets in Manhattan," the source told Insider."It is of particular importance to us that we continue to invest in the vibrancy and spirit of Fifth Avenue itself.