Vornado Realty Trust is cashing out in its quest for a casino license in Manhattan.
During the company’s third-quarter earnings call, Vornado CEO Steven Roth said the company would focus its efforts on office leasing in the Penn District rather than competing in the crowded field for one of only three available downstate casino licenses.
“It’s highly likely that we will not pursue a casino license,” Roth said Tuesday during a quarterly call. News of Vornado’s decision to fold its hand was first reported in Crain’s New York Business.
