Posted on: October 17, 2023, 11:35h.
Last updated on: October 17, 2023, 11:35h.
Caesars Entertainment Leads Consortium Seeking to Open Casino Resort in Times Square
Caesars Entertainment, along with partners SL Green and Roc Nation, is leading a consortium aiming to open a massive casino resort in New York City’s Times Square. The proposal would utilize SL Green’s prominent 1515 Broadway skyscraper, pending approval from state and local officials. Roc Nation, owned by Jay Z, is also part of the project.
In an effort to gain support from local residents and businesses, Caesars and Roc Nation held a free eight-hour lunch and dinner buffet, where attendees were required to hear a pitch explaining the benefits of a Las Vegas-style casino in Times Square.
The buffet took place at The Purple Tongue, a wine bar near Times Square, and featured the presence of rapper Fat Joe, who is signed to Roc Nation. Fat Joe spoke on behalf of Caesars and Jay Z, emphasizing their commitment to New York and the local community.
Promoting the Benefits
Caesars Entertainment is among the numerous contenders for the three commercial casino licenses that will be issued in downstate New York in 2024. These licenses were authorized through a 2013 bill, but a moratorium has delayed their issuance until now.
During the recent buffet event, Caesars representatives highlighted the potential benefits of having a casino in Times Square. The company predicts that a destination casino would lead to $166 million in annual retail spending, a $65 million increase in Broadway ticket sales each year, and an additional 636,000 overnight stays in local hotels.
Furthermore, Caesars has committed to investing $115 million to support diverse theater programs and provide daycare services for Broadway performers, workers, and their families.
Theatre District Opposition
Some members of the Theatre District, including restaurant owner Max Klimavicius of Sardi’s, have voiced their opposition to the casino plan. They argue that the presence of a casino in Times Square would divert business from the area’s restaurants, which are often frequented by theatergoers.
These restaurants are where families gather in joyful, pre-theater anticipation, where dates begin, and where dramas and musicals are discussed over dessert and a nightcap after the curtain comes down. ‘Dinner and a show’ are part of the lexicon of practically every New Yorker and visitor,” Klimavicius wrote earlier this year.
Klimavicius concluded by expressing concern that a casino in Times Square could jeopardize the character of the Theater District and the fate of its restaurants.