A major casino chain and a real estate developer have recently suggested putting a Caesars Palace casino in the middle of New York City’s crowded Times Square. This, of course, has upped the ante in the race for the next casino license in town. The developer, SL Green Realty Corporation, and the gaming giant, Caesars Entertainment, are attempting to rally the local businesses and workers in support of the casino.
The rivalry for casino licenses has been amped up, but the move has also drawn criticism. The responses, for the most part, have been far less than favorable.
When a Caesars casino was planned for Times Square, the two primary groups representing Broadway theaters issued contradictory comments about the effect they believed it would have. Concerns have been raised about how it may alter the theater district’s economy and whether or not it would return Times Square to the dangerous and sordid state it was in the 1970s.
Recently, another major Broadway group, the Shubert Organization, has spoken out against the proposed casino in New York City’s Times Square.
Vice President of Shubert Real Estate Julio Peterson recently said in a podcast that the gaming facility will be “disruptive to theatergoers, and we don’t believe it’s the greatest thing for our region.” Peterson said that he had no problem with the idea of a casino in New York City, just not at Times Square.
Not The Only Option
The Times Square office skyscraper at 1515 Broadway was the subject of an announcement of collaboration between Caesars Entertainment and SL Green Realty Corp on Thursday, October 20. Times Square is not even close to being the sole option for a gaming district in the nation’s most populous metropolis. Still, the rivalry among the casinos there is heating up.
Although SL Green has not disclosed a great deal of information about the project yet, we anticipate that this will alter over the next several months. Recent rumors have been circulating about a premium hotel, high-end eating options, and a casino in the form of a boutique.
In addition to bringing new forms of entertainment, dining, and gambling to Manhattan, the proposed Caesars Palace Times Square development would also have a Broadway theater. In addition, enhancements to the region’s safety and
The call for bids is being managed by a committee comprised of six public servants from both the city and the state. To move forward with a proposal regarding gaming, approval from a minimum of four members of the group is required.