Summary
- The 54-story tower is located at the heart of Times Square.
- A casino would attract more visitors to Midtown and encourage spending.
- The property would include a Broadway theater for The Lion King and other amenities.
Times Square would be a perfect location for a New York casino, according to Caesars Entertainment. The company recently signed a deal with SL Green Realty Corp to redevelop an office tower on Broadway. The large space would be home to a new casino as well as dining and entertainment.
In an announcement about the project, Caesars CEO Tom Reeg stated the Caesars is thrilled to be working with its new partner to create a five-star project. Caesars is invested in New York-based restaurant groups, chefs, and entertainers and plans on utilizing such options within the new space.
A casino at Times Square from Caesars Entertainment would be a huge draw for visitors. New York City could see high tax revenues and of course, the property would create thousands of jobs. Visitors would come in from Midtown and spending would help to boost the neighborhood, which has been struggling since the onset of the COVID-19 pandemic.
The new property includes security and traffic updates to the area to accommodate for the venue and influx of traffic it would bring. The casino would not be a Vegas style venue but have a style all its own that represents NYC. The casino will even provide a new Broadway Theater for The Lion King.
Quality Location for an NYC Casino
SL Green and Caesars feel that the Times Square location is ideal for a new casino resort. It would not only attract tourists but also be a benefit to local businesses. Both will be working to obtain one of three gaming licenses up for grabs in the downstate area of New York.
SL Green plans to take an approach that would ensure under-represented communities are able to benefit from employment and investment opportunities. Times Square is already an entertainment area and a casino would only add to the overall entertainment options of the sector.
The Caesars property would be a renovation, so if licensing is obtained, the casino could open much faster than a facility starting from the ground up. The tower would be renovated and opened as quickly as possible to provide gaming and other services like dining, drinks, and shows.
Actors’ Equity is also on board with the plan. The group feels that the proposal will boost security and safety in the area. The group is happy that the developer is working to make a safer neighborhood for art workers and audience members.
About the Author
