The city that never sleeps may be getting a casino in its most popular district, Times Square.
Home to bright lights, entertainers and street vendors, what would a casino do to the current state of Times Square?
SL Green Realty Corp. (SL Green) and Caesars Entertainment (Caesars) have recently announced a partnership to redevelop 1515 Broadway as a premiere entertainment and gaming destination in Times Square.
As one of the most visited destinations in the world, what would a casino mean for Times Square? It will not only provide billions in tax revenue but will also accelerate New York’s economic recovery through strategic partnerships with area businesses. How will it do this? By utilising its industry-leading loyalty program with 65 million members, Caesars Rewards.
Caesars Rewards members will be able to use their credits at Broadway shows, restaurants, hotels and more. The introduction of the casino will drive more tourists and create thousands of jobs in and around Times Square.
Caesars Palace Times Square
The new casino will be named Caesars Palace Times Square. It will be designed to include a Broadway Theatre for The Lion King, New York’s landmark broadway musical.
The development will also bring Caesars Entertainment’s more than 50 years of excellence in entertainment, food and beverage, and gaming to the heart of New York.
“We believe that Times Square offers the best location for a new resort casino that can attract tourists and benefit local businesses,” said Marc Holliday, CEO of SL Green.
“The proposal from the developer for a Times Square Casino would be a game changer that boosts security and safety in the Times Square neighbourhood with increased security staff, more sanitation equipment, and new cameras. We applaud the developer’s commitment to make the neighbourhood safer for arts workers and audience members alike,” stated Actors’ Equity.
It’s Not Set in Stone
However, a few things could stop the development of a Times Square casino being built.
Wynn Resorts and Related Companies, a real estate development company, are already pushing for a casino to be developed in the Hudson Yards area. There are also bids pending in the Queens and Brooklyn boroughs too.
“There is no assurance that the New York State Gaming Commission will place a casino in Manhattan, let alone Times Square, one of the world’s more complex logistical and economic regions,” The Times said.
Mayor Rudy Giuliani took credit for cleaning up Times Square in the 1990s. Prior to that, Times Square was littered with crime, drug use and peep shows. Many are worried that a new casino will cause it to return to that state.
Talks of developing a casino in Times Square, the heart of New York, are still up in the air. If it were to come to fruition, would you visit the new Caesars Palace Times Square casino?
