Monday, December 5 2022

By Will Feuer

Caesars Entertainment Inc. and real estate developer SL Green Realty Corp. said they were pursuing a New York gambling license that would allow them to redevelop a Times Square site into a resort casino.

The companies said the project would bring billions in tax revenue to New York and New York State and help accelerate the economic recovery of the city’s downtown district.

SL Green and Caesars said they also offer “significant safety and traffic improvements”. New York City and state politicians have come under fire in recent months for citywide security concerns.

Caesars Palace Times Square, which would be developed at 1515 Broadway, the current headquarters of Paramount Global, will be designed to include a Broadway theater for The Lion King, the companies said.

“The development will also bring over 50 years of Caesars Entertainment’s globally recognized excellence in entertainment, dining and gaming to New York City to deliver a premier experience that will be authentic and complementary to The Times Entertainment District. Square,” the companies said.

New York State lawmakers have agreed to award up to three licenses for casinos in New York’s five boroughs, Long Island or the lower Hudson Valley, which has stimulated proposals from a number of game companies.

Write to Will Feuer at [email protected]


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