New York

Caesars, Developer SL Green Join Forces

Video slot machines at Caesars Palace in Las Vegas, Nevada.

George Rose | Getty Images

developer SL Green Realty We work with casino operators caesars entertainment The companies announced Thursday plans to bring a casino to New York’s Times Square.

The partners said the proposed project would redevelop the Times Square Building 1515 Broadway into Caesars Palace Times Square and include a Broadway theater that would be home to The Lion King and other entertainment attractions.

They also promised that the development would not only “accelerate the economic recovery of surrounding businesses” in Times Square, but “create well-paid union jobs for New Yorkers.”

In April, New York State approved up to three full-service casinos in downtown New York. Two licenses could be granted to existing casino operators: Resorts World Racetrack Casino in Queens and Empire City Casino at Yonkers Raceway to the north. Bronx.

Now, Caesar’s bid for a third license is intensifying, with affiliates and affiliates bidding for nearby Hudson Yards casinos. Wynn Resorts.

“We believe Times Square provides the perfect location for new resort casinos that can attract tourists and benefit local businesses. We guarantee you will benefit from both sides of the opportunity.” SL Green, statement.

Holliday added that because the project is a renovation rather than a new build, it could open sooner than other proposed facilities, without changing the law or causing disruption to the community.

In 2013, New York voters approved a constitutional amendment granting the state seven full-scale casino licenses. Her four of them were assigned to the Upstate, and his remaining three to the New York City area. The approval process is expected to be lengthy and expensive, with the license costing at least $500 million.

According to SL Green and Caesars Entertainment, Caesars Palace Times Square is 100% privately funded, with Caesars controlling the casino’s operations and brand. Caesars, Developer SL Green Join Forces

Back to top button