News Summary
Developers have unveiled plans for a $5.4 billion casino hotel in Times Square, projected to create around 3,800 jobs. The Caesars Palace Times Square initiative includes a luxury hotel and aims to address community concerns while facing significant opposition. Key stakeholders are working to ensure local needs are met through safety investments and job fairs for workers in the theater industry. The New York State Gaming Commission is expected to decide on the application soon.
New York City – Developers have proposed a $5.4 billion casino development in Times Square, aiming to create approximately 3,800 permanent jobs. The proposed project, presented at a public hearing on Wednesday, includes a luxury hotel, a rooftop park, various amenities, and a commitment to invest in the surrounding community. However, the initiative faces significant opposition, primarily from a coalition of local community members who are concerned about potential increases in crime and congestion.
The casino, called Caesars Palace Times Square, is a joint venture involving SL Green Realty, Caesars Entertainment, Roc Nation, and Live Nation. The plan aims to convert an existing office building at 1515 Broadway, which currently houses the Minskoff Theatre, into a casino and hotel. The project has filed an official application with the New York State Gaming Commission, which is expected to make a decision by the end of the year. This casino bid is part of a broader initiative by New York state to approve three new casinos in the city, with eight applications in total submitted for consideration.
A coalition known as No Times Square Casino has emerged to oppose the development, highlighting concerns about the potential negative impacts on the local environment and traffic conditions. Distinguished members from the theater community, such as Jason Laks, president of The Broadway League, Leah Okin, business representative for Theatrical Wardrobe Union Local 764, and Mark Jennings, executive director of Project Find, have voiced their opposition, citing worries about increased chaos in an already bustling area.
In response to the opposition, Caesars Palace Times Square is working diligently to address community concerns. The developers have pledged to host monthly job fairs focused on providing opportunities exclusively for members of the Actors’ Equity Association and the American Federation of Musicians Local 802, ensuring roles such as table games dealers, bartenders, and concierges fit the flexible schedules of Broadway performers and stage managers. Supporters argue that this project will deliver stable job opportunities for industry workers who have faced unprecedented challenges during recent economic hardships.
Furthermore, there is a commitment to invest significantly in the theater district, promising $80 million dedicated to a public safety plan that includes the installment of more than 400 cameras and dedicated security personnel. An additional $20 million is earmarked for providing Broadway theatre tickets to underserved families, demonstrating a collaborative approach to engaging with the community rather than competing with existing businesses.
The project also includes a $22.5 million commitment to support the Manhattan Plaza affordable housing complex, further illustrating the developers’ intent to positively impact the local area. Notably, Caesars Palace Times Square plans to operate without retail space, and the casino will occupy less than 30% of the building’s overall space, which aims to alleviate some concerns related to congestion.
Despite the developers’ efforts to foster local support, the casino proposal faces scrutiny, especially after the New York City Council recently denied Bally’s necessary approval for their casino initiative, indicating the contentious atmosphere surrounding new gaming developments in the city. While the project has garnered backing from prominent figures like Jay-Z, significant resistance remains from community activists who worry that the casino could exacerbate existing problems in the iconic Times Square district.
As the decision date from the New York State Gaming Commission approaches, the future of the Caesars Palace Times Square project remains uncertain. The developers continue to navigate the complexities of local concerns while emphasizing their commitment to corporate responsibility and community engagement within New York’s vibrant theater landscape.
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Additional Resources
- Playbill: Proposed Times Square Casino to Offer Monthly Job Fairs
- Wikipedia: Casino
- World Casino Directory: Jay-Z Lends Star Power to Caesars Times Square Casino Bid
- Google Search: Caesars Palace Times Square
- NBC New York: Times Square Casino Proposal
- Encyclopedia Britannica: Casino
- CDC Gaming: Theater Community and Local Nonprofits to Oppose Times Square Casino Proposal
- Google News: Times Square Casino Proposal
