A plan worth billions to build a casino in Times Square has failed, dealing a big blow to developers who wanted to set up a gambling resort in Manhattan’s center.
Broadway Comes Out on Top in Fight Against Times Square Casino
The Caesars Palace Times Square project, valued at $5.4 billion and supported by SL Green Realty, Caesars Entertainment, and Roc Nation, did not get approval on September 17. A Community Advisory Committee made up of six members chosen by city and state officials turned down the proposal with a 4–2 vote, reported The New York Times. The plan got support from the representatives of Governor Kathy Hochul and Mayor Eric Adams.
The loss comes after a long period of growing resistance from Broadway producers, theater owners, and neighborhood supporters. Those against the plan said a casino would damage the cultural heart of Times Square, worsen traffic, and raise safety issues. The Broadway League, speaking for theater interests, led the most noticeable fight against the project. Its head, Jason Laks, stated the result protected the jobs of many thousands of New Yorkers and kept Broadway as a world-famous spot.
Supporters of the casino presented it as a driver of economic growth, promising almost $23 billion in gambling revenue over ten years, thousands of jobs, and billions in taxes for the state and city. The plans also included a high-end hotel, restaurants run by famous chefs, entertainment spots managed by Roc Nation, and beefed-up security measures. Despite these promises, opponents were not sold on the idea that the project could work alongside the already overburdened infrastructure of Midtown.
SL Green and Roc Nation Slam Decision Makers
The advisory vote caused strong reactions from developers. SL Green’s CEO Marc Holliday slammed the committee’s choice, claiming members denied the city major financial and job gains. Roc Nation leaders also blasted local politicians, hinting many lacked the foresight to grab what they called a game-changing chance. Caesars Entertainment, though disappointed, said it would keep looking into future projects in New York.
The Times Square proposal was not the only plan that failed that day. The committee also turned down The Avenir, a $7 billion project for the Far West Side spearheaded by Silverstein Properties and Rush Street Gaming. This plan included a casino, a hotel with 1,000 rooms, and promises to build new housing. However, it faced the same criticisms about traffic, safety, and its effect on the neighborhood.
After both proposals hit a wall, one potential Manhattan casino project is still standing: Freedom Plaza, a big development planned close to the United Nations. Six other proposals outside Manhattan are still in the running, including bids in Queens, Brooklyn, the Bronx, and Yonkers.
We will know by the end of the year which projects will get one of three downstate casino licenses.For the time being, Times Square‘s bright lights will keep shining on Broadwayshows instead of slot machines. Theater groups see this as a win, as they had raised concerns that a casino would pose a threat to the city’s cultural core.