Tom Reeg: Caesars Palace Times Square Is a “Worthwhile Prize”

Tom Reeg, Caesars Entertainment’s chief executive officer, provided some interesting insights into his company’s plans for a Times Square casino. In an interview with Tara Rosenblum, a News 12 senior reporter, Reeg talked about what will make the property so special.

Caesars’ bid for a Times Square casino comes as New York plans to provide three casino licenses to the companies that come up with the best and most reliable projects. Reeg took a walk with Rosenblum, showing her the property he plans to use for the future casino. This is notably the first time Caesars has decided to openly discuss the project.

Reeg said that securing a New York license would be the biggest opportunity for his company ever. Caesars Palace Times Square, the company’s planned property, will be located in an existing 52-story skyscraper. It will have a gaming area of around 250,000 square feet, as well as 950 hotel rooms.

Reeg took Rosenblum to the site and told her that he feels there is a lot of untapped energy in the area. He revealed that the property will have luxurious terraces with food and beverage bars, overlooking Times Square. Reeg specified that there will be no gaming on the ground floor – all the casino experience will be on the upper floors instead.

The Property Would Offer Unmatched Experiences

Rosenblum asked Reeg about his revenue projections for the property. While the CEO was unable to provide an exact figure, he noted that the company already pays “north of $100 million in taxes” to New York through sports betting. The casino revenue, he believes, will be much higher.

The senior reporter also addressed Caesars’ recent partnership with Jay Z. According to Reeg, the celebrity was a perfect fit for a partner in the New York project.

Rosenblum noted that some of Caesars’ critics have slammed the casino project because they feel that it will make an already congested area less safe and more crowded. However, Reeg answered that Caesars has already considered a variety of safety and traffic plans.

We have traffic consultants all ready with plans where we would reduce the congestion in Times Square from where it is today … And I think if opponents take the time to sit down and hear what we’re planning, what my experience has been, is they walk away with a different opinion.

Tom Reeg, CEO, Caesars Entertainment

Finally, Rosenblum asked Reeg to reveal something Caesars has never publicly disclosed about the project. To this, the CEO replied that Caesars Palace Times Square would offer an “unbelievable sportsbook experience” to customers. Thanks to this and the partnership with Jay Z, the property will offer experiences that are truly unmatched, Reeg said.

You can see the full interview on News 12.