Introduction to the Times Square Casino Proposal
A proposed Caesars Palace casino in Times Square, backed by Jay-Z, has lost its bid for a lucrative New York City-area gambling license. The state-commissioned community advisory committee rejected the $5.4 billion plan to redevelop an office tower into a Caesars-branded hotel, gambling, and entertainment complex.
The Proposal and Its Backers
The Times Square casino developers, which included the hip hop mogul’s Roc Nation company, proposed renovating an office tower at 1515 Broadway that currently houses the Minskoff Theatre, home of the long-running “The Lion King” musical. Developers envisioned the Caesars-branded gambling hall becoming one of the world’s preeminent resort casinos and had lined up other influential backers, including Rev. Al Sharpton and former NYPD Commissioner Bill Bratton.
Opposition to the Proposal
Broadway theater owners, producers, and labor unions strongly opposed the plan, staging boisterous protests in the Crossroads of the World and packing community hearings in recent months. The Broadway League, a trade group representing America’s performing arts theaters, argued that the proposed casino would draw patrons away from neighborhood businesses and threaten a theater industry still reeling from the COVID-19 pandemic.
Counterarguments from Jay-Z and Other Backers
Jay-Z and other casino backers countered that the casino wouldn’t “compete with Times Square,” but “complement it.” In a recent interview with City & State, a publication covering state and local politics, Jay-Z said the proposal purposefully did not have space for retail in order to encourage visitors to patronize Broadway’s shows, restaurants, and shops. The casino developers also promised to invest $250 million in community projects, including a public safety plan designed by Bratton and a multimillion-dollar civil rights museum endorsed by Sharpton.
Other Casino Proposals in the Running
The eight casinos currently in the running for a state license have to secure local board approval by the end of the month. None of them are in New York City. Two other casinos are proposed for Manhattan: one on its West Side near the Jacob K. Javits Convention Center and another on its East Side near the headquarters of the United Nations. Also in the running is a Bally’s casino on a public golf course in the Bronx that was once run by President Donald Trump’s company.
Conclusion
The rejection of the Times Square casino proposal marks a significant setback for Jay-Z and other backers. However, the casino race is far from over, with several other proposals still in the running. The state Gaming Commission is expected to conduct its own review before awarding up to three licenses in December. As the process unfolds, it remains to be seen which proposals will ultimately be successful and what impact they will have on the New York City area.
FAQs
- Q: What was the proposed Times Square casino project?
A: The proposed project was a $5.4 billion plan to redevelop an office tower into a Caesars-branded hotel, gambling, and entertainment complex. - Q: Who were the backers of the proposal?
A: The proposal was backed by Jay-Z’s Roc Nation company, as well as other influential figures such as Rev. Al Sharpton and former NYPD Commissioner Bill Bratton. - Q: Why was the proposal rejected?
A: The proposal was rejected due to fierce opposition from Broadway theater owners and producers, who were worried about its potential impact on the theater district. - Q: What other casino proposals are still in the running?
A: Several other proposals are still in the running, including two other casinos proposed for Manhattan, a Bally’s casino on a public golf course in the Bronx, and a Hard Rock casino proposed next to Citi Field in Queens.
