Times Square Casino in the Cards for NYC

Times Square Casino in the Cards for NYC

Las Vegas is coming to New York. The state of New York’s Gaming Facility Location Board has seen fit to review the application for three full-fledged casinos. A Group consisting of multiple entertainment firms has shown interest in opening a casino on Coney Island, which would go a long way in improving the local economy. Meanwhile, Caesars Entertainment has set its sights on Times Square.

Casino Might Be Coming to Times Square

Among America’s most notable and successful hotel and casino chains, Caesars Entertainment operates over 50 properties across the entire country. And it seems that they are currently trying to make a bid for 51. The casino operators have unveiled their desire to open an establishment in New York City. And what place could be better than Times Square, one of the world’s most recognizable destinations?

The plans have been in place since October 20, when Caesars partnered up with SL Green Realty Corp in hopes of redeveloping an office tower at 1515 Broadway. The plans for the casino have already been set in stone, since earlier in the year. Apparently, the establishment will be more than a replica of the Caesars Las Vegas casino. It will feature a bar and restaurant, a theater for live performances, and of course, all the standard games that one can expect from one of Las Vegas’s most famous casinos.

Caesars is the largest casino operator in North America, and an establishment with its name on it in NYC would be great for tourism and traffic. Not to mention, the casino and hotel would provide hundreds of jobs for the locals, giving a boost to the local economy.

But, Caesars isn’t the only gaming operator looking to expand in New York City. The owner of the New York Mets, Steve Cohen has been very coy about the prospect of building a casino next to Citi Field. Reportedly, he has been in talks with Sands to bring a casino to the area, though the idea has been met with quite a bit of resistance. Jena Lanzetta, a community activist opposing the plans had this to say: “We believe that Steve Cohen is trying to create a perception of public support for a vague concept of an “entertainment venue” – but that he may later misrepresent that as support for a casino to be built on the parkland.”

There are quite a few other interested parties, including Resorts World, which has its sight set on the Hudson Yards area. The state of New York has currently approved four licenses, all outside New York City. Each license costs $500 million, though applicants can make a higher bid if they so choose to.

Conclusion

The New York City area could stand to benefit from a Caesars Casino in Times Square. The establishment would draw in a lot more tourism, create jobs, and bolster the local economy. Though at $500 million per license, the price is rather steep, certainly, a big-name brand like Caesars could afford it.

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