Times Square Casino Plan Draws Support From Local Businesses

Article by : Erik Gibbs Dec 28, 2023

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Last week, the Coalition for a Better Times Square, comprising nearly 75 businesses in and around the iconic Times Square, endorsed the prospect of various business enterprises obtaining legal approval to operate a casino operation.

These included Caesars, Roc Nation led by Jay Z, and SL Green Realty Company. Initiated by SL Green Realty over twelve months ago, the coalition unified support from over 70 entities in New York. This feat, in itself, is considered a win already.

Aby Rosen, co-founder and principal of RFR and a coalition member, highlighted that Times Square symbolizes the cultural vibrancy and positive spirit of New York City.

Rosen mentioned that it rightfully holds the title of the crossroads of the world, serving as a focal point for both domestic tourists and international travelers. Additionally, it stands as a recreational hub for residents of all five boroughs.

Rosen, who owns the Paramount Hotel in Times Square, emphasized that no other location in the city is as fitting as Times Square for inaugurating the gaming industry, considering its status as the premier tourist destination and a hub for entertainment, hospitality, retail and transportation.

Charlie Rosenberg, representing The Paramount Building at 1501 Broadway, a significant neighbor to the proposed casino site, expressed thoughtful consideration for the bid’s impact on the neighborhood.

Rosenberg, in a statement, emphasized that as they delved into the details, the significance of the opportunity became increasingly evident.

This chance to invest in the future of Times Square, according to Rosenberg, is seen as a rare occurrence that could significantly enhance the quality of life for the local community.

The prospect of casino operations established in Times Square is not a concept embraced by everyone in the area.

The Broadway League, an advocate for the multitude of theaters in the vicinity, opposes the idea and aligns itself with the No Times Square Casino Coalition. This group is also supported by the Hell’s Kitchen Neighborhood Association.

Anticipated to submit their bid to the New York State Gaming Commission when ready, the Times Square casino group awaits the opportune moment.

The NYSGC is presently analyzing all proposals submitted by bidders. A 30-day timeframe is expected to open up for the submission of official bids as soon as all queries and points addressed by the NYSCG are made public.

A minimum of 11 contenders are all in pursuit of three prospective casino licenses in the downstate region.