The highly publicized Caesars Times Square casino bid, supported by Jay-Z’s Roc Nation and Caesars Entertainment, has come to a halt after a New York community advisory committee (CAC) voted 4-2 to reject the proposed project.
Valued at approximately $5.4 billion, the bid aimed to transform the iconic office tower at 1515 Broadway – home to the Minskoff Theatre and the renowned musical The Lion King – into a comprehensive hotel, entertainment hub and casino under the Caesars brand.
This decision is a major turning point in the ongoing competition for one of downstate New York’s three potential casino licenses, which the state plans to award later this year.
Key takeaways:
- A New York community advisory committee votes 4-2 to reject the $5.4 billion Jay-Z-backed casino bid in Times Square.
- Opponents cite risks to Broadway’s cultural integrity, congestion, and resource diversion.
- Supporters highlight potential economic benefits, including job creation and tax revenue, sparking ongoing debates about development versus preservation.
Community Priorities over the Casino Project
From the outset, the Caesars Times Square casino bid faced strong opposition from Broadway theater owners, cultural organizations, local residents and industry unions. Critics expressed apprehensions that incorporating a casino within Times Square could undermine the area’s vibrant cultural scene and economic vitality – an area globally recognized as the heart of entertainment and theater in New York City.
Jason Laks, president of the Broadway League, emphasized the importance of safeguarding Broadway’s integrity, stating that the community’s cultural landscape must be protected. During a public hearing, Broadway general manager Sam Dallas vividly captured local sentiment by singing a parody of “New York, New York,” proclaiming “a casino would be in the way… No way!”
Concerns centered on increased congestion, resource diversion, and potential harm to the arts community as Broadway segments continue to recover from COVID-19 impacts. The local community advisory committee’s rejection of the casino bid underscores these community and cultural priorities.
What Advocates Say About the Times Square Casino Bid
Despite the opposition, supporters, including Jay-Z himself, championed the project as a catalyst for economic growth, promising roughly 3,000 construction jobs and 3,800 permanent positions.
The plan projected generating an estimated $7 billion in tax revenue over a decade, bolstered by initiatives such as a multimillion-dollar civil rights museum. Civil rights leader Reverend Al Sharpton criticized the CAC’s decision, arguing it perpetuates historic inequities affecting the Times Square entertainment ecosystem.
Moreover, SL Green CEO Marc Holliday condemned the committee’s stance, calling it “a despicable display of cowardice” as he emphasized the importance of economic development. The Times Square casino bid, therefore, became a flashpoint in the dialogue between cultural preservation and economic progress.
Who’s Still in the Running for an NYC Casino License
The failed casino bid is part of a broader statewide process. A separate CAC also disapproved a $7 billion development known as the Avenir project that was proposed by Silverstein Properties for Manhattan’s Far West Side.
Six proposals remain under consideration for three NYC casino licenses, with possible locations spanning the Bronx, Brooklyn, Queens and elsewhere. These proposals follow a 2013 voter referendum that authorized up to seven full-scale casinos statewide, with four already operating upstate.
As the largest untapped gambling market in the U.S., the decisions on casino licenses in or around New York City are poised to significantly shape the city’s gaming, entertainment and tourism industries in the coming years.
Will Development Reshape the Heart of New York Theater?
The rejection of the Caesars Times Square casino bid highlights the ongoing tension between economic development initiatives and the preservation of cultural identity, particularly in a district as iconic as Times Square.
Community voices, cultural stakeholders and urban planners continue to navigate these complex priorities, aiming to foster growth while safeguarding the neighborhood’s historic arts and entertainment fabric.
