Caesars Wants Times Square Casino

This week it was revealed that American resort gaming group Caesars Entertainment has partnered with SL Green Realty with the aim of eventually building a casino in Times Square in the middle of New York City.

The development would be the first casino in New York City that would be located at 1515 Broadway and be dubbed 'Caesars Palace Times Square'. The casino would be located next to restaurants and a theater, which would host a version of The Lion King show.

The casino is no sure thing, as Caesars and SL Green Realty will have to submit an application for the casino and submit a series of plans to show that it would be suitable for the location. The process will likely take years, and there have been other betting groups that want a casino in the city, including Wynn and Las Vegas Sands.

Regarding the potential casino, Caesars CEO Tom Reeg said, "Caesars is thrilled to partner with SL Green in connection with a five-star project that will meet and exceed New Yorkers' expectations for world-class entertainment, immediately enhancing New York City's tourism engine and elevating this one-of-a-kind global destination to new heights. As one of the largest mobile sportsbooks in New York, Caesars is passionate about New York itself. Caesars is also deeply invested in New York-based restaurant groups, chefs, and entertainers from across the Empire State."

SL Green CEO Mark Holliday also commented, adding: "We believe that Times Square offers the best location for a new resort casino that can attract tourists and benefit local businesses. We're excited to pursue this license with Caesars and our many local partners. Our approach will ensure that under-represented communities benefit both in terms of employment and investment opportunities.

"A casino in Times Square is in keeping with existing uses in the area. Times Square is the center of the entertainment universe. Because we are proposing a renovation, once the license is issued, we can open quicker than other facilities, which require entirely new construction, changes in law, and will be disruptive to their local communities."