Gaming business big Caesars Leisure has teamed up with one in every of Manhattan’s largest builders, SL Inexperienced Realty Corp, to supply a on line casino that will likely be located proper in Instances Sq., New York.
In a joint assertion, the 2 corporations revealed their plans to raise the realm’s economic system, tighten up safety and convey a special type of leisure to it. They’re each at present pursuing one of many three out there gaming licenses within the New York Metropolis space.
The duo’s proposal contains repurposing the constructing at 1515 Broadway – which previously housed MTV’s Instances Sq. studios and is now an workplace advanced – right into a Caesars Palace Instances Sq. on line casino. Along with that may be a Broadway Theater for Lion King. To sweeten the deal for the inhabitants of New York’s Theater District, the duo included plans to enhance site visitors congestion and mass transit there – all being totally funded privately.
“We imagine that Instances Sq. provides the very best location for a brand new resort on line casino that may appeal to vacationers and profit native companies,” Marc Holliday, CEO of SL Inexperienced, mentioned in an announcement.
“A on line casino in Instances Sq. is in line with present makes use of within the space. Instances Sq. is the middle of the leisure universe. As a result of we’re proposing a renovation, as soon as the license is issued, we will open faster than different services, which require solely new building, modifications in regulation, and will likely be disruptive to their native communities.”
Playing homes have been unlawful within the New York Metropolis space for a few years, however the ban is lifting by 2023. As such, the on line casino fee within the state is giving out three Tier III gaming licenses that can permit slots, desk video games and retail sports activities betting, and the asking value for these licenses begins at USD $500 million.
Two of those licenses will most probably go to MGM’s Empire Metropolis On line casino in Yonkers and Resorts World New York in Queens. In the meantime, main competitors for the final license will come from the three way partnership between Wynn Resorts and Associated Corporations and a collaboration between Arduous Rock and billionaire Steve Cohen.
Reward for the Caesars proposal has come pouring in from former New York Police Commissioner Invoice Bratton and the Actors’ Fairness Affiliation.
“The proposal from the developer for a Instances Sq. On line casino could be a sport changer that enhances safety and security within the Instances Sq. neighborhood with elevated safety employees, extra sanitation tools, and new cameras,” the group mentioned.
Nonetheless, there was pushback from a number of angles towards the proposal. Chief amongst these is the Broadway Theater League, which brazenly denounced the on line casino.
A press release from the group learn: “The addition of a on line casino will overwhelm the already densely congested space and would jeopardize all the neighborhood whose existence relies on the success of Broadway.”