Caesars Entertainment has received the backing of the Coalition for a Better Times Square, a collective of Times Square stakeholders, for the construction of its casino on Broadway.
Back in October, Caesars announced that it would be partnering with SL Green to bid for the redevelopment of 1515 Broadway into Caesars Palace Times Square.
In December, Jay-Z’s entertainment agency Roc Nation agreed to become the entertainment partner for the operator and their potential future venue bid.
Now, Caesars has received further support for its casino bid in the heart of the Big Apple with the backing of the Coalition for a Better Times Square.
According to Broadway World, the collective released a statement backing the Caesars casino bid as it could financially help theatre shows in the area which have failed to bounce back following the impact of the COVID-19 pandemic.
The coalition said in its statement: “Fortunately, there is an opportunity to bring a new influx of visitors to the theater district and ensure that Times Square remains the greatest entertainment destination for New York City: Caesars Palace Times Square.
“The current proposal by SL Green, Caesars Entertainment, and Roc Nation, and supported by this coalition, would generate an estimated 412,000 new Broadway ticket sales annually and bring more than $65m in new revenue for the Broadway industry.
“The coalition supports Caesars Palace Times Square because it is being designed specifically to support Broadway and the entire Times Square community, bringing an influx of tourists and New Yorkers to the area’s hotels, restaurants and entertainment venues.”
While Caesars has the support of the Coalition for a Better Times Square, planned casinos for the area do not have the full backing of Broadway, as several groups have voiced their opposition including the Shubert Organization and the Broadway League.
Bidding for the Times Square location and two other commercial venues in the state began last week when the New York Gaming Facility Board unanimously voted to issue a request for applications, setting a $500m minimum capital investment and a $500m license fee for applicants pursuing to construct a commercial casino.
While no deadline has been imposed yet on applications, applicants must submit a first round of questioning on the process by February 3.
