Casino Group Intending to Invest $250 Million into Local Community Upon Receiving Licensing Approval in Times Square
Times Square Casino Proposal: SL Green, Caesars Entertainment, and Roc Nation Unveil Community-Focused Plan
A consortium led by SL Green, Caesars Entertainment, and Jay-Z's Roc Nation has revealed plans for a casino development in Times Square, New York, that focuses on substantial community investment, job creation, and responsible gaming.
The group has pledged $1 billion in community benefits and infrastructure enhancements, which includes the creation of approximately 23,000 union jobs as part of the broader project plan aimed at supporting the local economy and workforce.
In addition, a $250 million investment over 10 years has been earmarked for measures designed to improve persistent quality-of-life issues in Times Square, such as sanitation, responsible gambling initiatives, and the protection of the neighborhood's limited park space.
The project intends to convert existing office space in an SL Green-owned skyscraper into a high-end casino-hotel-entertainment complex. The casino will be designed to be a "tasteful addition" that supports existing local businesses rather than competing aggressively with them. For instance, there will be no gaming on the ground floor to encourage an intentional and less impulsive gambling experience.
Roc Nation brings entertainment industry expertise to complement Caesars’ operational capacity, positioning the casino as a mixed-use entertainment destination that integrates with the cultural fabric of Times Square rather than detracting from it.
The consortium's plan also includes financial assistance to the Lower East Side Ecology Center, an area composting center, and potential in-depth environmental investments and support for local small businesses in the Midtown and Hell's Kitchen areas. However, the group has not yet provided details on the extent of the environmental investments.
SL Green has stated that they aim to bring benefits to all businesses, including small mom-and-pop restaurants and residents, and have promised to start neighborhood investments as soon as they win the gaming license. Brett Herschenfeld, executive vice president at SL Green, reiterated this commitment, stating, "We aim to bring benefits to all businesses, including small mom-and-pop restaurants and residents."
The investments are contingent on winning a gaming permit, and the final decisions on the three winning bidders for the downstate gaming licenses could be unveiled in late 2025 or early 2026.
However, a recent survey indicates that local support for the casino plan may be divided. While the exact figures vary, around 59% of those surveyed strongly oppose the casino plan in Times Square, with 71% of those surveyed in May expressing similar sentiments about a gaming venue in the theater district.
Three more organizations have joined the opposition group, No Times Square Casino Coalition, indicating that local support could be essential for the casino's hopes. The consortium's plan will undoubtedly face further scrutiny as the decision-making process moves forward.
One innovative aspect of the proposal is the integration of the Caesars Rewards loyalty platform with various businesses in Times Square. This move could potentially boost local businesses by attracting more customers to the area.
As the consortium continues to refine their plans and navigate the regulatory process, they remain committed to their community-focused approach, seeking to create a casino development that benefits all of Times Square.
[1] SL Green, Caesars Entertainment, and Roc Nation, "Times Square Casino Proposal," (2022). [2] Caesars Entertainment, "Responsible Gaming Initiatives," (2022). [5] SL Green, "Times Square Sustainability Initiatives," (2022).
- The Times Square Casino proposal by SL Green, Caesars Entertainment, and Roc Nation encompasses a community-focused approach, aiming to create a high-end casino-hotel-entertainment complex through substantial investment in regional news.
- The casino, designed as a tasteful addition to the region, will prioritize commercial gaming in an industry-responsible manner, with responsible gambling initiatives implemented to enhance the quality of life in Times Square.
- The project's financial support extends to local environmental investments, such as the Lower East Side Ecology Center, and small businesses in the Midtown and Hell's Kitchen areas, further promoting a sustainable casino-and-gambling culture.
- The integration of the Caesars Rewards loyalty platform with local businesses in Times Square is a unique aspect of the proposal, intended to boost regional news and drive commercial gaming by attracting more customers to the area.
