Rejection of Proposal for Caesars NY Casino
The race for casino licenses in New York is heating up, with multiple developers vying for a chance to bring gaming to the Empire State. The decision for the licenses is expected to be made in December.
Two groups currently in the running are the Soloviev Group, working in collaboration with Mohegan, and the Hard Rock International-Steve Cohen partnership. The Freedom Plaza project, proposed by the Soloviev Group and Mohegan, does not have a specific location as of yet. Similarly, the Queens casino proposed by Steve Cohen and Hard Rock International does not have a specified location either.
The competition is heavy, with a total of three casino licenses up for grabs. One contender that was recently rejected was the Caesars project in collaboration with SL Green Realty Corporation. The rejection came on September 17, after the New York Community Advisory Committee voiced strong opposition to the project due to concerns about increased traffic congestion, rising crime, and deterioration of living and working conditions in the area. Despite promises of significant financial investment to gain support, the committee felt that the potential negative impacts outweighed the benefits.
No further details were given about the other groups still in the race for the casino licenses. As the decision date approaches, it will be interesting to see which projects emerge as the frontrunners and which will be left out in the cold. Stay tuned for updates on this developing story.
