Caesars Reportedly Throws Hat Back Into NYC Casino Ring
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Caesars Entertainment and SL Green are partnering to submit a bid to build a casino in Times Square.
Caesars Entertainment and SL Green Realty Corporation are working on a casino proposal in Times Square. The company wants to enlist local retailers, restaurants and construction workers in the project. Gambling revenue from the casino would go towards doubling the number of public safety officers around Times square and funding the deployment of surveillance drones and artificial intelligence camera systems.
Caesars Entertainment CEO Tom Reeg had previously ruled out the possibility of the company pursuing a license in New York. Times Square is the center of US theatre industry and a key part of New Yorkers' economy. The company has made no comment on the rumors.
There is a lot of interest in a potential NYC casino project. There are currently no comprehensive commercial casinos open in downstate New York. The only gaming venues close to a casino are operated by Genting and MGM Resorts International. Legislators gave the green light to the plans earlier this year.
MGM and Genting are favorites to get two of the licenses. Wynn Resorts is working with Stephen Ross on a possible casino in Manhattan's Hudson Yards. Hard Rock International was in talks with SL Green about a Times Square project but has since moved on to discussions with New York Mets owner Steven Cohen. Las Vegas Sands is now looking at other options. There are also calls to develop casinos on Coney Island and Staten Island.
