Times Square Property Owners Join Support for SL Green Casino Bid

One Times Square and Two Times Square, as well as the owners of 5 Times Square, Paramount Building, Soho Properties, Moinian Group, Wharton Properties, RFR, Ian Schrager Company, and Stillman Development have joined in support of the proposal to bring a Caesars Palace Times Square casino to 1515 Broadway. 

SL Green, Caesars Entertainment, and Roc Nation are planning to redevelop 1515 Broadway as a premiere entertainment and gaming destination in the heart of Times Square, but the plans have received pushback from the Broadway community.

As BroadwayWorld previously reported, The Broadway League is in strong opposition to the project, noting that, "The addition of a casino will overwhelm the already densely congested area and would jeopardize the entire neighborhood whose existence is dependent on the success of Broadway. Broadway is the key driver of tourism and risking its stability would be detrimental to the city."

Many Times Square businesses have also joined a 'No Times Square Casino' Community Coalition, which is against the development. The coalition includes BC/EFA, 54 Below, Sardi's, Joe Allen, Bar Centrale, and many more.

However, Actors' Equity Association has come out in support of the project in a statement saying, "The proposal from the developer for a Times Square casino would be a game changer that boosts security and safety in the Times Square neighborhood with increased security staff, more sanitation equipment and new cameras. We applaud the developer's commitment to make the neighborhood safer for arts workers and audience members alike."

“Times Square exemplifies the culture, energy and optimism of NYC and is justifiably referred to as the crossroads of the world. It is the destination for the domestic tourist as well as the international traveler and a playground for New Yorkers from all five boroughs. No location in the City is more suitable for the beginning of our gaming industry than Times Square, being the no. 1 tourist destination and hub for entertainment, hospitality, retail and transportation,” said Aby Rosen RFR Co-Founder and Principal. “We join the Coalition for a Better Times Square and strongly support their efforts to bring a gaming facility to this neighborhood and are confident the public and private benefits created will ensure a better future for all in this great City of ours.”

“We all want the Times Square area to thrive and stay the economic hub of entertainment that it is today. That’s why we have joined the Coalition for a Better Times Square and are supportive of the bid for a gaming facility at 1515 Broadway, ” said Charlie Rosenberg from The Paramount Building.

“As one of the closest neighbors to the proposed site, we carefully considered the impact this bid would have on our neighborhood. The more we learned, the more it became clear that this is a once-in-a-lifetime opportunity to invest in the future of Times Square and firmly improve the quality of life for neighbors in the area. Our tenants include restaurants, small creative businesses, and Broadway industry leaders that would all benefit from this bid for a Caesars Palace Times Square.”

“As our coalition continues to grow, two things are clear: a new gaming facility in Times Square has broad support from its neighbors and the current proposal for a new entertainment destination at 1515 Broadway would bring enormous benefits to the neighborhood and its local small businesses,” the Coalition for a Better Times Square said. “We look forward to continue fighting for a cleaner and safer Times Square and investing in the future of a neighborhood we all hope remains the center of the entertainment world in New York City.”

The proposed boutique facility would take up eight floors in the existing 54-story tower and include 250,000 square feet of gaming space alongside 950 hotel rooms, entertainment spaces and restaurants. The current structure includes the Minskoff Theatre, which would be renovated under these plans.

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