SL Green and Caesars Entertainment Still Pushing for Bold NY Casino Proposal
Green Realty Corp. (“SL Green”) and Caesars Entertainment (“Caesars”) announced an exciting partnership back in 2022 aimed at revitalizing Times Square, one of the world’s most iconic destinations.
Their proposal seeks to transform 1515 Broadway into a premier entertainment and gaming hub, under the banner of Caesars Palace Times Square. Image Source: SL Green
A Game-Changer for NYC’s Entertainment Scene
This ambitious project is poised to make Times Square an even more vibrant entertainment and gaming destination. Caesars Palace Times Square is expected to generate substantial tax revenue for both New York City and the State while boosting the city’s economic recovery.
The collaboration with local businesses is a key component of their plan, leveraging Caesars Rewards, a loyalty program with over 65 million members. This will enable Caesars Rewards users to redeem credits at various local establishments, including Broadway shows, hotels, restaurants, retail stores, comedy clubs, and entertainment venues. Such an initiative is set to attract more tourists, subsequently creating numerous direct and indirect jobs in the Times Square vicinity.
Economic and Security Boost for Times Square
Beyond the economic benefits, SL Green and Caesars are proposing significant security and traffic improvements for Times Square. These enhancements align with the efforts of Mayor Adams and the NYPD to ensure a safer environment for residents and visitors alike. The proposed traffic plan aims to enhance pedestrian mobility, improve mass transit, and alleviate vehicle congestion in the area.
The development will also feature a Broadway Theater for The Lion King, adding to the area’s cultural richness. Caesars Entertainment’s global reputation for excellence in entertainment, food & beverage, and gaming promises a world-class experience that seamlessly complements the existing Times Square entertainment district.
Caesars Entertainment’s Commitment to Responsibility and Community
Caesars Entertainment, one of North America’s largest gaming operators, has also been an ever-present in the NY betting market since the launch of the Caesars NY sportsbook. They have an impressive track record when it comes to responsible gambling with training programs, dedicated Responsible Gaming Chairpersons and Ambassadors, and continuous support for organizations addressing problem gaming.
Moreover, Caesars’ PEOPLE PLANET PLAY framework reflects their dedication to integrity, environmental impact reduction, diversity, equity, and community engagement. Their ambitious goals include achieving gender and racial parity in leadership roles by 2025, reducing water consumption, and diverting waste from landfills, all aimed at benefiting the environment and communities.
SL Green and Caesars Entertainment’s proposal for Caesars Palace Times Square heralds a transformative moment for Times Square and New York City. As the project unfolds, it holds the promise of a revitalized and safer Times Square, enriched cultural experiences, and a stronger community, aligning perfectly with the city’s vision for growth and progress.
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