NEW YORK | Casino Development| FT| FLOORS

[NYguy]

Press release for the Caesars bid….



https://www.globenewswire.com/news-r...es-Square.html

SL Green and Caesars Entertainment Announce Pursuit of New York Gaming License for World-Famous Times Square


October 20, 2022
SL Green Realty Corp

SL Green Realty Corp. ("SL Green") and Caesars Entertainment ("Caesars") announced a partnership to redevelop 1515 Broadway as a premiere entertainment and gaming destination in the heart of Times Square, one of the most visited destinations in the world.

Caesars Palace Times Square will not only provide billions in tax revenue to New York City and State, it will also accelerate New York's economic recovery through strategic partnerships with area businesses utilizing its industry-leading loyalty program Caesars Rewards, home to more than 65 million members. Caesars Rewards members will be able to use credits at Broadway shows, local hotels, restaurants, retail stores, comedy clubs, entertainment venues, and more, driving more tourists to area businesses and creating thousands of direct and indirect jobs in and around Times Square.

Caesars Palace Times Square will be designed to include a Broadway Theater for The Lion King. The development will also bring Caesars Entertainment's more than 50 years of globally-recognized excellence in entertainment, food & beverage, and gaming to New York to deliver a best-in-class experience that will be authentic and complementary to the Times Square entertainment district.

"We believe that Times Square offers the best location for a new resort casino that can attract tourists and benefit local businesses. We're excited to pursue this license with Caesars and our many local partners. Our approach will ensure that under-represented communities benefit both in terms of employment and investment opportunities," said Marc Holliday, CEO of SL Green. "A casino in Times Square is in keeping with existing uses in the area. Times Square is the center of the entertainment universe. Because we are proposing a renovation, once the license is issued, we can open quicker than other facilities, which require entirely new construction, changes in law, and will be disruptive to their local communities."

"Caesars is thrilled to partner with SL Green in connection with a five-star project that will meet and exceed New Yorkers' expectations for world-class entertainment, immediately enhancing New York City's tourism engine and elevating this one-of-a-kind global destination to new heights," said Tom Reeg, CEO of Caesars. "As one of the largest mobile sports books in New York, Caesars is passionate about New York itself. Caesars is also deeply invested in New York-based restaurant groups, chefs, and entertainers from across the Empire State."

Actors' Equity stated, "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."

“A trip to New York isn’t complete without a visit to Times Square – it’s the crossroads of the world,” said Geoff Ballotti, President and CEO Wyndham Hotels & Resorts, which franchises 38 hotels in Manhattan and the Great State of New York. “A project of this scale and scope will help bring more tourists back to Times Square, fill hotel rooms not only here, but all across the City and create great jobs at the same time.”