SL Green Realty Corp. and Caesars Entertainment are partnering in a proposal that would redevelop 1515 Broadway in the heart of Times Square as a casino and entertainment complex.
The companies offered minimal details on what the proposed Caesars Palace Times Square would encompass, although they stated the property will be designed to include a Broadway theater for “The Lion King.”
“We believe that Times Square offers the best location for a new resort casino that can attract tourists and benefit local businesses,” said Marc Holliday, CEO of SL Green. “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.”
In their announcement, the companies stated having a Times Square casino would include “significant security and traffic improvements as part of their proposal, which would boost Mayor Adams and the NYPD’s efforts in Times Square.” However, neither Mayor Adams nor the NYPD have publicly endorsed the proposal.
This is the second casino proposal for Manhattan within a month, following a concept floated by Related Cos. and Wynn Resorts for a casino license at Hudson Yards on the west side near the Javits Convention Center.
