Casino proposed for Times Square

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.