A bump in the road
New York Gov. Kathy Hochul years ago orchestrated a licensing process for three New York casinos. After a drawn-out process, license applications were due near the end of June, and recipients are expected to be announced before the end of the year.
Despite the imminent awarding of the three licenses, The Entertainment Community Fund, formerly the Actors Fund, said that a casino in New York City could represent a step backward.
We believe that a casino in the heart of New York City takes Times Square in the wrong direction,” Entertainment Community Fund President and CEO Joseph Benincasa said in a statement. “Our Board opposes the Times Square casino bid. We believe it will create a less safe and secure neighborhood for those working on stage and behind the scenes who make Broadway and the entire NYC theater community vibrant.”
The fund has a heavy interest in the planned location of the casino. 1515 Broadway is in the theater district, while the fund supports actors, artists, performers, and professionals who work in the industry.
Several other theater organizations, including the Broadway League, Broadway Cares/Equity Fights AIDS, and theater unions Local USA 764 and 829, have also spoken out against the casino.
A total of 35 groups have joined the No Times Square Casino Coalition.
“We’re glad to have the Entertainment Community Fund join the No Times Square Casino Coalition and take part in our tireless effort to ensure our neighborhood residents, local businesses, and theater community are protected from ramifications of a casino in the heart of Times Square,” said Jason Laks, President of the Broadway League.
Will the casino get over the line?
The leaders of the casino proposal represent one of eight teams that submitted applications and $1 million application fees to the New York Gaming Facility Location Board.
Their $5.4 billion proposal would transform a 54-story skyscraper with office buildings into a lavish casino with 150,000 square feet of gaming space, nearly 1,000 hotel rooms, a rooftop observatory, a wellness center, dining options, and nightlife entertainment curated by Roc Nation.
Estimates from developers suggest that the casino would generate more than $7 billion in tax money during its first 10 years and create 3,800 permanent jobs. They also suggested that it could add $26 billion in economic stimulus to the surrounding area.
Despite the projections, locals have not been swayed.
“The No Times Square Casino Coalition has grown to 35 members from resident, labor, business and civic organizations that represent the breadth of the Times Square community and are concerned about the significant negative impacts a casino would bring,” the group said in a statement.
The opposition to the casino is not unanimous in the theater community. Various businesses, including hotel and theater venues, believe that the casino – which would not be visible from the ground floor outside – would bring more foot traffic to the area.
Every casino application will be reviewed by community advisory committees, who will submit their recommendations to the Gaming Facilities Location Board later this year.
