Jay-Z’s Times Square Casino Bid Gets Major Boost at Perfect Time

Caesars Entertainment received a major boost in its fight to land one of three New York casino operator’s licenses.

The famed gambling company at the New York State Gaming Commission’s virtual meeting on Wednesday received important endorsements from preeminent businesses, including several near the planned Times Square facility.

The project also includes SL Green and Roc Nation, an entertainment agency owned by rapper and businessman Jay-Z.

Nod of approval

One of the biggest endorsements for the project was given by Wyndham Hotels & Resorts President and CEO Geoff Ballotti, who called it the best pitch of those presented by prospective licensees.

“We believe that this is the only location, having looked at them all, been approached by other partners, where a casino will blend seamlessly into … the identity and the character of a neighborhood that really needs an upgrade,” he said.

Caesars and Wyndham have a rewards points-sharing agreement that allows customers of each to join Caesars’ rewards programs and stay at more than 30 Wyndham properties.

Wyndham also has several hotels near Times Square.

Several local businesses had previously raised concern that a casino would increase the already-overwhelming traffic and noise in the area, and would also keep potential customers inside the casino instead of walking around outside. 

Others see value in bringing more visitors to the area.

“By drawing more visitors to the area, I genuinely believe Caesars Palace Times Square will help drive additional commerce, increase ticket sales for live performances, and strengthen the entire ecosystem that supports our city’s world-renowned arts and culture sector,” Matt Goldman, executive director of The Town Hall, a performance space on Broadway, said in a statement.

Becoming a fierce competitor

Garrett Armwood, Vice President of Government Affairs at SL Green, said that the project was crafted with the interests of the community at mind. He harkened back to the beginning of the session when developers suggested a one-week extension to the public input period to further gauge their input.

“We have designed a proposal that is perfectly in character with the neighborhood and will generate enormous benefits to its neighbors without displacing any residents or potential future housing development,” Armwood said. “This location also enables us to deliver the most sustainable possible project.”

The Town Hall and Sony Hall announced that Caesars Palace Times Square, the name of the project, and Roc Nation plan on sponsoring “multiple” live events per year if the project is approved.

Plans for the casino would also utilize the existing structure of 1515 Broadway, meaning a shortened build time with a low carbon footprint.

Casino applications are due to the New York Division of Gaming Enforcement by June 27. The Times Square project is one of at least six that will receive consideration.

There were plans for a project at the Nassau Coliseum, but Las Vegas Sands has since dropped out of the race. Bally’s also wants to present an application for its property at Ferry Point Park but believes that its connections to President Donald Trump have impeded its progress.