A Casino In Times Square? Broadway Divided On Development Gamble

deadline.com:

Times Square, the heart of New York City’s Broadway district, could possibly – possibly being the operative word – gain a glitzy new attraction in the years ahead: The owners of Caesars Palace are proposing the construction of a casino in a neighborhood where monetary risks are typically measured by what succeeds on the theatrical stage.

The New York Times is reporting today that developer SL Green Realty Corporation and Caesars Entertainment are “actively trying to enlist local restaurants, retailers and construction workers in joining a pro-casino coalition, as the companies aim to secure one of three new casino licenses in the New York City area approved by state legislators earlier this year.” As the Times notes, the arrival of a casino would have “enormous implications for Times Square,” with some of Broadway’s current and biggest players seeing either increased competition or a boon for tourism and new money.

The proposed casino would be located in the SL Green skyscraper at 1515 Broadway, near West 44th Street, a building that also houses Broadway’s long-running musical The Lion King.

In a statement obtained by Deadline, the Broadway League – the trade organization representing theater owners and producers – said it opposes the concept. “The Broadway League does not endorse a casino in Times Square,” the League says. “The addition of a casino will overwhelm the already densely congested area and would jeopardize the entire neighborhood whose existence is dependent on the success of Broadway.