Video slot machines at Caesars Palace in Las Vegas, Nevada.
George Rose | Getty Pictures
Developer SL Inexperienced Realty is working with on line casino operator Caesars Leisure on a bid to convey a on line casino to New York’s Occasions Sq., the businesses introduced Thursday.
The companions stated the proposed mission would redevelop Occasions Sq. constructing 1515 Broadway into Caesars Palace Occasions Sq., which can embody a Broadway theater that will likely be dwelling to “The Lion King” and different leisure sights.
Additionally they promised the event would “speed up financial restoration for surrounding companies” in Occasions Sq., in addition to “create good-paying union jobs for New Yorkers.”
In April, New York state authorized as much as three full-service casinos for the downstate New York space, with two licenses more likely to go to current on line casino operators — Resorts World racetrack on line casino in Queens and the Empire Metropolis On line casino at Yonkers Raceway, north of the Bronx.
Now, competitors for the third license that Caesar is aiming for is heating up amid a public bid for a on line casino in close by Hudson Yards from Associated Corporations and Wynn Resorts.
“We consider that Occasions Sq. affords one of the best location for a brand new resort on line casino that may appeal to vacationers and profit native companies. Our strategy will be sure that under-represented communities profit each by way of employment and funding alternatives,” stated Marc Holliday, CEO of SL Inexperienced, in an announcement.
Holliday added that as a result of the mission will likely be a renovation as an alternative of a brand new development, the opening can occur faster than different proposed services, and with out adjustments to the regulation or disruption to native communities.
In 2013, New York voters authorized a constitutional modification that granted seven full-scale on line casino licenses for the state — 4 of which went to areas upstate and the remaining three allotted for the New York Metropolis space. The approval course of is anticipated to be prolonged and expensive, with licenses costing at the least $500 million every.
Caesars Palace Occasions Sq. will likely be 100% privately funded, the SL Inexperienced and Caesars Leisure stated, with Caesars managing the on line casino’s operation and model.
