{"id":323772,"date":"2024-06-26T14:04:34","date_gmt":"2024-06-26T19:04:34","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=323772"},"modified":"2024-06-26T14:27:37","modified_gmt":"2024-06-26T19:27:37","slug":"times-square-casino-group-promises-250m-in-local-investments","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/times-square-casino-group-promises-250m-in-local-investments\/","title":{"rendered":"Times Square Casino Group Pledges $250M Community Investment if Awarded License"},"content":{"rendered":"

The group behind a plan to bring a casino hotel to Times Square is reportedly promising $250 million in investments in the neighborhood — expenditures that are contingent on winning a gaming permit.<\/p>\n

\"Times
Times Square in New York. Backers of a casino project there are promising $250 million in local investments if they win a gaming license. (Image: CitySignal<\/em>)<\/figcaption><\/figure>\n

amNewYork Metro<\/em> reported Caesars Entertainment, real estate developer SL Green, and Jay-Z\u2019s Roc Nation<\/a> entertainment agency, the consortium angling for the Times Square casino, could make in-depth environmental investments in the Midtown and Hell\u2019s Kitchen areas as well as efforts to support local small businesses.<\/p>\n

We want everyone around us to win if we win,\u201d Brett Herschenfeld, executive vice president at\u00a0 SL Green, told amNewYork Metro<\/em>. \u201cI\u2019m not just talking about big businesses. We need to bring benefits to the restaurants, the small mom-and-pop restaurant businesses, and we need to bring benefits to the residents. They are the lifeblood of Times Square.\u201d<\/p><\/blockquote>\n

Among the pledges made by the gaming group are plans to improve sanitation in the Times Square area, including efforts to promote more frequent sidewalk and street cleaning, and prioritizing protection of the neighborhood\u2019s already limited park space.<\/p>\n

Local Support Essential for Times Square Casino Hopes<\/h2>\n

Herschenfeld\u2019s comments to amNewYork Metro<\/em> arrived a week after the No Times Square Casino Coalition announced that three more organizations joined the opposition group<\/a>, underscoring the point that wooing local businesses and residents could be essential to hopes of bringing a gaming venue to the theater district.<\/p>\n

\n

In May, a poll revealed that 71%<\/a> of those surveyed don\u2019t want a gaming venue in the theater district, and 59% strongly oppose the plan. Critics assert that a casino in Times Square would be a danger to restaurants and theater operators because guests would be more compelled to stay inside the gaming venue, devoting their time to betting, rather than frequenting the neighborhood\u2019s art and culinary offerings.<\/p>\n<\/div>\n

Caesars and SL Green are attempting to convince naysayers that the outcomes with a casino could be different. In February 2023, the companies announced a plan to link the popular Caesars Rewards<\/a> loyalty platform to various businesses in Times Square. That would allow for program members to accrue and use points at those establishments.<\/p>\n

Should\u00a0 Caesars be awarded one of three downstate gaming licenses, SL Green is promising to start its neighborhood investments as soon as that happens rather than waiting for the casino to open.<\/strong><\/p>\n

\u201cI\u2019m starting the investment the day I win the license. I\u2019m not waiting until we open for business,\u201d Herschenfeld told amNewYork Metro<\/em>. \u201cI will start making those investments in the community the second I win that license.\u201d<\/p>\n

Times Square Casino Backs Make Big Environmental Pledges<\/h2>\n

Environmental issues could be determining factors in the credibility of some New York City-area casino bids. As one of the largest real estate developers in the city, SL Green is well-versed in environmental reviews and related processes.<\/p>\n

\n

SL Green is taking steps to bolster related credentials in Times Square, including a pledge to provide financial assistance to the Lower East Side Ecology Center, an area composting center that has been hit with budget cuts.<\/p>\n<\/div>\n

It\u2019s estimated that final decisions on the three winning bidders for the downstate gaming licenses could be unveiled in late 2025 or early the following year.<\/p>\n","protected":false},"excerpt":{"rendered":"

The group behind a plan to bring a casino hotel to Times Square is reportedly promising $250 million in investments in the neighborhood — expenditures that are contingent on winning a gaming permit. amNewYork Metro reported Caesars Entertainment, real estate developer SL Green, and Jay-Z\u2019s Roc Nation entertainment agency, the consortium angling for the Times […]<\/p>\n","protected":false},"author":46,"featured_media":242826,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,86438],"tags":[81897,86457],"acf":[],"yoast_head":"\nTimes Square Casino Group Promises $250M In Local Investments<\/title>\n<meta name=\"description\" content=\"Times Square Casino Pledges $250M Community Investment if Awarded License.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/times-square-casino-group-promises-250m-in-local-investments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Times Square Casino Group Promises $250M In Local Investments\" \/>\n<meta property=\"og:description\" content=\"Times Square Casino Pledges $250M Community Investment if Awarded License.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/times-square-casino-group-promises-250m-in-local-investments\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-26T19:04:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-26T19:27:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/TS.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/times-square-casino-group-promises-250m-in-local-investments\/\",\"url\":\"https:\/\/www.casino.org\/news\/times-square-casino-group-promises-250m-in-local-investments\/\",\"name\":\"Times Square Casino Group Promises $250M In Local Investments\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/times-square-casino-group-promises-250m-in-local-investments\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/times-square-casino-group-promises-250m-in-local-investments\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/TS.jpg\",\"datePublished\":\"2024-06-26T19:04:34+00:00\",\"dateModified\":\"2024-06-26T19:27:37+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Times Square Casino Pledges $250M Community Investment if Awarded License.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/times-square-casino-group-promises-250m-in-local-investments\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/times-square-casino-group-promises-250m-in-local-investments\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/times-square-casino-group-promises-250m-in-local-investments\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/TS.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/TS.jpg\",\"width\":1200,\"height\":675,\"caption\":\"Times Square in New York. 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