In the race for three new downstate casino licenses in New York, several prominent gambling and entertainment operators have expressed interest. The deadline for submitting license bids is July 31, 2024, and the licenses are expected to be approved by March 31, 2025, thanks to a push by lawmakers to accelerate the process. One of the casino bids for a property in the NYC metro area is a joint collaboration between Caesars Entertainment, Roc Nation (the entertainment company founded by rapper Jay-Z), and SL Green.
The proposed site for the project is a lot at 1515 Broadway, between W. 44 and W. 45 Streets, currently occupied by a 54-level building that will be converted into a casino offering Las Vegas-style games. In an interview with amNewYork, Brett Herschenfeld, SL Green’s executive vice president, highlighted the benefits the Caesars Palace Times Square casino project would bring to local communities. Herschenfeld spoke about the companies’ plans for a $250 million investment in the Hell’s Kitchen and Midtown communities, provided they secure a license.
Funding Provided for Environmental Projects
The investment will fund local environmental projects, including extra sanitation efforts to clean the streets, the planting of hundreds of new trees, and a composting initiative. Herschenfeld emphasized that the investment will begin immediately upon securing the license, stating:
I’m starting the investment the day I win the license. I’m not waiting until we open for business. I will start making those investments in the community the second I win that license.
The casino project is expected to provide economic stimulus, generating taxes and boosting local businesses. Herschenfeld acknowledged the “enormous responsibility” that comes with the project and its importance to the communities and neighborhoods in the area. He predicted that the project would help small businesses and restaurants in the vicinity.
The new gaming and entertainment location is expected to generate taxes and boost local businesses, providing economic stimulus to the area. Herschenfeld spoke about the importance of the project, recognizing the “enormous responsibility” to the communities and neighborhoods involved. He expressed confidence that the project would benefit small businesses and restaurants in the area.
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