Caesars Entertainment, SL Green, Roc Nation and Live Nation have outlined their detailed bid for a casino licence in New York State, US, as the state’s regulator confirmed it received eight applications.
There are three downstate licences up for grabs, with MGM Yonkers and Bally’s among those in the hunt.
Caesars Palace Times Square would involve the renovation of an existing office building on 1515 Broadway into a 992-room, five-star hotel, with restaurants, a wellness retreat, gaming and nightclubs and entertainment.
It is hoped that the joint venture will pull in more than US$23.2bn in gross gaming revenue and contribute $7bn in direct tax revenue in the first 10 years of operation.
The partners involved also believe the project could add $26.7bn in local economic activity over the same period.
“Caesars Palace Times Square builds on a long history of building world-class destinations that drive tourism, create jobs and deliver lasting value to the communities we serve,” said Thomas R. Reeg, CEO of Caesars Entertainment.
“New Yorkers have the opportunity to do something truly extraordinary right in the heart of the most iconic entertainment district in the world.
“This proposal brings together an unmatched location, unmatched access and unmatched team to deliver a project worthy of New York.”
