Times Square Casino Plan Defeated, Preserving Broadway‘s Home Base
NEW YORK, NY – A proposal to construct a casino, hotel, and entertainment complex in the heart of Times Square has been rejected by a New York State advisory commitee, effectively halting the plan spearheaded by SL Green Realty Corporation, Caesars Entertainment, roc Nation (Jay-Z), and Live Nation. The committee voted 4-2 against the project on April 15, 2024, according to The Hollywood Reporter.
The proposed growth would have occupied 1515 Broadway,currently the site of the Viacom building and the Minskoff Theater,home to the long-running Broadway production The Lion King.Proponents argued the casino would generate jobs and revenue, but local residents and advocates voiced concerns about the potential impact on existing businesses, increased traffic, and the overall character of Times Square.
Times Square has undergone meaningful conversion over the decades, initially spurred by initiatives like $1 leases offered by Rudy Giuliani to attract businesses. While the area has become a major tourist destination, many feel it has lost much of its original character, increasingly populated by chain stores. Opponents of the casino feared it would further displace smaller, family-owned businesses unable to compete with a large-scale casino resort.
Despite this victory for preservationists, New York City is not entirely out of the running for a casino. Steve Cohen, owner of the New York Mets, is pursuing a separate proposal to build a casino in Queens, near Citi field.
The decision to reject the Times Square casino underscores the importance placed on preserving the area’s unique identity, especially its thriving Broadway theater district. as one observer noted, Times Square “is mainly home to Broadway,” and the theaters offer “a special kind of magic” that shoudl not be compromised.