Would a Casino Be Good for Times Square Nyc - New York City HEAD TOPICS
Would a Casino Be Good for Times Square
10/21/2022 4:00:00 PM The Broadway League opposes a proposal to open a Caesars Palace in the area but developers are trying to line up restaurants and unions to lobby for it
Nyc New York City
Source NYT Metro
Today in New York Today: • In the race for a casino license in New York City sees Times Square as the place to be. • An exhibition at the Metropolitan Museum of Art hints at the present-day British monarchy, although it’s about the Tudors. The Broadway League opposes a proposal to open a Caesars Palace in the area but developers are trying to line up restaurants and unions to lobby for it Imagebattle to win a New York City casino licenseI askedThat’s a hard question to answer, in part because the development team has yet to release many specifics, and in part because Times Square is an unusual location. It’s at the heart of New York City’s tourist trade and is packed to the gills with out-of-towners, transit, traffic and neon lights. It’s so full of activity that it’s not clear that the average New Yorker would notice the arrival of a casino there. Broadway is struggling. Fewer theaters have shows running than before the pandemic, and they are grossing less revenue. “The Phantom of the Opera,” Broadway’s longest-running show, is closing. And the Broadway League, which represents theater owners and producers, told members on Tuesday that it was opposed to a Times Square casino. In a statement, the league said a casino would risk the industry’s stability, though it did not specify how. Read more:
NYT Metro » Times Square casino considered Caesars Palace looks to make a home in Times Square Times Square May Get One of the Few Spectacles It Lacks: A Casino Real estate and gaming giants eye new casino in Times Square amNewYork Snap Stock Slumps Premarket as Sales Growth Slows Advertisers Cut Spending
Shares plummeted 25% in premarket trading after Snapchat’s parent company said it was operating on an assumption there would be no revenue growth in the current quarter. Read more >> Times Square casino consideredThree new casino gambling licenses will be issued in the New York City area and one of the areas that could get a casino is Times Square. Caesars Palace looks to make a home in Times SquareNew York State has approved licenses for three full-service casinos to operate in NYC , and Caesars Palace Times Square might become one of them. why? NO Times Square May Get One of the Few Spectacles It Lacks: A CasinoThe battle to win a New York City casino license has heated up in Manhattan, with real estate and gambling giants offering competing proposals for Times Square and Hudson Yards. Real estate and gaming giants eye new casino in Times Square amNewYorkTimes Square, the Crossroads of the World, might soon become the Crossroads of Craps. This is a worse idea than the Jets stadium Would you visit a casino in Times Square?Gambling companies and developers are placing big bets on New York City . In the latest proposal, Caesars Entertainment on Thursday announced it's pursuing a casino hotel in the heart of Times Square. Long $CZR No, and I enjoy Casinos. Plus, we're at the point where they could increase online presence rather than utilize physical real estate. Oct."I have been saying that even if you don't like gaming, you don't like gambling, you never walk into a casino, you probably benefit by this," state Sen.TIMES SQUARE, Manhattan (WABC) -- The times, they are a-changin', and soon maybe Times Square will too.A Strange Loop ,” which won this year’s Tony Award for best musical, have announced plans to close. 21, 2022, 2:04 a.m. said. ET Good morning. and Caesars Entertainment announced a proposal to redevelop 1515 Broadway as a premiere entertainment and gaming destination in Times Square. It’s Friday." Each of the license will cost at least $500 million in fees. We’ll look at why the latest entrant in the race for a casino license in New York City sees Times Square as the place to be.” The simmering tensions between local power brokers, months before the formal bidding process has even begun, foreshadow the fight ahead for developers hoping to cash in on what could become the most lucrative gambling market in the country, at a time when traditional office-using tenants have become more scarce. We’ll also get a glimpse of an exhibition at the Metropolitan Museum of Art that hints at the present-day monarchy in Britain, even though it’s about the Tudors. Addabbo, a Democrat from Queens, is on the Senate Gaming and Wagering Committee. "We believe that Times Square offers the best location for a new resort casino that can attract tourists and benefit local businesses," said Marc Holliday, CEO of SL Green. Image Nina Westervelt for The New York Times The battle to win a New York City casino license has heated up, with a real estate developer and a gambling powerhouse proposing a Caesars Palace casino in Times Square. The developer, SL Green Realty Corporation, and the gambling giant Caesars Entertainment are trying to line up restaurants, retailers and construction workers in a pro-casino coalition. "We already have it in New York, and all we're doing here is expediting this expansion of downstate gaming," Addabbo said. This comes a month after another real estate colossus, Related Companies, joined with the Las Vegas gambling giant Wynn Resorts in a bid for a casino in Related’s Hudson Yards complex.' Holliday also said, "Our approach will ensure that under-represented communities benefit both in terms of employment and investment opportunities. I asked , who covers New York City politics, about the proposal from SL Green and Caesars. Assembly Member Richard Gottfried, a Democrat who represents parts of Manhattan objects to building a casino in the borough.” The safety plans were developed by former New York Police Commissioner Bill Bratton, according to SL Green. What would a casino mean for Times Square? How would it change the neighborhood? That’s a hard question to answer, in part because the development team has yet to release many specifics, and in part because Times Square is an unusual location. It’s at the heart of New York City’s tourist trade and is packed to the gills with out-of-towners, transit, traffic and neon lights. "I don't know about other parts of the city, but I'm quite certain that it does not belong in Manhattan.. It’s so full of activity that it’s not clear that the average New Yorker would notice the arrival of a casino there. On the other hand, critics worry that casinos bring an unsavory element to a neighborhood that’s already showing increasing signs of disorder and heightened violent crime. "We've worked very hard for decades to upgrade Times Square and make it a much better place for all New Yorkers than it was only two or three or four decades ago," he said. Aren’t theater owners concerned that a casino would nudge Broadway shows aside as a main attraction in Times Square? How are the theaters doing at the box office? And what does the union that represents performers have to say? Broadway is struggling. This investment will ensure Times Square is safe for years to come.” The casino is expected to include a hotel, a wellness center and restaurants, right above the Broadway theater that is home to “The Lion King” musical and a stone’s throw from the site of the ball drop on New Year’s Eve. Fewer theaters have shows running than before the pandemic, and they are grossing less revenue." The union representing hotel workers said expanding gaming has the potential to provide thousands of jobs in an industry devastated by the pandemic. “The Phantom of the Opera,” Broadway’s longest-running show, is closing. And the Broadway League, which represents theater owners and producers, told members on Tuesday that it was opposed to a Times Square casino. It released a statement saying: "The Broadway League does not endorse a casino in Times Square. Jeffrey Bank, the president and CEO of the restaurant group that operates Carmine's and Virgil's BBQ, said, "It is time for us to reinvest again - Times Square is the beating heart of New York, but everyone in Times Square is still hurting from the pandemic. In a statement, the league said a casino would risk the industry’s stability, though it did not specify how. But the industry is by no means speaking with a unified voice. Broadway is the key driver of tourism and risking its stability would be detrimental to the City. The competition for the third license features many of the country’s major casino companies. The Actors’ Equity Association, the union that represents actors and stage managers, supports the casino bid, presumably because the casino will come with unionized jobs. "A casino in Times Square is in keeping with existing uses in the area," Holliday said. What about other Times Square stakeholders — restaurant owners, for example? Do they worry that a casino with restaurants would hurt their business? They appear to have mixed feelings. BREAKING NEWS. The local state Senator, Brad Hoylman, told us the Broadway League’s opposition amounted to the proposal’s death knell. But Alan Rosen, the owner of Junior’s Cheesecake, which has locations in Times Square and at the Foxwoods Resort Casino in Connecticut, sees only upside, because, he said, gamblers need to eat." In turn, Times Square would support the mission of Caesars as well. The would-be casino operators want to deploy surveillance drones in Times Square. In a private pitch deck obtained by The Times, Wynn and Related wrote that Hudson Yards, near the Javits Center, was the ideal location to target “diverse upscale” guests for a casino resort complex. Why? The developers argue that Times Square risks falling into decline again — that it is dirtier and less safe these days and needs the investment that they can provide by dedicating some of their gambling revenue to the neighborhood. And they’ve proposed a neighborhood safety plan devised by Bill Bratton, the former New York City police commissioner." Caesars has more than 50 casino properties and is the largest gaming operator in North America. When I spoke with him, he argued that casinos do not bring additional crime — assuming they have adequate safety plans in place. He also predicted that drones would become an integral component of policing in the years to come, because they give officers “the ability to effectively monitor something from above, rather than being lost in the crowd flow below.” Weather It’s another sunny day, New York, where temperatures are near the low 60s. The Broadway League’s “influence and clout and understanding of what theatergoers want is crucial to the future of Times Square, and if they’re opposing this proposal, I don’t see how it proceeds,” said Brad Hoylman, the state senator representing the district that encompasses Times Square. The evening is clear, with temps around the low 50s. ALTERNATE-SIDE PARKING In effect until Monday (Diwali). Diwali as a school holiday Mayor Eric Adams and David Banks, the schools chancellor, announced their support for making Diwali, the South Asian festival of lights, a school holiday in New York City. The bill — introduced by Assemblywoman Jenifer Rajkumar, a Democrat from Queens who is Indian American — would substitute the Diwali holiday for Anniversary Day in June on the school calendar. If the bill is passed by the Legislature, that would satisfy a state requirement for 180 days of instruction during each school year. “Look at Las Vegas. It would also satisfy a promise Adams made on Twitter soon after he was elected last year. On Thursday he said a Diwali holiday would be a “long overdue” acknowledgment of Hindu, Sikh, Jain and Buddhist communities. “We already have taken a step previously on canceling alternate-side-of-the-street parking during Diwali,” the mayor said at a news conference, “but we wanted to go further. We wanted to send a loud and clear message to the countless number of people who acknowledge this period of time of celebration.” Rajkumar said the change would allow the school system to meet the 180-day mandate set by the state. “People said that there’s simply not enough room in the New York City school calendar to have a Diwali school holiday,” Rajkumar said at the news conference. “Well, my legislation makes the room.” She said Anniversary Day was “an obscure and antiquated day” and was “observed by no one.” It dates to 1829 and recognized Protestant Sunday schools in general and the Brooklyn Sunday School Union Society in particular. In 1905, the Legislature designated the Thursday in the week after Memorial Day as a holiday for the schools in Brooklyn, and in 1959, it added Queens to the celebration. Only students and teachers in Brooklyn and Queens got the day off until 2005, when a new teachers’ contract extended it to schools in the other three boroughs. Banks said it was “the perfect example” of a day that could be dropped “for something much more meaningful, much more purposeful and something that I think will have a great deal of relevance for all of young people.” The latest New York news Arts & Culture .