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Caesars Palace could be coming to NYC’s Times Square

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Staff member
Jan 14, 2008

With a new batch of casino licenses up for grabs in New York, another resort giant on the Strip wants to venture to Manhattan.

Caesars Entertainment Inc. announced a partnership Thursday with New York office landlord SL Green Realty Corp. to open Caesars Palace Times Square in an existing skyscraper.

The 54-story tower, 1515 Broadway, is owned by SL Green. The new Caesars Palace will be designed to include a Broadway theater for “The Lion King,” according to a news release, which did not provide other details on the proposed casino project.

It said the development would bring Caesars’ 50-plus years of “globally-recognized excellence” in entertainment, food and beverage, and gaming “to deliver a best-in-class experience that will be authentic and complementary to the Times Square entertainment district.”

According to the release, Caesars Palace Times Square would “provide billions in tax revenue” to New York City and the state, and the partners are “proposing significant security and traffic improvements as part of their proposal.”

Caesars Rewards members would be able to use credits at Broadway shows, local hotels, restaurants, retail stores and entertainment venues, the release said.

“We believe that Times Square offers the best location for a new resort casino that can attract tourists and benefit local businesses,” said SL Green CEO Marc Holliday, adding the companies’ approach “will ensure that under-represented communities benefit both in terms of employment and investment opportunities.”