A Coalition for a Better Times Square (CBTS) has stated support of a project by Caesars Entertainment for a new Times Square casino, detailing the benefits the casino would bring to local businesses and Broadway theaters.
CBTS, a coalition of theater workers, local business owners, hotels, developers, and other stakeholders operating in and around Times Square, has expressed its support for the licensing of the latest gaming venture and Caesars Entertainment in iconic Times Square in New York said it will boost all business related to the casino as the new venue is estimated to generate $967 million in annual spending in the region.
Caesars Casino to Revitalize Times Square and the Area
New York State announced it would add three new casino licenses to New York City. Caesars Entertainment has partnered with real estate investment company SL Green Realty Corp to try and get one of those licenses. Broadway World reported that CBTS has said they support the Project as it is expected to revitalize Times Square by attracting tourists and New Yorkers to the area that has been more or less deserted due to the pandemic. It is estimated that 7 million new visitors are expected. They are related to development, which equates to approximately 636,000 hotel room nights away from Caesar’s headquarters. The region is expected to generate $166 million in retail spend annually.
David Levy, communications director for the Actors’ Equity Association, also part of CBTS, said he sees the Project as very beneficial for Broadway. He noted that the casino would not only draw crowds of theatergoers but would also mean investment in traffic improvements and security surveillance in the area. Caesars Entertainment has blazoned that it’ll use its Caesars prices program to mate with original businesses. For example, this could mean reward points being used towards restaurant meals, retail vouchers, tickets to Broadway shows, and much more. The company has ensured that all companies will benefit from the new Project.
Not All Are in Favor of the Caesars Project
Various organizations have also raised concerns about Caesars’ Project for a casino in Times Square. For example, the Broadway League’s trade body has pointed out that Times Square and the surrounding area already have a problem with traffic congestion, and a casino in Times Square will only exacerbate the problem. According to the organization, Broadway is the primary driver of tourism and revenue in the neighborhood, and a casino will only overwhelm the product offering. This would endanger the balance of the Broadway theater industry to the detriment of the region and New York City.