Casino proposal for Times Square faces rejection by advisory panel

In a closely contested decision, the Community Advisory Committee has voted against the proposal to build a square in Times Square, effectively ending the bid for gambling in the iconic Manhattan district. The vote was 4-2 against the proposal.

The $5.4 billion project, backed by SL Green Realty Corporation, Caesars Entertainment, Jay-Z's Roc Nation, and Live Nation, aimed to redevelop 1515 Broadway into a Caesars Palace-branded hotel and casino complex. The Minskoff Theatre, home to The Lion King, was also part of the proposed redevelopment, along with Viacom's offices.

The casino project, if approved, would have potentially included other facilities in addition to a hotel and casino. However, the theatre district and surrounding neighborhood were concerns raised by opponents of the casino proposal.

The opposition against the Times Square casino proposal came from the majority of local voters and the "No Times Square Casino Coalition," while the project supporters included Actors' Equity and musicians' union Local 802, who argued that the casino would create jobs and enhance safety in the area. The Broadway League, the Shubert Organization, IATSE, and more than 35 organizations, including the United Federation of Teachers, Broadway Cares/Equity Fights AIDS, the Ali Forney Center, Hell's Kitchen Neighborhood Association, Westside Neighborhood Alliance, and others, were major opponents of the casino project.

SL Green CEO Marc Holliday criticized the rejection of the casino project as a "failure of leadership" and a missed opportunity for economic growth. The state's Gaming Facilities Location Board is set to award up to three casino licenses by the end of the year, but the decision by the Community Advisory Committee has put a halt to the Times Square bid.

The casino licensing process in New York State requires the approval of the Community Advisory Committee, making the committee's decision a significant blow to the casino project's prospects. With the vote against the Times Square casino proposal, the project now joins a list of unsuccessful attempts to bring gambling to Manhattan.