Caesars Time Square proposal subject to NYSGC review
As part of a recent hearing the Commission has specified that the proposed development could pose environmental risks.
Key Points
- Caesars’ Times Square casino development subject to environmental review
- The project has received support from numerous union and labor representatives
- The NSYGC is set to award up to three NYC casino licenses by the end of the year
A recent public comment hearing hosted by the New York State Gaming Commission (NYSGC) for the proposed Caesars Palace Times Square development saw commission Executive Director Robert Williams label the project a “Type 1 action.”
Indeed, this specification means that the project will be required to go through a stringent environmental review process if it is to receive the green light. Now, following this declaration by the commission, Caesars will be formally required to draft an environmental impact statement for submission to the NYSGC.
However, numerous union and labor worker participants of the public comment hearing expressed support for the development, citing the creation of construction and hospitality jobs, alongside additional tax related incentives, as positives of the Caesars Time Square proposal.
In more detail, the proposed development would see an existing tower at 1515 Broadway – currently an office block – entirely stripped and reimagined as a casino and hotel location. Caesars is one of many bidders for the upcoming New York City casino license, for which the application window is set to close on June 27.
As specified by the NYSGC, there will be a potential three licenses awarded by the end of 2025 allowing casinos to enter the city’s framework for the first time.
Good to know: Earlier this week, Wynn Resorts pulled its casino license application for New York City following backlash around its proposed Hudson Yard development
Elsewhere, however, last week saw Rush Street Gaming announce a new partnership with Silverstein Properties which saw the property development company name Rush Street as the official operator for its upcoming Avenir project – suggesting that the pair could, in fact, also be in contention for a casino license in the city.
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