Soloviev Group CEO remains ‘confident’ following rejection of Caesars’ casino bid
The New York Community Advisory Committee rejected the Caesars and SL Green Realty proposal for a Times Square casino facility following an official vote held on September 17.
Key Points
- Hershman stated the Soloviev Group’s planning process is “reflective of input” from numerous community members, as his Freedom Plaza project is set to cost an estimated $11bn
- The Soloviev Group, along with Mohegan, is looking to acquire one of three gaming licenses set to be awarded by the NYSGC later in 2025, and believes only “one license should be” awarded in Manhattan
Soloviev Group CEO Michael Hershman, having proposed the Freedom Plaza casino and entertainment complex in New York, released a statement following the rejection of a Caesars Entertainment and SL Green Realty Corporation bid for a Times Square casino.
“Our extensive planning process is reflective of input from neighbors, local leaders and civic partners and considers how Freedom Plaza would not only fit into, but better our community,” Hershman said.
“Despite the defeat today of two formidable applicants, we remain confident that one license should be awarded in Manhattan. Attracting more tourists than any other borough, the city should have a fully integrated resort that is fitting of its position as the global capital of the world.”
The New York Community Advisory Committee officially rejected Caesars Entertainment and SL Green Realty Corporation’s proposal for a Times Square casino facility after receiving just two of the four required votes to move forward to the Gaming Facility Location Board during a vote held on September 17.
The Soloviev Group, along with Mohegan, is looking to acquire one of three gaming licenses set to be awarded by the New York State Gaming Commission (NYSGC) later in 2025, and believes its Freedom Plaza project will “power thousands of union jobs and generate revenues funding hundreds of millions in legally-binding community benefits.”
Good to know: The NYSGC reported the state’s casino and sports wagering performance for August 2025 on September 8, as casino GGR grew 4.7% to $65m
Hershman continued: “To fully realize the civic goals of this process, our leaders are empowered with the opportunity to deliver the greatest public benefit, increase affordable housing, incentivize critical economic development, create jobs and strengthen workforce pipelines.
“It is the hope of all who support this worthy project—labor unions, faith and nonprofit leaders, parks and civic advocates, residents and everyday New Yorkers—that our elected and appointed leaders will approve this collaborative plan and continue to work together with the Freedom Plaza partners and community stakeholders to advance this important and visionary project.”
Final votes from the New York Community Advisory Committee are required by the conclusion of September 2025, as fellow proposals such as Steve Cohen and Hard Rock International’s bid for a casino complex in Queens await to see if it will be issued a gaming license.
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