The proposed Caesars Palace Times Square project, backed by Shawn “JAY-Z” Carter, SL Green, Caesars Entertainment, and Live Nation, concluded its public hearing process this week with what organizers described as majority support from the community.
Over two hearings and thousands of email submissions, a coalition of local residents, labor unions, Broadway workers, small business owners, and community leaders voiced support for the $5.4 billion plan to transform the office building at 1515 Broadway into a gaming and entertainment complex. Hundreds attended the hearings in person, with some turned away when capacity was exceeded.
“Times Square is the heartbeat of New York. With Caesars Palace Times Square, we're investing in this community, creating real opportunities, and building on the legacy of the world's crossroads. Our plan delivers generational economic growth,” said Shawn “JAY-Z” Carter in a statement.
“Caesars Palace Times Square has always been a community-first project, and it is gratifying to see such genuine excitement throughout this public input process,” Brett Herschenfeld, executive vice president at SL Green, added in reply. “This project will be transformative for Times Square and Broadway.”
“If this casino is established, it will be the first time we will have an institution on Broadway that has diversity at an ownership level,” added civil rights leader Rev. Al Sharpton.
Economic and Community Impact
According to project backers, Caesars Palace Times Square would:
- Commit $250 million in community benefits, including $81 million for a public safety plan and $15 million for a new civil rights museum.
- Generate an estimated 13,000 new jobs in construction, hospitality, and entertainment, with nearly 3,800 permanent roles projected.
- Deliver more than $7 billion in tax revenue to New York City and State over the first decade, alongside $26.7 billion in local economic activity.
- Boost Broadway ticket sales by more than 835,000 annually, with projected additional revenue of $124 million per year.
If approved, the project would also include nearly 1,000 hotel rooms, 150,000 square feet of gaming, restaurants from Daniel Boulud, Gordon Ramsay, Bobby Flay, and others, as well as a Caesars Sportsbook at The 40/40 Club.
Supporters argue the development would reinforce Times Square’s position as a global entertainment hub while delivering long-term benefits for New Yorkers.
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