The $5.4 billion Times Square casino proposal didn’t receive the needed two-thirds vote to move on to state regulators Vote marks the end for Caesars Palace Times Square Caesars Palace Times Square won’t come to life after a community advisory committee (CAC) rejected the $5.4 billion plan to bring a casino hotel to New York’s theater district. A community advisory committee rejected a proposal by Jay-Z and Caesars to bring a casino to Times Square. (Image: Getty) A consortium comprised of Caesars Entertainment (NASDAQ: CZR), real estate developer SL Green (NYSE: SLG), and Roc Nation, the entertainment agency owned by hip-hop mogul Jay-Z, led the effort to bring a gaming venue to the Manhattan neighborhood, and while it garnered support among some business owners and labor leaders, it also drew significant dissent from community groups and some in the theater world. This was a vote to protect the magic of Broadway for the one hundred thousand New Yorkers who depend…Â Read More
Category: Commercial Gaming, Mid-Atlantic, Regional News, Regulation, commercial gaming, mid-Atlantic, regional news, regulationÂ
Source: Casino.org
