SL Green (NYSE: SLG) CEO Marc Holiday has plenty of reasons to continue the real estate developer’s push to bring a casino hotel to Times Square in New York City. Ten million reasons to be precise. Tourists in New York’s Times Square. SL Green CEO Marc Holiday will get a $10 million bonus if a Caesars casino is approved there. (Image: Bloomberg) A recent 8-K filing by the real estate investment trust (REIT) with the Securities and Exchange Commission (SEC) indicates the chief executive officer would land a $10 million bonus if New York regulators approve the proposed Times Square gaming venue, which would be operated by Caesars Entertainment (NASDAQ: CZR). Mr. Holliday will receive a one-time cash bonus in an amount equal to $10,000,000, in the event that the building at 1515 Broadway, New York, New York is converted into a hotel/casino, subject to satisfaction of a projected earnings before interest, taxes, depreciation, and amortization (EBITDA) milestone and commencement… Read More
Category: Commercial Gaming, Financial, Mid-Atlantic, Regional News, commercial gaming, mid-Atlantic, regional news
Source: Casino.org
