Caesars’ Times Square casino bid rejected by New York advisory panel
The Community Advisory Committee has voted against advancing Caesars Entertainment and SL Green Realty’s proposal for a Times Square casino, leaving rival projects still in contention.
Key points:
– Caesars’ Times Square proposal received only two of the four votes required
– The project was first proposed in 2022 and faced community opposition over crime and traffic concerns
– Other bids, including projects from Steve Cohen/Hard Rock and Soloviev/Mohegan, remain under review
The New York Community Advisory Committee has formally rejected Caesars Entertainment and SL Green Realty Corporation’s plan to develop a casino in Times Square.
The project received only two votes in favour during a meeting on 17 September, falling short of the four required to progress to the state’s Gaming Facility Location Board.
First unveiled in 2022, the proposal was part of Caesars’ bid to secure one of three downstate gaming licences expected to be awarded by the New York Gaming Commission in December 2025.
The developers argued the project could generate $23.3bn in gambling revenue over a decade. However, local community groups expressed concern that the casino would increase crime and traffic congestion in an already busy part of Manhattan.
Good to know: Caesars Sportsbook began implementing a $0.25 per wager tax in Illinois on 1 September, following the passing of House Bill 1928
The committee’s decision followed a second and final public hearing on 11 September, during which opponents displayed signs reading “No Times Square Casino.”
In contrast, Broadway workers, union members and some small business owners organised a march in support of the proposal, citing potential job creation and local economic benefits.
Other projects remain under consideration, including Steve Cohen and Hard Rock International’s proposal for Queens and Soloviev Group’s Freedom Plaza concept with Mohegan. Both bids continue to await advisory committee approval.
The rejection comes as Caesars continues to adjust its operations amid mixed financial results. In July, the company reported a 34.9% reduction in net loss for Q2 2025, supported by strong growth in its digital division, though its Las Vegas and regional casinos reported lower earnings.
Caesars has also redeemed $546m in senior notes this year, part of efforts to reduce debt and annual interest expenses.
The New York Gaming Commission is expected to finalise licence awards later this year.
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