A marquee for a casino will not be among the brilliant lights of Broadway.
Following a crucial decision on Wednesday, a proposed casino in Times Square that has encountered strong resistance, particularly from theatres and Broadway organizations, will not proceed.
High-profile backers of the $5.4 billion resort proposal in the centre of Midtown Manhattan included Roc Nation, the entertainment and sports company owned by musician Jay-Z, and Caesars Entertainment, one of the largest commercial developers in New York City.
However, the plan was met with strong opposition from locals, especially theatre owners and producers who said that a casino would have damaged the neighborhood’s identity and imperilled the local entertainment sector.
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Eight gambling establishments competed for the three new casino licenses in the metropolitan area that will be given out before the end of the year, including Caesars Palace Times Square.
Six bids remain after the Avenir, a casino located on Manhattan’s Far West Side, was also rejected on Wednesday. The Avenir, which translates to “the future” in French, was a $7 billion plan proposed by Rush Street Gaming, the company that runs the Rivers Casinos, and Silverstein Properties, another commercial developer in the city.
A once-crowded field of large developers and casino operators who had created ambitious and occasionally distinctive pitches has now been reduced to just one casino applicant in Manhattan. Despite their claims of substantial benefits for the city, including increased economic spending and the creation of new employment, they have had difficulty persuading doubting neighbourhood groups.
The six members of the Community Advisory Committee, which is appointed by elected officials and whose vote takes into account the proposal’s local support, must approve any New York casino. By a vote of 4 to 2, members of the Caesars Palace facility committee dismantled it on Wednesday. Representatives of Governor Kathy Hochul and Mayor Eric Adams provided the only “yes” votes on both proposals, and the Avenir casino lost by the same count.
Courtesy: https://www.covers.com, https://www.casino.org, https://pechanga.net
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