Two major developments have emerged in the competition for New York's three downstate casino licenses.
First, in an ambitious move to secure one of New York City's coveted licenses, the Caesars Palace Times Square coalition, which includes SL Green, Caesars Entertainment, JAY-Z's Roc Nation, and Live Nation, has made a significant commitment to community investment.
The consortium has pledged $15 million to support the creation of the Museum of Civil Rights in Manhattan, through a partnership with the Civil Rights Foundation. This museum aims to serve as a multicultural hub that celebrates the ongoing struggle for equality and showcases the contributions of various groups committed to equal opportunity in New York City and the Northeast.
"Supporting the Museum of Civil Rights reflects our belief that progress in this city is only real when it is inclusive," said Garrett Armwood, Vice President at SL Green.
The announcement comes just a couple of weeks after the state's first hearing on the casino, and a shift in funding before a recent opposition rally.
Comprehensive Public Benefits Package
The $15 million museum pledge is a part of Caesars Palace Times Square's broader $250 million investment in public benefits.
This includes initiatives focused on public safety, workforce support, emergency medical services, and health equity throughout Times Square and nearby areas.
Earlier, the consortium announced a $5 million commitment to Callen-Lorde Community Health Center, earmarked for existing services in Chelsea and a new Center for Excellence in Sexual Health in Hell's Kitchen.
Challenges and Support for the Casino Proposal
The casino proposal has stirred division within the Broadway and Times Square communities.
While over 300 organizations, including local businesses and unions, back the project, others like The Broadway League, TDF, and The Shubert Organization have voiced concerns, citing fears of increased congestion and economic disruption.
Despite the opposition, the Actors' Equity Association supports the proposal, arguing it will generate jobs and ensure area safety.
Legislative Delays and Market Implications
However, the Times Square casino developers may have to wait a little longer to find out if they have been granted the necessary license to open.
The decision on casino licenses, originally anticipated by the end of the year, is now potentially delayed to next year, pending legislative processes.
New York State Senator Joseph Addabbo has cited legislative requirements and scheduling as reasons for the delay.
He underscores the necessity for New York to retain gambling revenues, which are currently flowing to neighboring states, asserting that the state needs to remain competitive in the expanding national market.
As the legislative process unfolds, Community Advisory Committees are reviewing the eight pending proposals, requiring a two-thirds vote for advancement.
Despite these delays, the conversation about the introduction of casino venues in New York City remains a pivotal issue, with the potential to reshape the city's entertainment and economic landscape significantly.
