Posting date: 25 May 2023 at 07:51h
Last updated: May 25, 2023 at 07:51h
Time Square, New York City. (Image:
CNN
“Power & Politics” show, Reeg said that Caesars is already paying “north of $100 million” in sports wagering taxes to the fourth-largest state and that the Times Square casino would be “exceeding this by a healthy margin.” (Image: CNN)
In an upcoming interview with Tara Rosenblum of
News12 Connecticut’s
“Power & Politics” show, Reeg said Caesars is already paying “north of $100 million” in sports wagering taxes to the fourth-largest state and that the Times Square casino would “exceed that by a healthy margin.”
Caesars is one of more than 10 gaming companies vying for just three New York City-area casino permits. Caesars is leading the Times Square casino group, along with real estate developer SL Green and Jay-Z’s Roc Nation entertainment agency. The Times Square casino group is led by Caesars, real estate developer SL Green and Jay-Z’s Roc Nation entertainment agency.
Reeg Looks to Allay Times Square Casino Concerns
As is the case with nearly all of the other downstate casino pitches, the Times Square plan has its share of supporters and detractors.
The latter camp is comprised mostly of businesses and locals that fear a gaming venue would harm the neighborhood’s storied live theatre industry as well as other area businesses, such as restaurants.Caesars is taking steps to allay those concerns. Earlier this year, the gaming company said it will leverage its popular Caesars Rewards loyalty program so that participants can convert points to gift cards for use at Time Square venues, including hotels, restaurants, retailers, comedy clubs, and entertainment venues.Other detractors fear a gaming venue would add traffic to the already congested Times Square area, but Reeg told
News12
the operator is diligently working on safety and traffic plans.
“We have traffic consultants all ready with plans where we would reduce the congestion in Times Square from where it is today. And I think if opponents take the time to sit down and hear what we’re planning, what my experience has been, is they walk away with a different opinion,” the chief executive said in the interview.
Times Square Casino Could Be Coup for Caesars
New York City is arguably the most desirable untapped gaming market in the US — perhaps in all of the developed world. Caesars, and many of its competitors, want to be in the biggest US city. Some estimates attribute half of Caesars’ share price to its Las Vegas operations, despite the fact that it is the largest casino operator in America by number of venues. “I am feeling lucky.”