Restaurant Chain Endorses Planned Casino in Times Square
A collective of Latino-owned bars and eateries are publicly endorsing a proposed casino hotel in Times Square, marking them as the latest industry group to express their support.
The New York State Latino Restaurant, Bar & Lounge Association (NYSLRBLA) revealed on Thursday that they are in favor of plans by Caesars Entertainment and SL Green to establish a gaming venue at 1515 Broadway, Times Square. Roc Nation, the entertainment company helmed by rapper Jay-Z, is also involved in the project.
Jeff Garcia, president of the NYSLRBLA, stated, "Times Square is the perfect location for New York's next gaming hotspot, no doubt about it. It’s fantastic, not just for Times Square, but for the city as a whole. We predict that the boost in tourism will directly benefit small, minority-owned businesses scattered across the five boroughs."
The NYSLRBLA is a charitable organization aiming to assist Latino business owners in the restaurant and bar industry. The association boasts more than 350 members, encompassing a diverse spectrum of establishments from fast-food joints to luxury venues. These venues are situated not only in New York but also in Connecticut and New Jersey.
NYSLRBLA's Support Could Prove Crucial for Times Square Casino
In October of last year, Caesars Entertainment announced its partnership with SL Green Realty to construct a casino in Times Square. Roc Nation joined the team shortly afterwards.
The proposal has received mixed reactions from the industry, with some groups criticizing it while others, including the NYSLRBLA, express support for the plan. Some local restaurateurs, in particular, question whether a casino will benefit their businesses, speculating that casino hotel guests might prefer to stay indoors, gambling and dining at hotel-owned restaurants instead of patronizing local businesses.
In an attemt to alleviate those concerns, Caesars Entertainment and SL Green recently announced that if the Times Square casino is built, Caesars Rewards members will be able to convert their points into gift cards for use at local businesses. Moreover, they can also earn tier credits at those establishments.
"Financial predictions suggest that a gaming and entertainment complex would attract over 7 million new visitors to Times Square and generate $967 million in annual spending for neighboring hotels, theaters, restaurants, and businesses, enhancing retail and dining options," stated the NYSLRBLA.
Times Square Casino Yet to Materialize
Similar to other casino proposals in the New York City area, the Times Square plan has its supporters and critics. This is something that gaming officials in the state are likely to consider, but it may not be the deciding factor in choosing the winners of the three downstate casino licenses.
Competition for those licenses is intense, and it's anticipated that two licenses have already been claimed by MGM's Empire City Casino in Yonkers and Resorts World New York in Queens.
Furthermore, contenders aiming for those licenses could face scrutiny from the regulator's approval timeline. A decision is expected to be made towards the end of this year, but the process might stretch into next year or 2025.
