Jay‑Z‑Backed Caesars Palace Plan in Times Square Rejected by Local Board Amid Broadway Opposition

A state-commissioned community advisory committee on Wednesday rejected a $5.4 billion proposal to redevelop an office tower at 1515 Broadway into a Caesars Palace–branded hotel, gambling and entertainment complex, effectively ending the project’s bid for a New York City–area casino license.

The proposal, backed by Jay‑Z’s Roc Nation and developed by SL Green, had called for renovating the tower that houses the Minskoff Theatre, home to the long-running musical The Lion King, into a resort casino and entertainment destination. Local board approval was required for the plan to advance to the state Gaming Commission, which is expected to award up to three full-casino licenses in December.

Marc Holliday, chief executive of SL Green, criticized the vote after the brief meeting in a conference room overlooking Times Square, calling it “a despicable display of cowardice, a complete lack of consideration for all the people who would benefit from this.” The Rev. Al Sharpton, a prominent backer of the plan, assailed the vote as one that preserved “the historically white control of Times Square entertainment businesses,” saying, "We will remember that in the community," after the all-white committee voted.

Developers had presented the project as a world-class resort that would complement Broadway and neighborhood businesses. Jay‑Z, in a recent interview, said the proposal was designed without retail space to encourage visitors to buy theater tickets, dine in local restaurants and shop nearby, arguing casino patrons would "fill seats, book dinners before shows, and keep hotels in the area full." The developers also pledged $250 million in community investments, including a public safety plan devised by former New York Police Department Commissioner Bill Bratton and a proposed civil rights museum endorsed by Sharpton.

Broadway theater owners, producers and labor unions mounted a vigorous campaign against the plan, staging protests in Times Square and packing community hearings in recent months. The Broadway League, the trade association for the nation’s performing arts theaters, argued the casino would draw patrons away from neighborhood businesses and threaten a theater industry still recovering from the COVID‑19 pandemic.

Opponents also warned that placing a large casino in the heart of the theater district could change foot-traffic patterns and the character of the neighborhood. Developers and supporters countered that the complex would drive more visitors to Broadway and nearby attractions rather than cannibalize existing businesses.

The Times Square proposal was one of eight casino projects vying for state approval; all eight must secure local board approvals by the end of the month before the state Gaming Commission conducts its review. None of the current contenders are located inside New York City. Other proposals include projects on Manhattan’s West Side near the Jacob K. Javits Convention Center and on the East Side near United Nations headquarters, a Bally’s project planned for a Bronx public golf course that could net a payout to former President Donald Trump’s company, a Coney Island boardwalk casino plan in Brooklyn, and a Hard Rock proposal near Citi Field in Queens.

Several existing slot parlors and racetrack gaming facilities have also proposed upgrades or expansions. MGM Resorts has proposed a $2.3 billion expansion at Empire City Casino at Yonkers Raceway, and Resorts World owner Genting has proposed about $5.5 billion in investments at the Aqueduct Racetrack in Queens.

The statewide casino expansion dates to a 2013 voter referendum that authorized up to seven full casinos. Four full casinos have opened since then, but all are located upstate. The state also operates nine gambling halls offering electronic gaming machines but not live table games.

With local approval denied, the Times Square Caesars proposal is no longer expected to proceed to the state commission’s competitive review in December, narrowing the field of projects under consideration for the limited number of licenses.