\n<\/p>\n
\n\tA proposed casino in the heart of Times Square \u2013 backed by Caesars Palace, Jay-Z\u2019s Roc Nation and building owner SL Green Realty \u2013 will not be moving forward, per a vote this morning by the project\u2019s Community Advisory Committee (CAC).<\/p>\n
\n\t\u201cThe question of whether to advance the application to the gaming facility\u2019s location board has received two positive votes, meaning the application has been disapproved,\u201d CAC chairperson Carl Wilson concluded during the hearing. Four members of the CAC voted against the project.<\/p>\n
\n\tThe proposal would have built out a 150,000-square-foot casino at the One Aster Plaza office tower, located at 1515 Broadway, a 54-story building that also houses the Minskoff Theater, best known as the home of musical \u201cThe Lion King.\u201d It would have also included a sports-oriented take on Jay-Z\u2019s 40\/40 Club, spas, restaurants and an exclusive hotel within a hotel.<\/p>\n
\n\t\u201cWe are disappointed by today\u2019s decision and process,\u201d a statement on behalf of the project\u2019s three organizers reads. \u201cCaesars Palace Times Square was a visionary proposal that aimed to address longstanding challenges through meaningful private investment. While we disagree with the outcome of this process, we remain committed to advocating for positive change in the city we love. We\u2019ve built strong relationships with a community that is eager for progress, and we hope that those who opposed this project \u2014 both in the public and private sectors \u2014 will now bring the same energy and resources to solving the very real challenges facing Times Square.\u201d<\/p>\n
\n\tOrganizers of the project claimed that the business would generate $7 billion in tax and fee revenue within the first decade of operation, bring $26.7 billion in revenue to neighboring businesses, 3,000 construction jobs to the area and provide 3,800 permanent jobs to local residents.<\/p>\n
\n\t\u201cMy partnership with SL Green and Caesars, this coalition, has all the promise and commitment to economic opportunity, growth and enrichment for the community, and everyone who visits the Empire State,\u201d Jay-Z is quoted as saying in the project\u2019s executive summary.\u00a0<\/p>\n
\n\tBut the project was a source of debate between stakeholders in and around Times Square. Its opponents, including the Hell\u2019s Kitchen Neighborhood Association and several IATSE union chapters, expressed worry of increased crime and negative effects on the surrounding community of Broadway theaters.<\/p>\n
\n\t\u201cWe\u2019re immeasurably grateful to the committee and local leaders \u2014 especially State Senator Liz Krueger, Assembly Member Tony Simone, Borough President Mark Levine and Council Member Erik Bottcher \u2014 who stood with residents and the community to protect our Times Square neighborhood and the magic of Broadway for NYC and the world,\u201d the No Times Square Casino campaign wrote in response to this morning\u2019s vote.<\/p>\n
\n\tIts website lists some 200 local organizations and businesses as supporters, including the Actors\u2019 Equity Association trade union, which represents actors and stage managers working in live theater, and the American Federation of Musicians Local 802, which in part represents musicians working on Broadway.<\/p>\n
\n\t\u201cThis was a vote to protect the magic of Broadway for the one hundred thousand New Yorkers who depend on it for their livelihoods, and for the tens of millions who come from around the world to experience it. A casino can go anywhere, but Broadway only lives here,\u201d Jason Laks, president of the Broadway League, said in a statement on the news.<\/p>\n
\n\tSL Green Realty CEO Marc Holliday pulled no punches in his response to the rejection, as quoted by Playbill: \u201cWhat you did here today was a despicable display of cowardice, lack of leadership, lack of consideration for all the people who would benefit from this proposal. You know it, we met the standard and then some. The only one with courage to stand up is the mayor and governor appointees, and everyone else runs and hides.\u201d<\/p>\n