Shawn "JAY-Z" Carter Comments: "With Caesars Palace Times Square, we're investing in this community, creating real opportunities, and building on the legacy of the world's crossroads. Our plan delivers generational economic growth."

Public Hearing Process Shows Majority Support for Caesars Palace Times Square

Local residents, small business owners, labor unions, Broadway workers, community leaders speak out in favor of project that will bring enormous investment in jobs and $250 million in public benefits

***Photos and Video HERE***

NEW YORK, Sept. 12, 2025 /PRNewswire/ -- The public hearing process for Caesars Palace Times Square concluded today with majority public support for the project. Across two in-person public hearings and thousands of email submissions, a broad coalition of local residents, small business owners, Broadway workers, labor unions, community leaders, elected officials, hotels and iconic entertainment venues spokes out in favor of Caesars Palace Times Square—the proposal for a world-class gaming and entertainment destination from SL Green, Caesars Entertainment, Live Nation, and JAY-Z's Roc Nation.

Across both public hearings, hundreds of people came out in support of the project. Hundreds more were turned away when today's public hearing exceeded capacity, and thousands submitted written testimony directly to the Community Advisory Committee.

"Times Square is the heartbeat of New York. With Caesars Palace Times Square, we're investing in this community, creating real opportunities, and building on the legacy of the world's crossroads. Our plan delivers generational economic growth," said Shawn "JAY-Z" Carter. "As we've seen in cities like New Orleans and London, this project will uplift local businesses, support Broadway, and ensure Times Square remains the global center of entertainment where culture and people thrive."

"We are proud that such a clear majority of New Yorkers have taken time to speak in favor of our project, both in-person and via email," said Brett Herschenfeld, Executive Vice-President at SL Green. "Caesars Palace Times Square has always been a community-first project, and it is gratifying to see such genuine excitement throughout this public input process. This project will be transformative for Times Square and Broadway. We are excited to see it come to fruition."

"I remember as a young activist growing up how we would come to Times Square and dream of days that not only we see more of us on the stage but more of us in ownership," said Reverend Al Sharpton, a supporter of the project. "We don't have DEI right here on Broadway. So if this casino is established, it will be the first time we will have an institution on Broadway that has diversity at an ownership level."

The coalition supporting the bid now includes more than 300 organizations and businesses including local restaurants, hotels, residents, unions and Broadway stakeholders who stand to benefit from—rather than compete with—this exciting new project.

Benefits include:

• $250 million in community benefits: Caesars Palace Times Square is committing $250 million directly to community projects. That will include a transformative, $81 million public safety plan for the surrounding neighborhood designed by former NYPD Commissioner Bill Bratton. It also includes $15 million for a new civil rights museum spearheaded by the Civil Rights Foundation, the establishment of the Manhattan Plaza Capital Trust and $5 million to support the development of the Callen-Lorde Center for Excellence in Sexual Health.
• $124 Million in New Tickets for Broadway per year: More than 835,000 additional Broadway tickets are projected to be sold annually as a result of the project's boost to demand overall, generating $124 million in annual revenue. Additionally, Broadway workers stand to gain tremendously from direct community investment: Broadway union members will benefit from $100 million in direct support, including a $32 million investment in child care, student and medical debt assistance, and rent support for Broadway workers as well as $20 million to purchase Broadway tickets for underserved families.
• Unprecedented revenue for City and State: As the fastest-to-market new gaming proposal, Caesars Palace Times Square is projected to generate transformative economic benefits for New York City and State, with over $7 billion in direct tax and fee revenue and $26.7 billion in local economic impact in its first ten years alone.
• Thousands of good-paying jobs: The economic impact of the CPTS will generate an estimated 13,000+ new jobs in local restaurants, stores, entertainment venues, hotels and other small businesses. The project will also directly support more than 3,000 construction jobs and 3,800 permanent CPTS jobs, the vast majority of which are unionized and will be filled by New Yorkers. These permanent hospitality jobs have an average compensation of approximately $120,000 a year when factoring in tips and Caesars' comprehensive benefits.
• An economic halo effect: CPTS creates long-term demand far beyond its own supply: guests are expected to generate excess demand for more than 13 million meals annually at local restaurants, over 2,400 hotel rooms each night in surrounding hotels, and more than $880 million in incremental annual retail purchases. Through the Caesars Rewards program, over 165 local businesses have already partnered to accept rewards points to ensure the project uplifts the existing Times Square economy rather than competing with it.
• Ownership Diversity: By utilizing Cadre's unparalleled platform for reaching various individual investors at all income levels, in partnership with Rev. Al Sharpton, CPTS will empower local New York households with opportunities starting as low as $500. Historically, real estate investment has been out of reach for low-income New Yorkers, who have been underserved from opportunities of this scale.
• By New Yorkers, for New Yorkers: CPTS is a project built by New Yorkers with deep roots in the city—led by SL Green, Manhattan's largest office landlord; Caesars Entertainment, which operates a successful sportsbook delivering significant tax revenues in New York; Roc Nation, the global entertainment powerhouse founded in New York by Jay-Z; and Live Nation, the world's leading live entertainment company with a longstanding presence in Times Square through existing venues. The project is more than just a speculative venture by outsiders—it's a seamless addition to our state's economic and cultural engine that uplifts local businesses, honors neighborhood character, promotes diversity, and strengthens the future of Times Square for all New Yorkers.
• Commitment to responsible gaming: Caesars will bring its pioneering and well-recognized programs to mitigate problem gambling to CPTS. The programs are guided by the philosophy of ensuring that every guest enjoys their gaming experience for the right reason; to simply have fun. Caesars continues to set the standard for Responsible Gaming in the industry. CPTS goes a step further by committing to having no gaming activity on the ground floor, nor will any tables or gaming devices be visible from the street.

Key Information for Caesars Palace Times Square:

• $5.4 billion in total direct investment
• $23.2 billion+ in Gross Gaming Revenue (GGR) in the first 10 years of operation
• 13,100+ new jobs in local restaurants, stores, entertainment venues, hotels and other small businesses
• 3,800+ permanent jobs at CPTS, the vast majority to be filled by New Yorkers
• 3,000+ construction jobs
• $7 billion in direct tax revenue in the first 10 years of operation
• $26.7 billion in local economic activity in the first 10 years of operation
• 992 hotel rooms, 150,000+ square feet of gaming, Caesars Sportsbook at The 40/40 Club, the luxurious Qua Baths & Spa
• Restaurants from renowned chefs including Daniel Boulud, Gordon Ramsay, Bobby Flay, Melba Wilson and Lucali's
• Reimagined and newly renovated Broadway theater

About Caesars Palace Times Square
Caesars Palace Times Square has a once-in-a-lifetime opportunity to invest in Times Square and New York City with its significant commitments to public security, sanitation, and live performances as well as partnerships with neighboring theaters, restaurants, hotels, and landlords. The project includes more than $250 million in public benefits, including $16.5 million for public realm improvements to enhance privately maintained public restrooms, landscaping, hardscaping, and lighting in shared public spaces. Caesars Palace Times Square will revitalize and reenergize New York's economic engine and cultural capital. SL Green Realty, Caesars Entertainment, JAY-Z's Roc Nation, and Live Nation are partnered on a bid to win one of three new gaming licenses and convert the existing office building at 1515 Broadway into a state-of-the-art, world-class gaming and entertainment destination.

SOURCE Caesars Palace Times Square