A planned casino in Times Square has driven a wedge between New York theater worker groups as discussions surrounding possible new casino developments in downstate New York and New York City escalate. The International Alliance of Theatrical Stage Employees (IATSE) New York Theater Locals has joined the No Times Square Casino Coalition, but not all actors share its stance.

A Casino Could Exacerbate Existing Problems

IATSE includes the Broadway League and several other groups opposing the casino plan who stood firm against any casino projects in the area. According to the No Times Square Casino Coalition, the theater district was the least suitable location for such a development, as other viable proposals for the limited New York casino licenses envisioned superior projects that would not ruin this historic part of the city.

Many IATSE locals participated in the recent rally against the proposed casino, expressing their rising concerns. The organization commented on this matter for the New York Post, noting that situating a casino near Broadway would be a mistake, as it would not bring meaningful economic benefits to the area and could even exacerbate existing problems like traffic congestion.

Casinos are self-contained and are designed to keep patrons inside for as long as possible. Meanwhile, our iconic theater district and Broadway are still recovering from the COVID-19 pandemic.

IATSE statement

The planned casino, developed by Caesars, SL Green, and Roc Nation, an entertainment company owned by rapper Jay-Z, will stand right in the heart of Times Square at 1515 Broadway. However, a poll financed by the No Times Square Casino Coalition revealed that 71% of locals opposed the development, fearing the project’s potential negative impact.

Not All Actors Oppose the Casino

Despite rising concerns, not all theater industry groups stand against the casino. The Actors’ Equity Association spoke out in support of the proposed Caesars Palace Times Square project. The group was confident that SL Green and the other project stakeholders would bolster the area’s appeal and usher in lasting economic prosperity by collaborating with locals.

They’ve put in considerable effort to genuinely understand the ecosystem they’re entering so they can become positive contributors to a better Times Square and a better Broadway.

Actors’ Equity Association spokesperson

Brett Herschenfeld, Executive VP at SL Green, noted that the American Federation of Musicians Local 802, another leading Broadway group, too supported the project. He added that the casino would bring meaningful employment to the area, especially in the building and construction sector. Herschenfeld was confident that a new entertainment destination would bolster the theater industry through continued collaboration.

The ultimate decision regarding this project rests with Governor Kathy Hochul and the New York State legislature. As the debate continues, the future of Times Square hangs in the balance, with the potential for a casino to significantly reshape the iconic theater district and its surrounding businesses. Their verdict will have lasting impacts on the city’s entertainment landscape and its vibrant cultural heritage.

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Tom Reeg, Caesars Entertainment’s chief executive officer, provided some interesting insights into his company’s plans for a Times Square casino. In an interview with Tara Rosenblum, a News 12 senior reporter, Reeg talked about what will make the property so special.

Caesars’ bid for a Times Square casino comes as New York plans to provide three casino licenses to the companies that come up with the best and most reliable projects. Reeg took a walk with Rosenblum, showing her the property he plans to use for the future casino. This is notably the first time Caesars has decided to openly discuss the project.

Reeg said that securing a New York license would be the biggest opportunity for his company ever. Caesars Palace Times Square, the company’s planned property, will be located in an existing 52-story skyscraper. It will have a gaming area of around 250,000 square feet, as well as 950 hotel rooms.

Reeg took Rosenblum to the site and told her that he feels there is a lot of untapped energy in the area. He revealed that the property will have luxurious terraces with food and beverage bars, overlooking Times Square. Reeg specified that there will be no gaming on the ground floor – all the casino experience will be on the upper floors instead.

The Property Would Offer Unmatched Experiences

Rosenblum asked Reeg about his revenue projections for the property. While the CEO was unable to provide an exact figure, he noted that the company already pays “north of $100 million in taxes” to New York through sports betting. The casino revenue, he believes, will be much higher.

The senior reporter also addressed Caesars’ recent partnership with Jay Z. According to Reeg, the celebrity was a perfect fit for a partner in the New York project.

Rosenblum noted that some of Caesars’ critics have slammed the casino project because they feel that it will make an already congested area less safe and more crowded. However, Reeg answered that Caesars has already considered a variety of 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.

Tom Reeg, CEO, Caesars Entertainment

Finally, Rosenblum asked Reeg to reveal something Caesars has never publicly disclosed about the project. To this, the CEO replied that Caesars Palace Times Square would offer an “unbelievable sportsbook experience” to customers. Thanks to this and the partnership with Jay Z, the property will offer experiences that are truly unmatched, Reeg said.

You can see the full interview on News 12.

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Denise Coates and her family, who have been topping the Sunday Times Tax List for several years now, once again found themselves on the news outlet’s Rich List. Taking the prestigious 16th spot on the list, Denise, John and Peter Coates and family have an estimated net worth of around £8.975 billion ($11.15 billion).

The sixteenth place is notably the same place the family behind Bet365 occupied in the 2022 list. According to the Sunday Times, the Coates’ wealth increased by £158 million ($196 million) since last year.

The bet365 brand was created in 2001 after Denise Coates borrowed GBP 15 million to launch the brand. The gambit quickly proved to be a resounding success, with bet365 now cemented as one of the best operators in the UK.

Because of the size of its gambling brand, Denise Coates is one of the biggest taxpayers in the United Kingdom. Last year, Coates had a personal income tax of $642 million, placing her at the top of the list.

There Were Some Major Changes

At the top of the Rich List were Gopi Hinduja and family with £35 billion. The Indian-born businessman operates the influential Hinduja Group, which is behind companies such as Gulf Oil International and IndusInd Bank. The current result translates to an increase of over £6.5 billion.

Next up on the list is Sir Jim Ratcliffe with £29.69 billion. His chemicals business INEOS skyrocketed in 2023, resulting in a wealth increase of a whopping £23.61 billion.

Ratcliffe was followed by Sir Leonard Blavatnik, who is a famous music and media investor. Thanks to his company, Access Industries, Blavatnik is now worth £28.63 billion, an increase of £8.63 billion.

David and Simon Reuben and family, meanwhile, were relegated to the fourth spot on the list. Their worth, according to the Sunday Times Rich List, is £24.4 billion, representing an increase of £2.13 billion.

Sir James Dyson and family, previously second, fell to the fifth spot with £23 billion. Their worth did not increase or decrease significantly, the list claims.

Denise Coates and her family, on the other hand, are situated between Alex Gerko and Anders Holch Povlsen. Gerko, previously ranked 89th, propelled himself to the prestigious 15th spot with £9.13 billion (an increase of £7.13 billion). Povlsen, on the other hand, took 17th place with a worth of £8.5 billion.

You can check the full list on the Times’s official website.

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Roc Nation, the service entertainment agency founded by Jay-Z, turned to the people of New York City to promote its bid to build a casino on Times Square.

New Destination Will Benefit Everyone

Roc Nation addressed the public in an open letter on Thursday, seeking to provide details about its bid for a new gaming facility at 1515 Broadway in Times Square that is meant to serve the benefit of New York City.

“A gaming license is going to be awarded to New York City. A bill was passed in the state legislature confirming it. The question is: which applicant will get the license,” the open letter begins, adding that “some conflicted parties have attempted to spread misinformation,” hence the need to address the public directly.

Roc Nation teamed with New York’s largest owner of office properties, SL Green, and casino entertainment company, Caesars Entertainment, at the end of last year to compete for a casino license and build a new tourist destination in the city, Caesars Palace Times Square.

SL Green’s 1515 Broadway office and theater skyscraper will be transformed into an integrated resort featuring a casino, an entertainment venue, shopping outlets, a spa, and a convention and meeting space. The proposal is also supported by a broad coalition of Times Square stakeholders representing labor from construction, restaurants, hotels, small businesses, and theater, as well as local residents.

The winning group must have a track record of turning words into deeds – of putting New York City and its residents first – people of all races, religions, ethnicities, genders, sexual orientations and socio-economic statuses.

Roc Nation letter excerpt

No Place for Hate and Oppression

Emphasizing that the bid winner should “have a history for fair hiring, representation, and reform,” Roc Nation was also explicitly clear that “hate and groups with a history of oppressing the most vulnerable have no place in New York.”

Determined to ensure that Times Square as an “epicenter of entertainment,” maintains its links “to all facets of culture,” Roc Nation and its partners believe that Times Square is the best location for the new Caesars Palace entertainment destination.

According to the plan, the casino resort will provide billions in tax revenue to New York City and State and will enhance economic activities through strategic partnerships with area businesses.

Estimates show that the venue will generate over 7 million new visits to Times Square annually, resulting in more than 600,000 new overnight visits to local hotels, new over 7 million meals for local restaurants, $166 million in retail spending, and $65 million in new annual Broadway ticket sales.

Roc Nation is adamant that their innovative plan will enhance the lives of everyday New Yorkers by giving back to all surrounding businesses, benefiting mass transits, bringing investments in sanitation and security, delivering a transportation plan, protecting the interests of actors, producers, writers, and staff that are in essence the soul of Broadway, as well as creating opportunities for all.

“Our bid honors the city of dreams, New York City, and the people that have made this place we call home the cultural and entertainment capital of the world,” the letter concluded, urging everyone to support their proposal.

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