TIMES SQUARE — Today, SL Green, Caesars Entertainment, Roc Nation and Live Nation submitted the official proposal for Caesars Palace Times Square (CPTS), formally kicking off a bid to bring the world’s top gaming, entertainment and hotel venue to the heart of the iconic Times Square entertainment district.
The proposal would transform an existing office building at 1515 Broadway into a 992-room, five-star hotel, with restaurants featuring local and international culinary innovation, a wellness retreat, world-class gaming and the hottest nightclubs and entertainment curated by Roc Nation. Designed to create transformative excess demand for local hotel rooms, restaurants, retail and entertainment, CPTS will create an economic halo effect for hundreds of existing establishments in neighboring communities, driving more than $26 billion in new spending. By adaptively re-using an existing building easily accessible by more forms of public transportation than any other bidder, CPTS takes an approach that is both the most sustainable and fastest to market.
The coalition supporting the bid now includes more than 200 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:
Key stats for Caesars Palace Times Square:
“Today’s submission represents years of hard work, partnership, and belief in New York City’s future,” said Brett Herschenfeld, Executive Vice President of SL Green Realty and project lead. “Caesars Palace Times Square is the only proposal that can be delivered quickly, is transit-accessible and sustainable while maximizing economic impact for New Yorkers. Most importantly, it’s the only one designed the New York way: prioritizing community investment and collaboration over competition in the heart of New York City. We’re proud to stand with Caesars, Roc Nation and Live Nation to deliver a world-class entertainment and gaming destination that strengthens Times Square and serves all New Yorkers.”
“Caesars Palace Times Square builds on a long history of building world-class destinations that drive tourism, create jobs, and deliver lasting value to the communities we serve,” said Thomas R. Reeg, CEO of Caesars Entertainment. “New Yorkers have the opportunity to do something truly extraordinary right in the heart of the most iconic entertainment district in the world. This proposal brings together an unmatched location, unmatched access, and unmatched team to deliver a project worthy of New York.”
“Caesars Palace Times Square is about more than gaming—it’s about investing in the soul of New York City,” said Desiree Perez, CEO of Roc Nation. “This unbeatable project will bring new energy to the heart of Manhattan while expanding opportunities for local businesses, artists, and residents. Roc Nation is proud to be part of a team that’s building something so inclusive and deeply connected to the people and our NYC community.”
“When we talk about this project, SL Green and Caesars building a casino here in Times Square — it’s nothing but smart,” said Mike Hellstrom, Vice President and Eastern Regional Manager, LIUNA/Mason Tenders/Local 79. “It’s the best bet that New York can make in authorising and approving a casino license: right here in Times Square.”
"I am proud to support Caesars Palace Times Square because I understand how it will benefit New Yorkers across the city and create opportunity for all of our communities," said Assembly Member Jordan Wright. "My constituents wake up every day facing an affordability crisis that threatens to push them out of the city they've called home for generations. This project will face that crisis head-on – it's a lifeline for working-class New Yorkers that will provide thousands of good-paying union jobs and bring in new revenue and long-term economic stability for working people – not just in Midtown, but in every borough."
“For the largest local union of musicians in the world and others, the choice is clear: it's Caesars Palace Times Square,” said Harvey Mars, Recording Vice President of Local 802 AFM. “There is no Times Square without a thriving Broadway, and this project will not only create desperately needed jobs for our members, but also bring critical benefits like student debt assistance, rental aid, and childcare support – helping artists survive and thrive in New York City. The team behind the project has committed to becoming a true partner to everyone in the live performance community when they win a gaming license including Broadway’s theater owners, producers, stagehands, charitable organizations and the millions who come to Times Square to enjoy our shows, and that's why we're proud to say yes to Caesars Palace Times Square.”
“SL Green has made it clear that they intend to be good neighbors and collaborators. 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 – better for New Yorkers, better for visitors, and better for the Equity actors and stage managers who make Broadway the premier destination it is.” – Actors' Equity Association
“The day Caesars Palace Times Square gets the green light is the day we unlock thousands of local, good-paying jobs,” said Dajaire Blunt, member of LIUNA. “This project is a once-in-a-generation chance to revitalize one of the most iconic neighborhoods in the world. The hardworking union construction workers support Caesars Palace Times Square and we are ready to get to work.”
“Laborers are the skilled hands and proud hearts that built New York City and we are excited about Caesars Palace Times Square,” said Noel Holliday, member of LIUNA. “The folks behind Caesars Palace Times Square have shown us real respect – with commitments to local hiring, apprenticeship programs, and union labor from start to finish. We are ready to support this project and back that commitment up with real work."
“Caesars Palace Times Square represents more than just a project – it’s an investment in the working people who keep New York running,” said John Santos, Secretary-Treasurer of 32BJ SEIU. “By creating thousands of good-paying union jobs across the trades and service industry, this project offers real careers, real benefits, and real respect for labor. SL Green, Caesars Entertainment, and Roc Nation have been at the table with unions from day one, and their commitment to local hiring and union jobs is exactly what New York City needs.”
"As a restaurateur and small business owner, I am proud to support Caesars Palace Times Square because I know it will benefit restaurants across our city and help our industry and communities thrive," said Beatrice Ajaero, Founder and Owner of Nneji. "This project will help drive more customers to restaurants across the city and with the best-in-class Caesars rewards program, they are making it easy for all of us to support each other. This project is a win-win and I am excited to see it support communities from Times Square, to Astoria, and beyond."
“Times Square has always thrived when all of its partners collaborate for the benefit of all,” said Matt Goldman, Executive Director of The Town Hall, a historic, nonprofit venue in Times Square. “This project brings more audiences, more support, and more investment to the existing venues that define this neighborhood. We enthusiastically support Caesar's bid to make the engine of New York City’s economy and culture even stronger and more vibrant.”
"As someone who was born, bred, and buttered in Harlem, a small business owner, and President Emeritus of the NYC Hospitality Alliance, I’m proud to support Caesars Palace Times Square," said Melba Wilson, Founder of Melba’s Restaurants. "As a lifelong New Yorker, I’ve seen firsthand what our city has endured in recent years, and I believe that Caesars Palace Times Square will help energize and revitalize the city for the future. This project will spark new tourism and economic activity for restaurants across the five boroughs. Thanks to unmatched access to public transportation, visitors heading to Caesars Palace Times Square can easily make their way around the five boroughs to dine at one of the over 20,000 eateries in the city – just as the union workers building and working in it can head home with ease after a day’s work."
"On behalf of Wyndham Hotels & Resorts and our more than 40 hotels throughout New York City, we are proud to back the Caesars Palace Times Square bid," said Maire Griffin, Senior Vice President of Global Communications at Wyndham Hotels & Resorts. "As a fellow New Yorker, one thing is clear: Times Square is the epicenter of entertainment in New York City, a global magnet drawing millions of visitors annually, and of all of the casino proposal locations, Times Square makes the most sense as an established hub for tourism. Wyndham’s franchisees look forward to sharing our warm Wyndham welcome with all of the new visitors this facility will attract, and we are more than ready to accommodate these guests making sure they can experience all Times Square has to offer."
“New York City’s hospitality industry is powered by hardworking servers, cooks, bartenders, dishwashers and more who’ve kept this city going through its toughest times. Caesars Palace Times Square is the reward they deserve, and they were proud to show up today,” said Andrew Rigie, Executive Director of the NYC Hospitality Alliance. “It will bring new customers, new energy, and most importantly, new jobs to the heart of our hospitality sector. And by bringing powerful Caesars Rewards partnership opportunities to New York restaurants and bars, our local businesses will see the direct benefit of this transformative project.”
“At the New York State Latino Restaurant Association, we are proud to support Caesars Palace Times Square,” said Sandra Jaquez, New York State Latino Restaurant Association. “Our mission is to uplift and empower minority- and immigrant-owned restaurants through partnerships that fuel recovery and long-term growth and we see this project as a partner that will do exactly that. Caesars Palace Times Square will bring new foot traffic, tourism, and economic vitality to the businesses that make this city thrive.”
“Callen-Lorde is proud to support Caesars Palace Times Square because we believe in its commitment to not only the LGBTQ+ community, but communities across New York,” said Donnie Roberts, Executive Vice President for Development and Communications at Callen-Lorde. “This project’s $5 million investment will help us build a new Callen-Lorde Center for Excellence in Sexual Health in Hell’s Kitchen, expanding access to critical services like rapid STI and HIV testing and PrEP. We’re ready to say yes to Caesars Palace Times Square and hit the ground running to provide culturally competent, compassionate care to even more New Yorkers.”
To see and download the full executive summary of the bid, click here.
For high-resolution renderings of the Caesars Palace Times Square project, click here.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250627392001/en/