New Caesars Time Square Casino Project is in Proposal

Caesars Entertainment has added two high-profile backers to its proposed Times Square casino project, as civil rights leader Reverend Al Sharpton and digital real estate entrepreneur Ryan Williams publicly announced their support. The casino is proposed for 1515 Broadway, currently an office building, and would become a new gaming and entertainment hub in one of the world’s most trafficked urban corridors.

Aspect	Details
Project	Caesars Entertainment’s proposed land-based casino at 1515 Broadway, Times Square, NYC
Key Supporters	Rev. Al Sharpton, Ryan Williams, Jay-Z (via Roc Nation), SL Green Realty Corp
Sharpton’s Previous Position	Opposed online gambling expansion in Colorado (2020)
Community Investment	$71 million invested in 2024; $10 billion economic value created
Investment Opportunity	Local residents can invest in project with minimum $500 contribution
Opposition	Mainly from Broadway theatre industry due to proximity concerns
License Deadline	June 27, 2025; up to three casino licenses to be awarded in Downstate NY
Competing Bidders	MGM Resorts, Resorts World NYC, Thor Equities, Bally’s, Soloviev Group, Seminole Hard Rock, Silverstein Properties, Steve Cohen’s Queens project

What are the Odds of Approval?

Sharpton’s endorsement marks a notable shift. In 2020, he opposed online gambling expansion in Colorado, warning that mobile betting could spur job losses and attract harmful influences. At the time, he wrote to Governor Jared Polis, stating that “online gaming in Colorado will inevitably attract unsavoury characters who profit off of job loss.”

Now, Sharpton has thrown his weight behind Caesars' Times Square bid, citing the involvement of music mogul Jay-Z—whose entertainment agency Roc Nation is a project partner—as a driving factor. “Thanks to the leadership and vision of Jay-Z, we believe that for the very first time our community will not only have a seat at the table but also the opportunity to have a stake in the ownership of Caesars Palace Times Square,” he said in a press release. He added, “A New York casino belongs in Times Square and it should be designed to benefit all New Yorkers.”

Ryan Williams, founder of real estate platform Cadre, also pledged support. Known for enabling lower-income individuals to invest in commercial real estate, Williams said the project would allow New Yorkers to invest in the casino with as little as $500. “We will move from promises to real progress,” he stated, “delivering tangible investor education and meaningful equity investment opportunities for everyday New Yorkers.”

Caesars framed both endorsements as evidence of its commitment to community-led development. The company said its 2024 community investment in the project exceeded $71 million, with $10 billion in broader economic value distributed to stakeholders. It emphasized Sharpton’s community ties and Williams’ investment platform as key elements of its inclusive approach.

The Times Square proposal, developed in partnership with SL Green Realty Corp and Roc Nation, has drawn support from over 200 organizations, according to Caesars. In May, Wyndham Hotels & Resorts CEO Geoff Ballotti and several union leaders publicly endorsed the project.

 

Thanks to the leadership and vision of Jay-Z, we believe that for the very first time our community will not only have a seat at the table but also the opportunity to have a stake in the ownership of Caesars Palace Times Square.

 

The Future

Yet not all feedback has been favorable. Key opposition comes from Broadway theatre stakeholders concerned about the casino’s proximity to major performance venues and its potential to alter the area's cultural character.

The proposal arrives at a crucial moment. June 27 marked the deadline for Downstate New York casino licence applications. Up to three licences are expected to be granted later this year. Caesars faces stiff competition from other bidders, including MGM Resorts, Resorts World NYC, Thor Equities, Bally’s, and a growing Queens-based project led by Mets owner Steve Cohen.

As regulatory decisions loom, the inclusion of prominent social and financial figures may help Caesars sharpen its community credentials—and strengthen its pitch for a coveted New York gaming licence.