A Manhattan casino is expected to bring in over $1 billion in annual revenue. For the remaining spot, Caesars Palace Times Square’s most notable competitors are a midtown Manhattan casino from Wynn Resorts and Hudson Yards developer, Related Companies, unveiled last month and a joint venture from billionaire New York Mets owner Steven Cohen and Hard Rock for a casino in Queens reported to be under discussion by several outlets. MGM’s Empire City Casino in Yonkers and Resorts World New York in Queens, both of which already offer some gambling like slots but not table games, are nearly guaranteed to snap up two of the available licenses, according to several reports.
New York state legislators legalized casinos in 2014, but stipulated such facilities couldn’t open in the New York City metropolitan area until 2023 or later, allocating four licenses to four upstate casinos already operating today and earmarking three for downstate facilities. The Broadway League, a trade group for New York theaters, opposes a casino coming to Broadway, telling the New York Times: “The addition of a casino will overwhelm the already densely congested area and would jeopardize the entire neighborhood whose existence is dependent on the success of Broadway.” Key Background
