SL Green Realty’s efforts to establish a casino in Manhattan have concluded, but CEO Marc Holliday emphasized that the company remains determined to pursue the idea of a Times Square casino.
In the third-quarter 2025 earnings call, Holliday characterized the abandonment of the Caesars Palace Times Square proposal as a significant disappointment, while also highlighting the ambitious nature of the endeavor.
“It’s crucial to express our disappointment at not progressing in the state’s gaming license process,” Holliday stated. He affirmed that the entire team at SL Green dedicated substantial effort towards the project, which he believes could have greatly benefited New York City.
Holliday remarked that the project “would have revitalized Times Square,” while generating numerous jobs and serving as an economic driver for local businesses. He voiced criticism towards the licensing process, stating it centralized too much power in a few hands and asserting there should be at least one casino in Manhattan.
Not Giving Up
When questioned about the future of the 1515 Broadway site intended for the casino, Holliday indicated that the possibility is still viable. “I don’t think it’s completely dead,” he said, assuring that the outcome remains uncertain and potential licensing opportunities could arise in the future.
Community opposition was robust against the Caesars Palace proposal, despite claims of support from over 200 local businesses and organizations. Several local stakeholders, including theater operators and various neighborhood coalitions, were concerned about the potential disruption to tourism and local culture.
Challenges Ahead for Manhattan
The Times Square proposal was among three casino bids in Manhattan, with the other two—The Avenir and Freedom Plaza—also facing rejection. This outcome left Manhattan without any viable casino contenders, as other proposals in the borough were also dismissed by local advisory committees. Four projects outside Manhattan, primarily in Queens, Brooklyn, the Bronx, and Yonkers, are currently advancing.
Despite the challenges, Holliday remains hopeful about the future of the 1515 Broadway property. He noted that the company’s position allows for “complete financial flexibility,” enabling them to assess all available options without urgency.
Looking Toward the Future
SL Green’s persistence in seeking a Times Square casino shows their commitment, even as other bidders have withdrawn. The local landscape and regulatory process may ultimately dictate the feasibility of any future proposals, but Holliday’s statements keep the dream alive for potential future developments.
