Key Votes to Decide the Future of Casino Proposals in Manhattan
This week will be pivotal for two casino proposals in Manhattan. After over two years of promoting their visions, Wednesday may signal either the conclusion or the start of the final competition phase for Silverstein Properties and SL Green Realty.
Two Community Advisory Committees, each consisting of six members, are set to vote on the proposals from both teams. For the projects to advance to the next stage of the casino licensing process, at least four members from each committee must endorse the respective proposals. If approved, these will be forwarded to the state’s Gaming Facility Location Board for the final decision on which three projects will receive a license.
A ‘no’ vote would eliminate the project from consideration. This outcome would also reveal the fate of the proposed sites without a casino. Silverstein has indicated that its area will remain a “giant hole in the ground,” while SL Green’s site is currently an office tower facing financial uncertainty if a casino license isn’t secured.
SL Green, in collaboration with Caesars Entertainment and Roc Nation, aims to transform the 2 million-square-foot office at 1515 Broadway, Times Square, into a $5.4 billion casino featuring a 992-room hotel, dining options, and an entertainment venue. On the other hand, Silverstein, with Rush Street Gaming and Greenwood Gaming & Entertainment, has proposed the Avenir, a $7 billion casino complex at 41st Street and 11th Avenue, including a 1,000-room Hyatt hotel, various dining establishments, and a 150-seat entertainment space.
The votes from the Community Advisory Committees will assess the level of public support for each project. However, it’s more complex; the members are appointed by elected officials, many of whom have expressed opposition to casinos. Although both committees held two public hearings on the proposals, the speaker counts may not reflect how committee members will ultimately decide.
Both proposals face criticism from groups like the Broadway League and residents of Manhattan Plaza, who have vocalized their opposition to the Times Square and Manhattan West proposals, respectively. The influence of these dissenting voices, along with the CAC members’ prior positions on casinos and the benefits each competitor promises, will shape Wednesday’s vote outcome.
Your Opinion Matters
We want to hear what you think about the upcoming vote. Which proposals do you believe will make it through to the final competition round? Share your thoughts at [email protected].
Interesting Tidbit
Fortis Property Group’s Olympia Dumbo features prominently in Spike Lee’s new film, “Highest 2 Lowest,” showcasing the building’s exterior and a model, with a mention from A$AP Rocky’s character.
