Broadway theater owner opposes Manhattan casino plan

In October, gambling giants Caesars Entertainment and Real Estate Investment Trust announced their intention to bring casino property to Times Square in Manhattan. However, not everyone in the region supports this bid. For example, most recently, Broadway’s largest theater owner, Schubert Gucci, said he didn’t like having casinos in the area.

Theater owners are not the first local group to oppose casino bids. Previously, the Broadway League, an organization of more than 700 people consisting of theater owners, operators, producers and general managers, claimed that potential casinos would be detrimental to the region. This is not good news for the Union, which needs regional support to be chosen.

Schubert, vice president of real estate Julio Peterson, spoke about the topic recently on a podcast by CRBE chief economic adviser Spencer Levy. He said he has no objection to commercial casinos in New York City, but he doesn’t want casinos in Times Square. He pointed out that the company wants to protect the area and not get lost in immediate satisfaction, and is thinking about the future sustainability of Broadway.

Meanwhile, some people supported the Times Square casino proposal. One of its supporters is Actors Equity, a labor union representing theater actors and stage managers. In addition, former police chief Bill Bratton and restaurant owners in the theater area also supported the project because it means restaurants will see an increase in customers.

In addition to additional regional support, it should be noted that SL Green and Caesars Entertainment will have to deal with the fierce competition for full-fledged casino licensing. There are three available licenses and currently Resort World NYC and Empire City Casino appear to be always trying to get two of them, with the rest of the candidates vying for a single license.

Some of the other applicants include Wynn Resorts and related companies that have collaborated for casino property in Hudson Yards. A report on property development and management company Thor Equity is also about to submit an offer for casino property on Coney Island. Bali Corporation, Hard Rock, Las Vegas Sands and Rush Street Gaming are also among the interested parties.

If the casino bid gathers full support from the community, it must also be approved by the Game Facilities Location Committee. The panel was introduced in October by the state government, which is responsible for determining the hosts and seating of up to three downstate casinos. The license is not expected to arrive before 2023, and competition filing process will begin soon.

The Commission must determine the fee for the license, which can be more than US$500 million. Candidates must include revenue effects in their applications and pay a $1 million application fee. Finally, the New York Game Commission will have the final say on licensing approval after the committee’s final ruling.

BY: 에볼루션 바카라사이트

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