SL Green Realty’s plan to build a $5.4 billion casino in Times Square has ended after the Community Advisory Committees (CACs) voted 4-2 against the proposal on Wednesday. The decision comes after more than two years of efforts by SL Green to gain public and political support for the project.
At the meeting, SL Green CEO Marc Holliday attempted to address the committee following the vote but was not permitted to speak. Afterward, Holliday criticized most committee members, saying, “What you did here today was a despicable display of cowardice, lack of leadership, lack of consideration for all the people who would benefit from this proposal,” adding, “We met the standard, and then some.”
Assembly member Tony Simone explained that his appointee voted against the Times Square casino because local residents largely opposed it. “I’m for responsible development,” Simone said. He also stated, “I love Jay Z and I love Beyonce, but I serve the communities in the 75th District. I have to listen to my residents.” Simone later added that he is personally “not a fan” of casinos due to family experiences with gambling addiction but acknowledged that New York City will ultimately host three casinos and recognized potential benefits: “Look, it’s a shame we won’t get these community benefits. I like Marc Holliday. He’s a wealthy man, he can still give community benefits. They’ve done a lot of good work.”
Richard Gottfried, appointed by Sen. Liz Krueger, also cited concerns about negative impacts on Broadway theaters and nearby businesses as reasons for his “no” vote—a view shared by groups such as the Broadway League.
With SL Green out of contention, two Manhattan casino proposals remain under review: Silverstein Properties’ bid—set for a CAC vote later Wednesday—and Soloviev Group and Mohegan’s $11 billion Freedom Plaza project on Manhattan’s East Side, scheduled for review on September 22. Five other bids across New York are awaiting CAC votes before advancing to the state Gaming Facility Location Board. The board is expected to award three licenses by year-end.
SL Green had partnered with Caesars Entertainment, Roc Nation and Live Nation in its plan to redevelop its office building at 1515 Broadway into a casino complex featuring a hotel with nearly 1,000 rooms, restaurants and an entertainment venue. The proposal included $250 million in community investments and offered opportunities for small investors.
The approval process proved challenging for SL Green; key CAC members were appointed by elected officials who opposed casinos in Manhattan—such as Sen. Liz Krueger—and opposition from groups like the Broadway League remained strong throughout deliberations.
Other teams competing for casino licenses have adjusted their proposals ahead of final votes; notably Soloviev Group recently increased its affordable housing pledge from 513 units to 600.
The remaining CACs must decide on their respective projects by September 30.
