New York’s Times Square the Next Big WSOP Destination?
In April, New York state legislators approved new licenses for three full-service casinos for the downstate New York area. Local media are widely reporting two of these licenses will be awarded to existing casino operators.
Resorts World racetrack casino in Queens has an enormous number of electronic table games. ?GettyImages
Resorts World racetrack casino in Queens – already home to 6,500 slots and 1,300 electronic table games – is one probable recipient. The Empire City Casino at Yonkers Raceway, situated north of the Bronx, is the other.
In addition to its harness racing, the Yonkers venue – owned by MGM Resorts – currently offers over 4,600 games. They include video poker, progressive jackpot slots and electronic blackjack. At this time, neither venue can host live dealer-dealt table games such as roulette and poker.
The Pull of Tourist Dollars
“New York is expanding casino gaming as part of an agreement earlier this year in the state budget that ended the exclusivity clauses for upstate casinos. Currently, there are four commercially operated casinos north of the New York City area in addition to the casinos operated by Native American tribes,” said a recent report by the local news channel, Spectrum News.
“Casino developers and gambling interests have long eyed New York City as a major market given the potential pull of tourism dollars. More broadly, the state has expanded gambling in recent years to include sportsbooks in casinos and mobile gaming apps,” the item continued.
Indeed, The Empire State only legalized online sports betting in January 2022. The latest state figures show it has already resulted in over $11 billion being bet online. Surprisingly, online casino play is yet to be approved in New York State.
Gambling in New York is big business, and three full-service casinos will generate enormous licensing and tax revenues for the state. Consequently, the destination of the third new license – not expected to be awarded until the spring of 2023 at the earliest – is subject to much speculation.
Big Rewards for Times Square
The latest operator to throw its hat into the ring is Caesars Entertainment. The giant hotel and casino entertainment company have announced its proposal – as part of a joint project with SL Green Realty Corporation – to bring a casino to New York’s Times Square.
Retail space for lease: People walk past 1515 Broadway at Times Square – the proposed venue for a new casino – earlier this week. ?GettyImages
Its vision is to redevelop the 54-story office tower at 1515 Broadway as “a premiere entertainment and gaming destination in the heart of Times Square.” The plans are likely to win favor with city chiefs as they promise to boast local businesses via its customer loyalty program, Caesars Rewards.
“Caesars Rewards members will be able to use credits at Broadway shows, local hotels, restaurants, retail stores, comedy clubs, entertainment venues, and more, driving more tourists to area businesses and creating thousands of direct and indirect jobs in and around Times Square,” said the companies in a prepared press release.
It continued, “As one of the largest mobile sports books in New York, Caesars is passionate about New York itself. Caesars is also deeply invested in New York-based restaurant groups, chefs, and entertainers from across the Empire State.”
Marc Holliday, CEO of SL Green was quoted as saying: “We believe that Times Square offers the best location for a new resort casino that can attract tourists and benefit local businesses. We’re excited to pursue this license with Caesars and our many local partners.”
“Our approach will ensure that under-represented communities benefit both in terms of employment and investment opportunities. A casino in Times Square is in keeping with existing uses in the area. Times Square is the center of the entertainment universe. Because we are proposing a renovation, once the license is issued, we can open quicker than other facilities, which require entirely new construction, changes in law, and will be disruptive to their local communities.”
A Home for the True Rounders
The prospect of a Caesars Entertainment casino in the heart of New York will excite the poker-playing fraternity. 1998s ‘Rounders’ movie – seen as the quintessential poker motion picture – was set in the city. But romance apart, Times Square would provide a glamorous location ideal to showcase some of poker’s biggest events.
Caesars has never been concerned about promoting and hosting poker. Just this week the operator opened a new sportsbook and World Series of Poker room at its Grand Victoria Casino in Elgin, Illinois. The 2,100-square-foot sportsbook and 4,400-square-foot poker room represent a $4 million investment.
Grand Victoria Elgin will host its first World Series of Poker (WSOP) Circuit Event between November 10th – 21st. A total of $1 million in guaranteed prize money is at stake. World Series of Poker ring event winners can also win seats in the 2023 Tournament of Champions in Las Vegas.
A New Address for WSOP Events?
The World Series of Poker business is owned by Caesars Entertainment. This year the organization transferred the showpiece event to Bally’s Las Vegas and Paris Las Vegas. These are venues the company owns and operates.
And the spin-off WSOP Circuit – launched in 2005 and consisting of 25 US events during the 2022/23 season – is primarily played at venues owned or operated under lease by Caesars.
Given Caesars Entertainment’s track record and presuming the company can fight off stiff opposition for a new New York license – Las Vegas Sands Corporation and Wynn Casinos are amongst those believed to be in the race – WSOP events being staged in the heart of New York?would appear a logical and exciting step.
