In a surprising turn of events, the bid for a new casino in Times Square got a major boost from the ongoing struggles of neighboring Hudson Yards. According to a recent report by Crain’s New York Business, developer Steve Roth is now looking to pivot his plans for the struggling mega-development to focus on securing a lucrative casino license for the iconic tourist destination.
Hudson Yards, once touted as the future of luxury living and shopping, has been facing serious challenges in recent years. The massive complex has struggled to attract tenants, with high-end retailers and office spaces remaining vacant despite aggressive marketing efforts. Additionally, the global pandemic has further exacerbated these issues, leading to a downturn in foot traffic and revenue.
With Hudson Yards’ future hanging in the balance, Roth has reportedly shifted his attention to Times Square as a potential location for a new casino. The bustling area, known for its bright lights, theaters, and tourist attractions, has long been a popular destination for visitors looking to experience the excitement of New York City. A casino in Times Square could further boost tourism and bring much-needed revenue to the area.
Roth’s decision to throw his hat into the ring for a casino license comes at a time when New York State is considering expanding its gambling options. With neighboring states like New Jersey and Pennsylvania already capitalizing on the popularity of casinos, many believe that New York City is well-positioned to become a major player in the industry.
However, Roth will face stiff competition in his bid for a casino license. Other developers and casino operators are also vying for the opportunity to open a new gambling establishment in the city, and the selection process is expected to be highly competitive.
Despite the challenges ahead, Roth remains optimistic about the potential of a casino in Times Square. In a statement to Crain’s New York Business, he expressed confidence in the area’s appeal to both tourists and locals, highlighting its vibrant energy and central location. With Hudson Yards’ woes opening up new opportunities for development in the city, Roth’s casino bid may just be the boost that Times Square needs to solidify its status as a premier destination in New York City.
