The companies announced that they are working together to bring a casino to New York.
A Broadway theater that will be home to "The Lion King" is one of the entertainment attractions that would be included in the proposed project.
The development would create good-paying union jobs for New Yorkers and accelerate economic recovery for surrounding businesses.
In April, New York state approved up to three full service casinos for the downstate New York area, with two licenses likely to go to existing casino operators.
Competition for the third license that Caesar is aiming for is heating up as Related Companies and Wynn Resorts compete for a casino in Hudson Yards.
Times Square is believed to be the best location for a new resort casino that will benefit local businesses. "Our approach will ensure that under-represented communities benefit both in terms of employment and investment opportunities."
Four of the seven full-scale casino licenses went to regions upstate and the other three went to the New York City area. The approval process is expected to take a long time and cost a lot of money.
The casino will be managed by Caesars Entertainment and will be 100% private.
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