Caesars has unveiled plans for a new casino and entertainment complex in New York’s Times Square. The proposal has gained backing from well-known civil rights leader Rev. Al Sharpton.
Caesars Entertainment has gained the endorsement of civil rights leader Reverend Al Sharpton and digital real estate entrepreneur Ryan Williams for its proposed Times Square casino in New York City.
Sharpton and Williams have both expressed public support for the plan, which would transform the current office building at 1515 Broadway into a new gaming and entertainment venue in the heart of the iconic district.
Sharpton’s support comes as a surprise, given his past opposition to gambling expansion in the U.S. In 2020, he called on Colorado lawmakers to reject the legalisation of mobile betting, warning it could result in job losses. Despite his concerns, the state moved forward and ultimately regulated the market.
Backing from Jay-Z
At the time, Sharpton addressed his concerns in a letter to Colorado Governor Jared Polis, stating: “Online gaming in Colorado will inevitably attract unsavoury characters who profit off job loss—that’s almost a given. When examining who stands to benefit from the legislation, it’s hard to see why the state would choose to reward such behaviour.”
Explaining his current support for the Caesars Times Square project, Sharpton pointed to the involvement of music mogul Jay-Z, whose entertainment company Roc Nation is a key partner in the proposal. Real estate giant SL Green Realty Corp is also part of the development team.
“Jay-Z’s leadership and vision have made it possible for our community to finally have not just a voice, but a real chance to share in the ownership of Caesars Palace Times Square,” Sharpton said in a press release.
“A casino in New York should be in Times Square, and it must be built to serve the interests of all New Yorkers. That’s why I fully support Caesars Palace Times Square.”
Caesars talks up local investment opportunities
Caesars emphasized that Reverend Sharpton’s strong connection to the local community adds significant value to its Times Square casino proposal. The company also noted that Ryan Williams’ expertise in real estate investment will play a crucial role in the project’s success.
Williams, who previously raised billions through his investment platform Cadre, has focused on helping lower-income individuals participate in large-scale real estate ventures. Caesars stated that local residents in the Times Square area could invest in the proposed casino project with as little as $500.
“This initiative helps break down long-standing barriers,” said Williams. “With the Rev’s vast community reach and our shared commitment to economic inclusion, we aim to go beyond promises—delivering real financial education and meaningful equity opportunities for everyday New Yorkers.”
He added, “More than ten years ago, I launched a model to widen access to real estate investment. Now, we’re bringing that same vision to one of the most ambitious developments of our time—with the goal of unlocking financial opportunities for more New Yorkers than ever.”
Caesars stated that the backing from Reverend Sharpton and Ryan Williams aligns with its broader commitment to promoting the well-being of individuals and the communities it serves.
In 2024, Caesars reported contributing over $71 million in community investments related to the Times Square casino project. Additionally, the company said it generated $10 billion in economic value, which was shared among its various stakeholders.
Caesars drums up support as licence deadline arrives
Caesars continues to gather significant support for its proposed Times Square casino. Developers say over 200 organizations have expressed their backing for the initiative, though it still depends on Caesars obtaining a casino license in New York.
Notable supporters include Geoff Ballotti, president and CEO of Wyndham Hotels & Resorts, who praised the project during a hearing in May. That same month, multiple union representatives also voiced support for the proposal.
Despite this, the plan has drawn criticism—mainly from members of the theatre community—due to the casino’s close proximity to Broadway’s historic venues.
The deadline for casino license applications in the Downstate New York bidding process is set for 27 June. Up to three licenses are expected to be awarded by the end of the year. Other contenders in the race include MGM Resorts, Resorts World New York City, Thor Equities, Bally’s, Soloviev Group, Seminole Hard Rock, and Silverstein Properties.
Meanwhile, a competing casino proposal near Citi Field in Queens, backed by New York Mets owner Steve Cohen, has been gaining momentum in recent months.
