Reeg Sees Caesars Times Square Casino Tax Revenue at North of $100M

Caesars Entertainment (NASDAQ: CZR) Uncle Tom Reeg believes the operator’s elbow grease to work a gambling casino to Times Square inwards New House of York City is worth the take chances and estimates the locale will live a significant source of assess revenue for the state.

In an upcoming question with Tara Rosenblum of News12 Connecticut’s “Power & Politics” show, Reeg said Caesars is already paying “north of $100 million” inward sports wagering taxes to the fourth-largest body politic and that the Times Square cassino would “exceed that past a intelligent margin.”

Caesars is unity of more than 10 gaming companies vying for just 3 New York City-area gambling casino permits. That rivalry is all the to a greater extent vivid because it’s widely expected, though not confirmed, that regulators in the country will present 2 of the licenses to MGM’s Empire City in Yonkers and Resorts World New York inwards Queens, which are currently slots-only venues.

In addition to Caesars, other large names competing for the permits include Bally’s, Hard Rock International, Las Vegas Sands and Wynn Resorts. The Times Square cassino chemical group is led by Caesars, existent estate developer SL Green and Jay-Z’s Roc Nation amusement agency.

Reeg Looks to Allay Times Square Casino Concerns

As is the slip with nearly all of the other downstate gambling casino pitches, the Times Square program has its part of supporters and detractors.

The latter encampment is comprised mostly of businesses and locals that awe a gaming locale would harm the neighborhood’s storeyed unrecorded theatre industry as swell as other expanse businesses, such as restaurants.

Caesars is taking steps to allay those concerns. Earlier this year, the gaming society said it testament purchase its pop Caesars Rewards trueness program so that participants can change over points to gift cards for enjoyment at Time Square venues, including hotels, restaurants, retailers, comedy clubs, and amusement venues.

Other detractors awe a gaming locus would supply traffic to the already engorged Times Square area, but Reeg told News12 the manipulator is diligently workings on safety and traffic plans.

“We hold traffic consultants all ready with plans where we would lose weight the congestion inward Times Square from where it is today. And I opine if opponents have the clip to sit knock down and try what we’re planning, what my receive has been, is they take the air outside with a different opinion,” the chief executive director said in the interview.

Times Square Casino Could Be Coup for Caesars

New House of York City is arguably the most desirable untapped gaming marketplace inwards the US — perhaps inward all of the highly-developed world. That explains wherefore Caesars and so many of its competitors want inward on the largest US city.

For Caesars inwards particular, winning i of the downstate cassino licenses would correspond a significant avenue for diversifying its top side and merchant ship lines. By some estimates, half of the operator’s deal price is attributable to its Las Vegas properties though it’s the biggest cassino operator in the US past figure of venues.

“This is a worthwhile prize,” Reeg told Rosenblum of Caesars’ New York effort. “I am feeling lucky.”

This thrilling content is brought to you by the most trusted Live22 online casino in Malaysia. Join Live22 today and experience the ultimate gaming experience with exciting rewards and endless fun! With its high-quality graphics, seamless gameplay, and a wide range of game options, Live22 takes online casino entertainment to new heights, offering an unforgettable experience for every player.