NEW YORK -- A proposed Caesars Palace casino in Times Square that’s backed by Jay-Z lost its bid for a lucrative New York City-area gambling license on Wednesday after running into fierce opposition from Broadway theater owners and producers who were worried about its potential impact on the theater district.A state-commissioned community advisory committee rejected the $5.4 billion plan to redevelop an office tower into a Caesars-branded hotel, gambling and entertainment complex.Marc Holliday, CEO of SL Green, which was the project's primary developer and property owner, torched the decision following the brief vote in a small conference room overlooking Times Square.
“This was a despicable display of cowardice, a complete lack of consideration for all the people who would benefit from this," he shouted at committee members as they silently filed out.“Go run and hide.”The Rev.
Al Sharpton, who has been a vocal backer of the casino plan, criticized the vote as a decision that preserved the historically white control of Times Square entertainment businesses.“We will remember that in the community,” he said after the all-white committee voted.Local board approval was required for the proposal to be considered by the state Gaming Commission, which plans to award up to three licenses in December.The Times Square casino developers, which included the hip hop mogul’s Roc Nation company, proposed renovating an office tower at 1515 Broadway that currently houses the Minskoff Theatre, which is home of long-running “The Lion King” musical.They envisioned the Caesars-branded gambling hall becoming one of the world’s preeminent resort casinos and had lined up other influential backers, including Sharpton and former NYPD Commissioner Bill Bratton.“New York City is the entertainment capital of the world, so the idea of a world class casino here makes perfect sense,” Jay-Z said in a recent interview with City & State, a publication covering state and...