Times Square Casino Plan Wins Support of 17 Labor Unions

Posted on: August 12, 2024, 03:06h. 

Last updated on: August 12, 2024, 03:06h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.

A plan to bring a casino hotel to Times Square has the support of 17 New York-area labor unions.

New York Casino
Times Square in New York City. Seventeen labor unions endorsed a proposal to bring a casino hotel to the theater district. (Image: Food & Wine)

In a letter to Manhattan Borough President Mark Levine, State Assemblymember Tony Simone, and City Councilmember Erik Bottcher, whose areas of representation include the proposed location for Caesars Palace Times Square, union representatives said they back the proposal and believe a gaming venue in the theater district will benefit the entire city.

The team behind Caesars Palace Times Square knows and understands New York City,” wrote the union leaders. “They recognize that when Times Square thrives, the entire city thrives. And they are prepared to invest billions of dollars in converting the office building at 44th Street and Broadway into a world-class gaming, hospitality, and entertainment destination, an investment that will transform the economic life of Times Square.”

Signatories of the letter are as follows: Steamfitters Local 638, Mason Tenders’ District Council, Cement & Concrete Workers District Council #16, Sheet Metal, Air, Rail and Transportation Workers Local Union 137, Cement Masons’ Local 780, Plasterers’ Local 262, Tile, Marble & Terrazzo BAC Local Union No. 7 of New York & New Jersey, District Council 9, Painters and Allied Trades International Union, Roofers Local Union No. 8, Bricklayers & Allied Craftworkers Local Union No. 1, Sheet Metal Air, Rail and Transportation Workers Local Union 28, Local 12 Heat and Frost Insulators of New York City & Long Island, International Union of Elevator Constructors Local One, United Association of Journeymen & Apprentices of the Plumbing and Pipefitting Industry of the US & Canada, Plumbers Local 1, Building Material Teamsters Local 282, New York City and Vicinity District Council of Carpenters, International Brotherhood of Electrical Workers, Local Union No. 3.

With Times Square Casino, Labor History Could Matter

The Times Square casino group is led by Caesars, real estate developer SL Green, and Jay-Z’s Roc Nation entertainment agency. Both the gaming company and the real estate investment trust (REIT) have extensive track records working with organized labor.

Executives from both companies have touted those relationships and the pair have already signed agreements with two major Broadway unions — the Actors Equity Association and the American Federation of Musicians Local 802. Additionally, Caesars and SL Green have won agreements of support from several labor unions while reaching a memorandum of understanding with another.

Still, not unions back the Times Square casino proposal. Last month, the International Alliance of Theatrical Stage Employees (IATSE) joined the No Times Square Casino Coalition. That union is comprised of Local One stagehands, Local 764 wardrobe workers, Local 798 hair/makeup workers, ATPAM theater company managers and press agents, USA 829 scenic artists, Local 306 ushers, Local 751 treasurers and ticket sellers.

Several other theater groups, including the Theater Development Fund (TDF), oppose the gaming venue because they believe patrons will stay inside the casino and not venture out into the surrounding? neighborhood to see shows and support local businesses.

Unions See Times Square Casino as Growth Driver

As is the case with many of the downstate casino proposals in New York, the Times Square plan has its share of detractors and supporters. Groups opposing Caesars Palace Times Square believe the venue will cause more crime and traffic congestion while not benefiting local businesses.

Conversely, backers believe the gaming venue will help Times Square regain tourism that hasn’t fully recovered since the coronavirus pandemic while serving as an important jobs creator.

“Not only will the development of Caesars Palace Times Square provide jobs for our members, it will also serve as a catalyst for local economic development, attracting visitors from around the world and stimulating spending at surrounding restaurants, hotels, and retail establishments,” according to the union letter. “SL Green, Caesars, and Roc Nation estimate that a gaming and entertainment venue in Times Square will attract in excess of 10 million new visitors to New York City annually.”