A group of local businesses backs the new Caesars Times Square casino.

The Coalition for a Better Times Square (CBTS) has released a statement in support of Caesars Entertainment’s plan to build a new casino in Times Square. In fact, the statement explains how the casino would help local businesses and Broadway theaters.

The New Caesars Times Square is supported by a group of local businesses.

CBTS, an organization made up of theater workers, local business owners, hotels, construction companies, and other stakeholders in Times Square and nearby areas, has come out in support of Caesars Entertainment’s latest gambling and entertainment project in New York’s famous Times Square. Also, they say that the new arena would be good for all local businesses because it would bring in an estimated $967 million a year.

Times Square and the Area Will Get a Boost from Caesars Casino

New York State granted New York City three new casino licenses. Moreover, caesars Entertainment is working with real estate investor SL Green Realty Corp to get one of these licenses.

In addition to that, according to Broadway World, CBTS supports the initiative because it would bring visitors and New Yorkers back to Times Square, which has been virtually deserted since the outbreak.

The new structure is expected to attract 7 million visits, equivalent to 636,000 hotel nights outside Caesars. Local customers spend $166 million in stores annually.

David Levy, the CBTS’s communications director for Actors’ Equity Association, believes the endeavor will benefit Broadway. He added the casino will bring more people to the theater and need spending money on traffic and security.

Caesars Rewards will partner with local companies, according to Caesars Entertainment. Moreover, reward points may be redeemed for restaurant meals, retail vouchers, Broadway tickets, and more. The company promises the new project would aid all companies.

Not everyone likes the Caesars project.

In fact, many groups have voiced reservations about Caesars’ Times Square casino idea. The Broadway League, a trade group representing Broadway businesses, says a casino in Times Square will worsen traffic.

Also, the group says that Broadway is the main reason people come to New York and that a casino will make the items less valuable. This would disrupt Broadway theater, hurting the neighborhood and New York.