SL Green may meet the environmental review deadline for the proposed Times Square Casino project.
In the bustling heart of New York City, the race for casino licenses is heating up, with ten contenders now vying for approval after Saks Fifth Avenue abandoned plans for a gaming venue at their iconic Manhattan department store. As of mid-2025, the city is in the critical phase of reviewing proposals for three new downstate licenses, with eight remaining hopefuls eagerly awaiting the outcome of the evaluation process.
The environmental review process is a significant part of this evaluation, with applicants required to complete all entitlement processes by a key deadline on September 30, 2025. This thorough assessment, which includes land-use, zoning, and the State Environmental Quality Review Act (SEQRA), is designed to ensure that only proposals balancing development ambitions with community and environmental concerns will proceed.
SL Green, one of the competitors, expresses confidence that the state can meet the SEQRA deadline for their $4 billion casino hotel proposal at 1515 Broadway in Times Square. They have pledged $250 million in community investments for the project, including environmental and sanitation investments, and allocations to small businesses in the theatre district.
However, not all proposals are sailing smoothly through the environmental review process. Critics claim that the process is taking too long, and some contenders, such as Silverstein Properties (Hudson Yards) and the Soloviev Group, are reported to be at risk of SEQRA disqualification. Both parties have yet to comment on the matter.
Opposition to the Times Square casino effort is primarily due to concerns for local businesses and the theater community, not SEQRA issues. If delays in the SEQRA process continue, the number of New York City casino competitors could be further reduced, potentially shaping the competitive landscape for the city's casino market.
The environmental reviews are being conducted by the New York State Gaming Commission (NYSGC), which some critics argue may not be well-equipped to handle such complex environmental issues. Regardless, the outcome of these reviews and community assessments could critically influence the number of finalists progressing to the final licensing stage.
As the race for New York City's casino licenses continues, the stakes are high for all involved. The thoroughness and stringency of the environmental reviews ensure that only those proposals that can balance development ambitions with community and environmental concerns will proceed, potentially reshaping the competitive landscape for New York City's casino market. The final decisions are expected to be made by late 2025 or 2026.
The environmental reviews, conducted by the New York State Gaming Commission (NYSGC), are a significant part of the casino license evaluation process, ensuring that only proposals balancing development ambitions with community and environmental concerns will proceed in the mid-Atlantic region. SL Green's $4 billion casino hotel proposal at 1515 Broadway in Times Square has pledged significant community investments, including environmental and sanitation improvements, but other proposals are facing challenges during the SEQRA process. Critics claim that the process is taking too long, and Silverstein Properties (Hudson Yards) and the Soloviev Group are reported to be at risk of disqualification. Regional news outlets are closely following the evolution of this complex commercial gaming market, paying close attention to the regulation and environmental factors swaying the competition.
