Times Square Plots Its Comeback, and It Looks Like Las Vegas
$6,000 Welcome Bonus
Times Square is planning to become more like Las Vegas. New York's economy is recovering fast. Times Square's businesses employed 66,000 people before the pandemic. Governor is going to end the ban on new casinos this year. New Yorkers want a casino. SL Green Realty Corp. wants to build a hotel near Times square. It wants as many as three casino licenses for the city. The state has a ban until 2023. A study says Timessquare's economic output was equivalent to the City of Nashville's in 2016. Its businesses accounted for 15% of NewYork's GDP.
Josh Gatewood's restaurant was robbed three times and he was forced to close last November. The Planet Hollywood restaurant in Times Square closed in 2020 and never reopened. Robert Earl plans to open a new Planetollywood restaurant on 42nd Street in late 2022. Some investors are buying Times square hotels at bargain prices. MCR and Island Capital Group LLC paid $373 million for the M CR hotel last week.
