If a bid to develop a Caesars-branded casino in New York City’s Times Square proves successful, it would mean a $10 million payday for the CEO of the casino’s real estate partner. The fact that SL Green Realty CEO Marc Holliday could collect such a large bonus if Caesars gets a license to operate the casino shows just how seriously interested parties are taking the bidding.
The proposed casino would cost billions of dollars in construction costs and licensing fees. Its potential revenue is larger still. The sums involved highlight how receiving one of only three licenses to operate a casino in the downstate part of New York is an irreplaceable opportunity. Bonuses like those that Holliday stands to receive motivate stakeholders to stop at nothing to seize the chance.
