Michael Hershman, CEO of Soloviev Group, remains optimistic about his $11 billion Freedom Plaza casino project in New York following the committee rejection of Caesars Entertainment and SL Green Realty’s Times Square proposal.
Why Manhattan Deserves One Casino License
Hershman emphasizes Manhattan’s high tourist traffic as justification for a major integrated resort. With New York State’s casino revenue up 4.7% to $65 million in August, he argues there is strong demand for additional gaming options. The state plans to award three licenses in 2025, and Hershman believes Manhattan should receive one.
The Freedom Plaza project promises thousands of union jobs and hundreds of millions in community benefits, which Hershman sees as more concrete than competing proposals.
What Happened During Tuesday’s Vote
On September 17, the New York Community Advisory Committee voted on Caesars’ Times Square plan, which needed four votes to advance to the Gaming Facility Location Board. It only received two, effectively killing the bid. Hershman has focused on community engagement, highlighting input from neighbors, local leaders, and civic partners for the Freedom Plaza project.
How This Changes the License Race
With Caesars eliminated, competition now centers on Hershman’s Freedom Plaza and Steve Cohen’s Queens proposal with Hard Rock International. Final committee votes must conclude by the end of September, putting pressure on remaining applicants.
Hershman views Caesars’ rejection as validation of his strategy prioritizing legally-binding community benefits over corporate lobbying. His team has spent months cultivating relationships with faith leaders, unions, and residents, betting that grassroots support will influence the New York State Gaming Commission’s final decisions later in 2025.
The Manhattan casino race is narrowing, highlighting which players have community support and which do not.
