Soloviev Group CEO Michael Hershman isn’t backing down after watching his competitors fail. His company is pushing the $11 billion Freedom Plaza casino complex in New York and isn’t worried about the Caesars Entertainment and SL Green Realty proposal that was recently rejected by the committee.
Why Manhattan Deserves One Casino License
According to Hershman, Manhattan attracts more tourists than any other borough, so it deserves “a fully integrated resort that’s fitting of its position as the global capital of the world.” New York State’s casino revenue jumped 4.7% to $65 million in August, highlighting strong demand for gaming options. With three licenses being awarded in 2025, Hershman believes Manhattan should secure one.
The Freedom Plaza project promises “thousands of union jobs” and community benefits worth hundreds of millions, which Hershman says is more concrete than other applicants’ proposals.
What Happened During Tuesday’s Vote
The New York Community Advisory Committee met on September 17. Caesars needed four votes to advance their Times Square plan to the Gaming Facility Location Board but only received two, ending their bid. Meanwhile, Hershman has focused on community engagement, highlighting that Freedom Plaza reflects “input from neighbors, local leaders and civic partners.”
The difference lies in approach: Hershman’s project promises legally binding community benefits, rather than vague commitments that might disappear once licenses are granted.
How This Changes the License Race
Steve Cohen and Hard Rock International’s Queens proposal remains pending, and all committee votes must be completed by the end of September. Hershman sees Caesars’ rejection as evidence that his community-focused strategy is more effective than big-money lobbying. “Despite the defeat today of two formidable applicants, we remain confident,” he said.
His team has been cultivating relationships with faith leaders, unions, and residents for months, betting that grassroots support will influence the Gaming Commission’s final decisions in 2025.
The Manhattan casino race is heating up as the field narrows and the strongest contenders emerge.
