A proposed Caesars Palace casino in Times Square that's backed by Jay-Z lost its bid for a gambling license Wednesday after running into fierce opposition from Broadway theater owners and producers who were worried about its potential impact on the theater district.
A state-commissioned community advisory committee brought the curtain down on the $5.4 billion plan to redevelop an office tower into a Caesars-branded hotel, gambling and entertainment complex, rejecting it in a vote that occurred after public hearings in which the Broadway League, actors, stagehands, restaurant owners and neighborhood residents lined up to oppose the project.
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