Jackpot!- Caesars Palace could be coming to Times Square

New Yorkers may soon have their very own gambling destination in Times Square.
Caesar's Entertainment and developer SL Green announced a joint bid for a casino located in the heart of Times Square.
Developers say the proposed casino would transform 1515 Broadway into Caesars Palace Times Square and include a Broadway theatre for The Lion King and other entertainment attractions.
The approval process is expected to cost at least $500 million.