For the second time in two months, a real estate developer has joined forces with a Vegas casino power player to put forward a project to build a betting palace in Manhattan.

SL Green Realty and Caesars Entertainment have announced a partnership to redevelop 1515 Broadway in Times Square as a casino.

The partners said Caesars Palace Times Square will be designed to include a Broadway theater that will be home to The Lion King. They also promised "significant security and traffic improvements" in Times Square.

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