A well-financed campaign to build a casino in the heart of New York's theater district collapsed Wednesday as a government-appointed panel voted down the proposal.

Opposition to the project was led by community groups who said a casino would lure unsavory people and theater interests who argued it would cut into Broadway's business.

The Caesars Palace Times Square project, a venture whose sponsors include rap musician and entrepreneur Jay-Z's company Roc Nation, failed to clear a key hurdle at the Community Advisory Committee.

The CAC, which is composed of representatives of state and local officials, voted down the proposed $5.4 billion project by 4-2.

City Council Member Erik Bottcher said he voted no after "countless" conversations with constituents.

"This is not a decision I took

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