The orange neon sign from Peep-O-Rama, a smut shop in New York City's Times Square which closed its doors eight years ago, now will hang at "the visitors center run by the Times Sqaure Alliance" in a remembrance of things past as reported by Sam Roberts for The New York Times: "Under the sign are three genuine peep show booths, equipped with video screens that -- don't blush -- display very G-rated articles from The New York Times and photographs about Times Square's evolution."
The Mafia allegedly had a number of interests in Times Square during the 1970s and 1980s including smut shops, jiggle joints, massage parlors and gay bars. For example, Bruce Benderson, author of User, writes the following about the Hay Market -- a hustler bar in Times Square -- in which reputed Genovese capo Matty Ianniello allegedly had an interest:
Don't believe the hype about the infamous Stonewall bar being an oppressive place where sad homosexuals had to hide from police oppression and where Mafia bosses exploited their desperation. Any illegal bar run by the Mafia always has the hottest, most inspiring atmosphere. * * * [W]e owe them a debt for having created good illicit bars[.] * * * As for me, I probably wouldn't have written a decent sentence if I hadn't discovered Times Square and the hot Puerto Rican hustlers who came down from the South Bronx to frequent its mostly Mafia-owned bars. * * * The first and most famous Times Square bar I ever went to was called the Haymarket. * * * In those days, a lot of the hustlers were poor white kids. Since the minimum drinking age in those days was 18 (rather than today's 21), there was some very young trade in there. The place was pulsing with young testosterone and horny old men willing to spend the $20 on some fresh meat.
Ianniello was convicted in 1985 for skimming profits out of some of his gay bars, including the Hay Market, without paying proper due to the IRS.