Time-Out was a chain of arcade centers established in 1970 by Tico Bonomo, with locations primarily in shopping malls across the United States. These arcades were known for their distinctive tunnel-like entrances and vibrant interiors, designed to attract patrons.
This location was inside the Center Ithaca mall in downtown Ithaca and opened sometime prior to 1982 and likely closed before the decade ended.
Reference:
https://www.newspapers.com/article/the-ithaca-journal-ad-for-time-out-ithac/170021829/
https://www.newspapers.com/article/the-ithaca-journal-ithaca-arcades-1982/168951953/