Victoria Bailey, the executive director of the Theatre Development Fund (TDF), which maintains the discount booth, said in a statement, "We have found that having a dedicated window to sell same day tickets to non-musical productions has been of great service to New Yorkers and tourists who enjoy seeing the newest plays on and Off Broadway, but are sometimes daunted by the lines at TKTS when we first open in the afternoon. With the old name, 'Play Only,' many customers thought that they couldn't purchase tickets to plays at the other eleven TKTS windows. The fact is that tickets to plays may be purchased at any ticket window - but using the 'Play Express' window will shorten their wait time considerably. We feel this new name helps to clarify that."
Check the board when you visit the booth to see what shows are offering tickets. Any show marked with a “P” will be available at the Play Express window, in addition to the regular (but likely featuring-longer-waiting-lines) TKTS windows.
The Times Square TKTS booth is located at Broadway and 47th Street. Hours are 3-8 PM for 8 PM performances Monday-Saturday (2-8 PM on Tuesdays for 7 PM performances); 10 AM–2 PM Wednesday and Saturday for 2 PM matinees; 11 AM-3 PM Sundays for matinees; and 3 PM-7 PM Sundays for evening performances.
For even shorter waits for tickets to all shows, you might also take a look at TDF's Lower Manhattan TKTS Booth at South Street Seaport (corner of Front and John Streets) or TKTS Downtown Brooklyn at 1 MetroTech Center at the corner of Jay Street and Myrtle Avenue Promenade. For more information and hours go to www.tdf.org/tkts.