Jay-Z’s Roc Nation, alongside partners SL Green and Caesars, is making its latest pitch to open a casino in New York City’s Times Square.
Hov hopes to bring a multi-billion-dollar casino to the heart of Broadway by obtaining one of the three available casino licenses for the downstate area. Ahead of a second hearing with the Community Advisory Committee on Thursday (Sept. 11), the Roc Nation mogul sat down with City & State New York to detail why his plan for NYC’s first casino should reign supreme.
“New York City is the entertainment capital of the world, so the idea of a world-class casino here makes perfect sense,” Jay said. “I’ve always looked at opportunities that can shift culture while uplifting communities, and Caesars Palace Times Square is exactly that.”
He added that the new casino would be “an extension of culture, an extension of the energy and action that makes New York the city it is.”
The Roc Nation bid hopes it will stand out among the rest due to its plans to give back to the surrounding NYC community. The company pledged to invest $15 million to the surrounding area if their license is granted in addition to 0.5 percent of the casino’s profits, all part of a $250 million community funding promise.
“Our vision is to build a destination that not only attracts visitors but also gives New Yorkers a place they’re proud to enjoy. A casino here doesn’t compete with Times Square – it complements it,” he added in his latest interview. “We’re creating a hub that draws even more people into the neighborhood, generating new energy, new business, and new opportunities for everyone.”
Officials for the Times Square casino bid have already begun the community outreach process to align with initiatives from marginalized communities in the area to pour into.
“The way we put it in our application is we made our license contingent upon us providing and writing these checks,” Roc Nation CEO Desiree Perez told Billboard. “For example, for the LGBTQ initiative, we’re providing five million dollars to Callen-Lorde. We’re just putting the money in their hands and they’ve agreed with us. We have an agreement with them in writing about what they are going to do with that money.”
She continued to explain: “So that’s how we’ve done it with each one of these, and the beauty is, let’s say we get the license tomorrow, the day after we’re paying. We don’t have to build out our casino or be in business in order to pay the money. It would be the quickest money to the ground for the community.”
It’s been a slow-moving process, but Jay and company should know if they’ll be in an “Empire State of Mind” in the near future when it comes to breaking ground on the first NYC casino.
