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Jay-Z Is One Of The Billionaires Interested In Opening A Casino In Times Square

Brooklyn’s finest wants another casino in New York City.


Jay Z

Jay Z’s Roc Nation is making a push for an approval that would bring Caesars Palace casino to Times Square, according to Business Insider.


In an open letter, one of the greatest rappers of all time is urging New York City officials to grant Roc Nation a gaming license in an effort to open a casino in “conjunction with property firm SL. Green and Caesars Entertainment.”


The company planned to attract even more tourists to the city, as well as “improving New Yorkers’ lives."


Additionally, the company is also promising $115 million for diverse theater programs, which would cover daycare expenses for Broadway workers.


Roc Nation said the plan will include investing in sanitation and security in the Times Square area, vowing to “protect the interests of the Broadway theater community.”


The company said the winning bidder “must always put the well-being of New Yorkers at the top of their agenda and do right by its residents.”


It contends that the group is committed to maintaining Times Square’s connection with “all facets of culture” and there isn’t a better location for a Caesars Palace casino than the “Crossroads of the World,” according to Business Insider.


Roc Nation joined Caesars Entertainment and SL Green’s bid last December.


My partnership with SL Green and Caesars, this coalition, has all the promise and commitment to economic opportunity, growth and enrichment for the community, and everyone who visits the Empire State,” Shawn Carter said.


Applicants for the gaming license must pay a $1 million fee, which is nonrefundable, according to the New York Times. Those applicants must also be prepared to invest $500 million and an additional $500 million in fees.


Still, a decision per the state’s gaming commission isn’t expected until later in 2023.


But, of course, Jay Z isn’t the only suitor. Other New York City billionaires vying for the casino are Miami Dolphins owner Stephen Ross, developer Stefan Soloviev, hedge-fund billionaire and New York Mets owner Steve Cohen and CEO and WABC owner/talk-show John Catsimatidis.


While there are technically three licenses, it is expected that two of the licenses will go to Genting Resorts World at Aqueduct and MGM-Empire City Yonkers, according to the New York Post.


Photo Credit: DepositPhotos.com

1 Comment


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