Jay-Z is trying to take his entrepreneurial game to the next level with a plan to generate more income for his beloved New York City. A while back, we told you that the GRAMMY Award-winning rapper’s Roc Nation partnered with Manhattan real estate developer SL Green and Caesars on a bid for one of just three casino licenses available in the city.
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If all goes according to his plan, Caesar’s Palace Times Square would be located at 1515 Broadway, just steps away from Broadway theaters and other tourist attractions, including Madame Toussaud’s wax museum. Jay and his team attended a Community Advisory Hearing on Sept. 11, where he stressed the benefits a casino would bring to the city and its residents.
For Jay, Times Square — the place that attracts millions of people who come to see everything from Broadway shows to the New Year’s Eve ball drop — is the perfect location for his idea, as he believes it will give visitors and locals one more reason to make the area a destination.
To those who feat that a casino would compete with an already struggling Broadway community, the “Empire State of Mind” rapper says the same people who come to his casino will see shows, book dinner reservations in local restaurants and stay in area hotels.
“[Added] security, cleaner streets, and jobs that support workers between shows – are what this project will make possible. We’re making real investments that benefit everyone who calls Times Square home,” he told City & State in a recent interview.
Besides the tourist dollars, Jay plans to invest money directly into the community. Roc Nation CEO Desiree Perez told Billboard that the company has pledged $250 million in support of local organizations that support public health and safety initiatives in the area, including the West Side Community Fund. They’ll also give New Yorkers a chance to own their own little piece of Times Square, with opportunities to invest in the casino starting at $500.
Jay-Z told City & State that he loves “the attitude, the culture and the energy” of New York City and wants to do what he can to give back to the city that made him who he is today.
“My hope is that as New York continues to change, we hold on to the best parts of what makes this city special, while improving the areas that don’t work for all New Yorkers,” he said.
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