Jay-Z wants to open a casino in the heart of Times Square

The Big Apple is about to roll the dice on gambling, and many billionaire investors want to try their luck at winning the big prize.

Elected officials have finally authorized one casino license in the Big Apple (that’s right, just one for the city of 8 million), sparking a massive and sometimes ugly bidding war between various wealthy suitors.

One interested party is none other than Jay-Z and his entertainment company Roc Nation. The entrepreneur known for saying: “I’m not a businessman, I’m a business, man” has teamed up with SL Green and Caesars Entertainment to propose Caesars Palace in the heart of bustling Times Square.

In an open letter on Roc Nation’s Instagram and Twitter, titled “It’s Time, Times Square,” the company explained why they should be awarded the golden ticket to New York gambling.

“The winning team must have experience turning words into action to put New York City and its residents first, people of all races, religions, ethnicities, genders, sexual orientations and socioeconomic statuses,” the statement said. “Our proposal represents an innovative program that will not only bring additional tourists to our city, but also improve the lives of everyday New Yorkers.”

Jay-Z’s plan promises to give back to neighborhood businesses, use mass transit, invest in sanitation and safety, and “deliver a much-needed transportation plan,” among other things. “Our proposal provides $115 million for various theater programs that include day care for Broadway employees and their families,” the letter said.

Related: Jay-Z is investing heavily in a Robo Pizza Truck that solves a major problem in the food industry

All-out bidding war

New York voters approved Las Vegas-like casinos in their state in 2013. But it wasn’t until last year that elected officials in Albany allowed casino licenses in downstate New York, including New York City, Long Island and Westchester County.

The prospect of opening a fully operational casino in America’s largest city has billionaires salivating to become New York’s casino king. In addition to Jay-Z, other bidders include New York Mets owner Steve Cohen, Gristedes supermarket heir John Katsimatidis and Hudson Yards developer Stephen Ross.

“Every billionaire wants a casino. “Having your own casino is the epitome of success in the US,” a source told The New York Post.

However, billionaires have different ideas about where they want to build their casinos. Cohen has teamed up with Hard Rock and wants to open a casino around Citi Field in Queens, where the Mets play. Catsimatidis overlooks Coney Island, known for its boardwalk, amusement park and hot dog eating contest. Ross, who partnered with Wynn, wants to put the casino in the newly developed Hudson Yards.

Accusations of a “disinformation” campaign

The Roc Nation letter, which also appeared in ads in the New York Post, New York Daily News and Amsterdam News, accused some “conflicting parties” of spreading “misinformation,” claiming they wrote the letter to set the record straight. for:

While Roc Nation did not name names, some believe they could be referring to a coalition of Broadway theater owners and producers, the Midtown Manhattan community and a leasing organization calling itself No Times Square Casino.

According to an article by Deadline, the coalition opposes building a Caesars Palace in Times Square, which is also home to most Broadway theaters, citing traffic congestion, economic disruption and making the area “inhospitable to families.”

Source link