Jay-Z, Roc Nation Join Investors To Open Times Square Casino
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Jay-Z and Roc Nation have joined a gaggle of investors looking to build a casino in Times Square. Hov and Roc Nation, the rapper’s full-service entertainment agency, have partnered with SL Green and Caesars Entertainment for the ambitious venture, planning to bring the casino to the 1515 Broadway office owned by SL Green, reports The New York Post.
SL Green revealed Jay and Roc’s addition to the investor group at their annual investor conference on Monday (Dec. 5), disclosing that his entertainment agency will be the official entertainment partner in the purported deal.
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The proposed Times Square establishment will occupy eight floors in SL Green’s 54-story tower, with the ground floor reserved for non-betting uses, such as an entrance to the Minskoff Theater.
The newly formed group of investors have claimed that, due to the “halo effect,” the Big Apple gaming and betting center could potentially bring in “seven million more annual visitors to Times Square.”
They also claimed that the casino could generate seven million restaurant meals outside the establishment and “$166 million in retail purchases” in shops around the center, labeling it a win-win for every business in the immediate area.
The experienced businessman released a statement regarding his decision to join SL Green and Caesars Entertainment to bring a casino to Times Square.
“New York is a beacon, the epicenter of culture. We have the opportunity to create a destination at the heart of Times Square, the crossroads of the world,” Hov voiced in a statement. “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.”
Marc Holliday, SL Green’s chairman & CEO, also shared his own thoughts on the business venture, stating that there wasn’t a “better partner than Jay-Z,” and promised to bring forth a new set of “innovative programming” to the area.
“There’s no better partner than Jay-Z and Roc Nation to help Caesars Palace Times Square ensure that Times Square remains a global entertainment hub and an economic engine for New York,” added Holliday. “Together, we will bring the nearly 130 million annual pedestrians a stronger and more exciting Times Square to visit, reunifying the bowtie around a new set of innovative programming that will appeal to New Yorkers and tourists.”
