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Home/Jay-Z Joins Times Square Casino Project
Jay-Z joins Times Square casino project
During the month of October, Caesars Entertainment Group announced that it wanted to open a hotel-casino in New York City that would take place in the very heart of Times Square, if it is finally selected.
The project is being developed in conjunction with real estate investment trust SL Green Realty Corp.
Most recently, he was joined by famed rapper Jay-Z via his entertainment agency Roc Nation.
One of the most forward-thinking companies in the entertainment business
On Monday, December 5, 2022, SL Green Realty Corp. held its annual investor day. At the event, the real estate investment trust took the opportunity to announce the partnership with Roc Nation on the proposed hotel-casino project that could be built at 1515 Broadway in Manhattan.
For the moment, it is not yet known exactly what role Jay-Z’s agency will play in all this. Nevertheless, it is known that it is one of the most avant-garde companies in the international entertainment field and New York is undeniably part of its DNA. It was founded in 2008.
After working with Rihanna, among others, it diversified its activities 5 years later into the sports sector with clients such as basketball player LaMelo Ball and baseball player Robinson Cano among others.
>>> Read also: “New hotel-casino project presented in New York”
Strong opposition to the project
Even though rapper Jay-Z is proving to be extremely popular in New York, it’s not clear that his presence alone will quell opposition to the Times Square hotel-casino project.
The Broadway League, the professional association of Broadway theaters, has expressed its fears about this gambling establishment, which it believes will not benefit other businesses in the area.
The Shubert Organization, which is the largest owner of theaters in the area, has also expressed its opposition to the project, although it is not opposed to the presence of a hotel-casino in Manhattan.
Besides, there are other projects in this district such as the one carried by Wynn Resorts among others.
The facts of the project according to SL Green Realty Corp
Of course, SL Green Realty Corp believes that the opening of a hotel-casino in Times Square would be excellent news for Broadway. In fact, according to them, it would increase the number of visits to the already busy area by more than 7 million per year, while creating more than 600,000 additional room nights in nearby hotels.
In addition, the gaming facility would bring in billions in tax revenue for the city and state and would also accelerate New York’s economic recovery through strategic partnerships with area businesses.
And then Caesars Rewards members, which is the casino industry’s largest loyalty program, would be able to use their credits at Broadway shows, hotels, restaurants, stores, and local entertainment venues.
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