A proposed New York casino in Times Square now involves one of the city’s most prominent figure.
Roc Nation, the entertainment agency founded by Jay-Z, has entered the fray alongside SL Green and Caesars Entertainment as the official entertainment partner of a proposed casino at the Center of the Universe.
This now provides the bid with a trifecta, according to a press release: SL Green, New York’s largest owner of office properties; Caesars, the nation’s leading gaming company; and Roc Nation, the “world’s preeminent entertainment company. Together, they look to bring a Times Square property into the NY casinos landscape.
‘No better partner’ than Roc Nation to help Caesars NY Casino
Roc Nation will “help revitalize Times Square” by reimagining the programming offered in the “bow tie” of the district.
“New York is a beacon, the epicenter of culture,” Shawn Carter, AKA Jay-Z, said in the press release. “We have the opportunity to create a destination at the heart of Times Square, the true crossroads of the world.
“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, chairman and CEO of SL Green, said there was “no better partner” than Roc Nation to help ensure Caesars Palace Times Square “remains a global entertainment hub and an economic engine for New York.”
“Together, we will bring the nearly 130 million annual pedestrians a stronger and more exciting Times Square to visit, reunifying the bow tie around a new set of innovative programming that will appeal to New Yorkers and tourists.”
Caesars Palace Times Square to accelerate NY economic recovery
According to the release, Caesars Palace Times Square expects to “provide billions in tax revenue” to New York. It will also accelerate the area’s economic recovery.
The group estimates that the new casino will heavily benefit the area.
- Over seven million new visits each year
- More than 600,000 overnight visits to local hotels
- More than seven million new meals for local restaurants
- Over $166 million in retail spending
- More than $65 million in new annual Broadway ticket sales
The casino will incorporate the Caesars Rewards program as well. Members can use credits at Broadway shows, local hotels and restaurants, as well as stores and entertainment venues.
“Times Square has been the heartbeat of American Entertainment for over a century,” Tom Reeg, CEO of Caesars, said in the release. “Through our shared vision, we will build a world-class destination specifically designed to complement and elevate today’s Times Square experience, ensuring it remains a magnet for visitors and a hub of creativity for years to come.”
Chances of NY casinos in Times Square
Each proposal for a downstate NY casino license must complete several steps before the state even considers the bid.
Among them: A local community advisory committee reviews the proposal and gauges public interest. Only after the public approves will the committee sign off. According to the latest press release, this project has just that.
The casino garnered support from”a broad coalition of Times Square stakeholders representing construction labor, Broadway labor, restaurants, hotels, small businesses, theater and local residents.”
“We have a brand that would be among those that should be considered for a big-city casino,” Reeg recently told PlayNY.
As he told PlayNY, when it came to a Caesars casino in New York, it was Manhattan or nothing. Now, it seems this project could end up as one of the seriously considered proposals for a downstate NY casino.
“If it’s awarded,” Reeg said, “the only casino license in Manhattan. It’ll be a home run.”