Superstar rapper Jay-Z has made it known that Times Square is his choice for a downstate New York casino license. That’s not surprising considering his company, Roc Nation, has partnered with developer SL Green and Caesars, who are competing for one of three downstate casino licenses and whose project sits at 1515 Broadway, in the heart of Times Square.
Makes Perfect Sense
When asked why Times Square was a viable location for a casino, Jay-Z replied, “Makes perfect sense.” The hip-hop legend explained his view, stating the following:
“New York City is the entertainment capital of the world, so the idea of a world-class casino here makes perfect sense,” he explained. “I’ve always looked at opportunities that can shift culture while uplifting communities, and Caesars Palace Times Square is exactly that. For me, it’s an extension of culture, an extension of the energy and action that makes New York the city it is.”
Community Concerns and Opposition
Although people may enjoy the music he makes, a casino in their neighborhood is a completely different subject, one that can draw scrutiny from activists and members of the community. Although the project is expected to deliver $7 billion in tax revenue and almost $250 million in community benefits, there has been community backlash, and some polls suggest that nearly 70% of the Times Square community is against the project.
Despite the negative press, Jay-Z remains staunch in his support for the casino, saying, “Our vision is to build a destination that not only attracts visitors but also gives New Yorkers a place they’re proud to enjoy,” he continued. “A casino here doesn’t compete with Times Square—it complements it. We’re creating a hub that draws even more people into the neighborhood, generating new energy, new business, and new opportunities for everyone.”
Giving Back
The community will get a piece of the action as well, according to a pledge by the group that it will invest $15 million in the surrounding area if its license is granted, in addition to 0.5 percent of the casino’s profits.
Roc Nation CEO Desiree Perez expounded upon the company’s commitment to the area, stating, “The way we put it in our application is we made our license contingent upon us providing and writing these checks. For example, for the LGBTQ initiative, we’re providing five million dollars to Callen-Lorde. We’re just putting the money in their hands, and they’ve agreed with us. We have an agreement with them in writing about what they are going to do with that money.”
Perez continued to explain, “So that’s how we’ve done it with each one of these, and the beauty is, let’s say we get the license tomorrow; the day after we’re paying. We don’t have to build out our casino or be in business in order to pay the money. It would be the quickest money to the ground for the community.”
Competition and Opposition
The Times Square project is just one of eight being considered for three licenses. Each project has powerful consortia behind it, and earning community support is critical. As of this moment, there are several groups against the Times Square Casino; notable among them is the No Times Square Casino coalition, organized by the Broadway League, that believes a Times Square casino project will have deleterious effects on Broadway.
