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Brooklyn native Jay-Z is trying to bring some of that influence downtown.
The billionaire has been trying to expand his portfolio with a Times Square casino bid, and now he’s attempting to sweeten the pot by promising the Hell’s Kitchen community $250 million in hopes that it will help him win the bid.
His interest in opening a casino in the middle of the city began in 2023 when his entertainment agency, Roc Nation, published an open letter hoping the community would support him in getting the gaming licenses among the other contestants. New York was only awarded one license, which makes the highly profitable casino rights even more coveted.
But as for that quarter billion dollars, Jay touted that it would not only make the area more lively but also benefit all the businesses surrounding the casino.
“We are New Yorkers. Supporting and providing opportunities for our neighborhoods and community isn’t just a part of Roc Nation’s ethos. It’s our collective responsibility,” the rapper said in a statement. “Any proposal that wins a gaming license will undoubtedly profit. Our vision is to give back to New York and ensure that the Broadway community, Hell’s Kitchen, and the surrounding businesses and areas all benefit. And not just for a minute, but for the long-term.”
The specifics include an initial $15 million to the community and continuing grants of .5% based on the casino’s profit.
Jay-Z has some heavy hitters teamed up with him on the bid, and they share the weight of the costs—Caesars Entertainment and SL Green Realty—to hopefully open a Caesar’s in the Crossroads of the World.
But others with deep pockets are also aiming for the license, including MGM Resorts International, Mohegan Sun, Bally’s Corporation, and Mets owner Steve Cohen alongside Hard Rock International. They all have different dream landmarks for where they’d place their slot machines and blackjack tables.
There’s no telling who will win the bid, but the decision is expected to be made this year.
See how social media is reacting to Jay and his partners (possibly) opening a new business below.
