Jay-Z's Rock Nation Wants To Join Times Square Casino Action

SL Green and Caesars Entertainment seem to have been boosted by their pursuit of a commercial casino in Times Square, New York City. The two are now partners with Rock Nation, an entertainment agency founded by popular hip-hop artist and producer Jay-Z. The trio will certainly form a strong case when bidding for casino licenses.

To be considered by the state as one of the three Downstate Casino licenses, each proposal must meet several criteria. One of the requirements is to have the support of the local public. Only then will the Community Advisory Committee review the bid and evaluate its public interest. If the public approves the project, the committee can approve it.

Shawn Carter, also known as Jay-Z, commented in a Rock Nation press release that the idea was to develop a destination at the heart of Times Square, the world's true intersection. According to him, partnerships with SL Green and Caesars Entertainment have the potential and commitment to economic opportunities, growth and community enrichment.

The casino property will be named Caesars Palace Times Square and will attract more than 7 million new visits per year, according to the casino operator's initial estimate. It will also secure more than 600,000 overnight visits to local hotels and offer more than 7 million new meals to restaurants, with retail sports betting worth more than US$166 million.

Caesars Entertainment CEO Tom Rigg said Times Square has been American Entertainment's heartbeat for more than a century. He says the coalition will use a shared vision to create a global destination designed to complement and enhance the experience, thus ensuring that the region remains a landmark for visitors for future generations.

The trio's huge bid looks likely to win one of the three available licenses, as it has already received support from a broad coalition of Times Square stakeholders. They represent construction labor, Broadway labor, restaurants, hotels, small businesses, theaters, and local residents.

However, the trio will face serious competition in their pursuit of full casino permits. Most recently, property developer Stefan Soloviev has also expressed interest and has already begun discussions with Las Vegas gambling brands to bring casinos to the south of the U.N. building in Manhattan.

A few months ago, Wynn Resorts and related companies announced their intention to participate in the bidding process. If approved by the state government, it plans to establish a non-tribal casino in Western Yaz, Hudson Yaz. The new gaming venue will aim to provide entertainment in gambling and thousands of permanent and construction jobs

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