Jay-Z To Build Times Square's First Casino

Jay-Z was telling the absolute truth when he said, “I made the Yankee hat more famous than a Yankee can.” With that said, it makes absolute sense the Brooklyn native mogul would be first in line to bid on the construction of New York City’s first casino in Times Square. (New York City does have a casino at Aqueduct in Queens)

Jay-Z spoke about the casino bid: “New York is a beacon, the epicenter of culture. 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.”

The casino proposal was swiftly and fiercely opposed by The Broadway League back in October. The League emphasized its casino resistance last month in a letter to its members, contending that a casino would not draw out-of-towners, and that gambling houses, by design, are fashioned to keep consumers inside their own walls. Jay-Z (with Roc Nation) evidently disagrees.

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The casino would be situated at 1515 Broadway and would be named Caesars Palace Times Square. Tom Reeg, CEO of Caesars Entertainment, said in regards to Jay-Z‘s casino bid: “We are thrilled to have Roc Nation and Jay-Z join our partnership to bring Caesars Palace to Times Square.”

It’s estimated the Caesars Palace Times Square would attract 7+ million new visits annually to the district, and also hike up businesses in the vicinity by tens of millions of dollars. Further, the casino coalition have threw in an award plan membership that would permit casino goers to use credits toward restaurants, local hotels, Broadway venues, and other community businesses.

Photo Credit: Leon Bennett / Stringer | Getty Images

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