Jay-Z’s company Roc Nation wants the city of New York to grant him a gambling license for a casino in Times Square.
His company spoke out in favor of the license in an open letter published on Thursday.
Roc Nation has pledged $115 million for Broadway theater programs if it gets the license.
Jay-Z’s company Roc Nation is trying to get a license to operate a casino at Caesars Palace in Times Square.
in one open letter To New York City officials, the music mogul is urging them to grant Roc Nation a gaming license to partner with real estate firm SL Green and Caesars Entertainment to open a casino after “conflicting parties” attempted to “spread disinformation” .
The company has unveiled a plan that it says will attract more tourists to the city and improve the lives of New Yorkers.
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It also pledged $115 million for “miscellaneous theater programs,” which would cover Broadway staffer childcare costs.
Roc Nation said its plan includes investments in sanitation and safety in the Times Square area and pledged to protect the interests of the Broadway theater community.
That’s why Jay-Z wants to open a casino
The company says that the bidder who wins the casino must “always put the well-being of New Yorkers first on their agenda and be fair to residents.”
It argues that the group is committed to maintaining Times Square’s connection to “all facets of culture” and that there could be no better location for a Caesars Palace casino than at the “crossroads of the world.”
Roc Nation joined Caesars Entertainment and SL Green’s bid in December. At that time said Jay-Z: “My partnership with SL Green and Caesars, this coalition, has a promise and commitment to economic opportunity, growth and enrichment for the community and everyone who visits the Empire State.”
According to the New York Times pay a $1 million non-refundable fee and be willing to invest $500 million and pay an additional $500 million in fees.
A decision from the State Gaming Commission is expected later this year.
Roc Nation did not respond to a request from Business Insider.
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