Hip-hop mogul Jay-Z is looking to expand his business portfolio, and like any good businessman this time it includes gambling. SL Green and Caesars Entertainment have reportedly welcomed one of New York’s finest as a new partner in their potential casino in New York City’s Time Square.
The group of investors are bringing the Brooklyn-born rapper and his Roc Nation, Realty Check, on to be in charge of entertainment programming for several properties in Times Square. SLG, NYC’s largest commercial landlord, has interests in these properties to be a total of more than four million square feet. The location is supposed to be 1515 Broadway.
The hoped-for casino is set to be called Caesars Palace Times Square. The property will be eight floors in the over 50-story tower between West 43rd and 44th. This will include restaurants, entertainment, and a hotel created in the building above.
Threats to the Business Venture
However, there is concern about the casino threatening local theater sales, but SL Green trusts it will support the industry. In addition, these three will have to compete with a few other investor groups anticipated to submit proposals for the “boutique”-size casino.
Jay-Z said in a statement, “New York is the epicenter of culture. We have the opportunity to create a destination at the heart of the true crossroads of the world… My partnership with SL Green and Caesars has all the promise and commitment to economic opportunity, growth, and enrichment for the community and everyone that visits the Empire State…”
Hov: Hip-Hop Billionaire
The hip-hop billionaire has earned his respect as a businessman entering deals with TIDAL, LVMH, JetSmart, Roc-A-Fella Records, and the list goes on. He has also invested in art and real estate with his superstar wife, Beyoncé, over the years. Carter shows that you can turn one dollar into one million dollars.
While the casino plans take place, Jay-Z is also dealing with a legal battle over financial transparency between him and Bacardi. As for this opportunity, New York will issue a formal request for a proposal for the casino next month. Then the panel will pass some responses to a state siting committee. Finally, they will hopefully choose one location in the five boroughs before next year.
Written By: Vhannah | Instagram: vhannahmontana