The Source |Jay-Z Among Investors Looking To Open Times Square Casino

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Several recent reports have confirmed that music mogul Jay-Z has joined a group of investors that are looking to open a casino in NYC’s Times Square.

The New York Posts reports that Mr. Carter has linked up with SL Green and Caesars Entertainment to open a casino in an office tower already owned by Green located at 1515 Broadway. Green, who is the largest commercial landlord in NYC, owns six other properties in Times Square, all of which Jay-Z will control the entertainment programming at those properties.

“New York is the epicenter of culture. We have the opportunity to create a destination at the heart of the true crossroads of the word,” Carter said in a statement.”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.”

Slated to be dubbed Caesars Palace Times Square, the gambling establishment would occupy eight floors in the 54-story tower between West 43rd and 44th. The casino floors would also house restaurants and entertainment venues, while an five-star hotel would be built in the building over the casino.

Still, Jay-Z and Co. face a host of other bidders who are vying for the Times Square property, including Wynn Resorts, New York Mets owner Steve Cohen and Soloviev Building Company.

The state will issue a formal request for proposal (RFP) for casino applicants in January. The selection panel will then progress the strongest responses to a state siting committee, which is expected to choose one location in the five boroughs before the end of the year.





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