The Big Apple is about to roll the dice on gambling, and plenty of billionaire investors need to try their luck at winning the massive prize.
Elected officials have finally authorized one casino license within the Big Apple (that is right—only one for a city of 8 million people), causing an enormous and sometimes ugly bidding war between various wealthy suitors.
One interested party is nonother than Jay-Z and his entertainment company Roc Nation. The entrepreneur famous for saying, “I’m not a businessman, I’m a business, man,” has teamed up with SL Green and Caesars Entertainment to propose constructing a Caesars Palace in the guts of bustling Times Square.
In an open letter on Roc Nation’s Instagram and Twitter titled “It’s Time, Times Square,” the corporate made a case for why they ought to be granted Latest York City’s gambling golden ticket.
“The winning group will need to have a track record of turning words into deeds — of putting Latest York City and its residents first — people of all races, religions, ethnicities, genders, sexual orientations and socio-economic statuses,” the statement said. “Our proposal lays out an modern plan that is not going to only draw additional tourists to our city but can even enhance the lives of on a regular basis Latest Yorkers.”
Jay-Z’s plan guarantees to provide back to surrounding businesses, profit mass transit, spend money on sanitation and security, and “deliver a much-needed transportation plan,” amongst other things. “Our bid commits $115 million for diverse theater programs that include daycare for Broadway staff and their families,” the letter said.
Related: Jay-Z Invests Big Money in a Robo Pizza Truck That is Solving a Major Food Industry Problem
An all-out bidding war
Latest York voters approved of Las Vegas-like casinos of their state in 2013. However it wasn’t until last yr that elected officials in Albany authorized casino licenses for downstate Latest York, including Latest York City, Long Island, and Westchester County.
The prospect of opening a completely operational casino in the most important city in America has billionaires salivating to grow to be the King of Latest York casinos. Other than Jay-Z, other bidders include Latest York Mets owner Steve Cohen, Gristedes supermarket scion John Catsimatidis, and Hudson Yards developer Stephen Ross.
“Every billionaire wants a casino. The epitome of success within the US is to own your individual casino,” a source told The New York Post.
Nevertheless, the billionaires have different ideas about where they need to construct their casinos. Cohen has teamed up with Hard Rock and needs to open a casino around Citi Field in Queens, where the Mets play. Catsimatidis is eyeing Coney Island, famous for its boardwalk, amusement park, and hot dog eating contest. Ross, who has partnered with Wynn, desires to put the casino within the newly developed Hudson Yards.
Accusations of a ‘misinformation’ campaign
The Roc Nation letter, which also appeared in ads within the Latest York Post, Latest York Each day News, and Amsterdam News, accused some “conflicted parties” of spreading “misinformation,” claiming that they had written the letter to set the record straight.
While Roc Nation didn’t name names, some consider they could be referring to a coalition of Broadway theater owners and producers, the midtown Manhattan community, and tenant organizations calling themselves No Times Square Casino.
Based on an article in Deadline, the coalition opposes constructing a Caesars Palace in Times Square, also home to most Broadway theaters, citing traffic congestion, economic disruption, and making the realm “less welcoming to families.”
