News HomeMost Read News
Jay-Z Could Have a Casino in NY
When New York announced that they’re giving out gaming licenses, casino brands went wild. But some of the local businesses didn’t as a casino could cripple them. The officials behind the decision on licenses have taken loads of applicants and are due to decide this year.
Caesars and SL Green are together in the fight for a license. They have partnered with Roc Nation, a company owned by none other than Jay-Z. The company’s officials have released a letter that states just how the community could benefit if Caesars and Roc Nation could benefit got a gaming license.
Roc Nation Has Partnered With SL Green and Caesars Entertainment
The NY gaming licenses have attracted loads of big brand names in the casino industry. They have applied for a license and the commission in charge of granting them will need to make up its mind by the end of 2023.
Each applicant will need to pay a fee of a million, which is non-refundable. On top of that, brands will need to invest $500 million in further fees and another $500 million in investments. These are hefty fees for the brands, that must also face each other as competitors.
SL Green and Caesars Entertainment are partnered and they share a partnership with Roc Nation. Jay-Z has expressed his support for a casino in NY. Roc Nation released a letter that details why they should build the casino in Times Square. The letter states that the company will give Broadway $115 million if the project comes true. It also states the numerous benefits the community will have if a casino is built by Caesars, SL, and Roc Nation.
This project would attract tourists and Broadway workers would get daycare for their children, and the casino is hailed as the Crossroads of the World. Regardless of the letter, the commission in charge of the licenses will need to think long and hard about deciding which brands get the license. They will also need to consider the opinions of locals and their businesses when making this decision.
Conclusion
Jay-Z has expressed his wishes via a Roc Nation letter which states that the state of NY should grant his company and his partners a gaming license for a NY casino in Times Square. The letter could be an attempt to sweeten the deal as it offers several benefits to the community. Still, the official decision on the gaming licenses has not been made as officials will announce it at the end of the year.
