JAY-Z is investing everything in a new business endeavor.
The first full-scale casino will open in Times Square in New York City thanks to the wealthy rapper and his label, Roc Nation, joining forces with an investment partner.
In their pitch for the cutting-edge gambling establishment, which will be situated at 1515 Broadway, SL Green and Caesars Entertainment have chosen Roc Nation as their official entertainment partner.
According to a press release, Roc Nation will collaborate with neighborhood organizations to reimagine programming in Times Square in order to contribute to its revitalization.
“New York is the center of culture and a beacon. We have the chance to develop a destination in the middle of Times Square, the actual global intersection, said Shawn “JAY-Z” Carter. “My cooperation with SL Green and Caesars, this coalition, has all the promise and commitment to economic opportunity, growth, and enrichment for the community, as well as everyone who visits the Empire State,” said the coalition’s leader.
The 54-story structure would house the casino, which will be dubbed Caesars Palace Times Square, on eight floors. The building would also have a theater on the ground floor and an 800-room, five-star hotel.
According to Marc Holliday, Chairman & CEO of SL Green, “There is no greater partner than JAY-Z and Roc Nation to help Caesars Palace Times Square ensure that Times Square remains a global entertainment magnet and an economic engine for New York.” Together, we will make Times Square a stronger and more interesting place for the roughly 130 million annual pedestrians to visit by reuniting the bow tie around a new set of creative programs that will appeal to both New Yorkers and tourists.
JAY-Z has already experimented with gambling. He teamed up with Fanatics last year in an effort to launch a mobile sports betting provider in New York.
The 53-year-old mogul, who is estimated to have a net worth of $1.5 billion and is the richest person in hip-hop, is also working with Amazon CEO Jeff Bezos to possibly purchase the Washington Commanders.
