Jay-Z Reveals $115M Commitment to Diverse Theater Programs in Plan for Times Square Casino
Billionaire music magnet, Jay-Z is planning on building a Caesars Palace in Times Square to aid tourism and "enhance the lives of everyday New Yorkers," reports Daily Mail. He is competing against four other billionaires in a bid to open a casino and has requested New Yorkers to support him through an open letter via his entertainment agency Roc Nation.
The Empire State of Mind rapper penned a blueprint on "why he believes his company should be awarded the casino contract." He explained that the Times Square casino will "give back to all surrounding businesses" and "benefit mass transit." Jay-Z also proposed via the open letter that his company's bid will commit an estimated $115 million for "diverse theater programs" along with daycare for employees and their families.
The Roc Nation founder is currently bidding against Wynn Resorts and Mets owner, Steve Cohen, and has chalked out the outlines of his vision through an open dialogue regarding launching a casino in Broadway's famed theater district. The open letter stated that Jay-Z will be working in partnership with Caesars Palace and that this collaboration would benefit New York City residents. According to his letter, Caesars Palace Times Square will "protect the interests of the actors, producers, theatre staff, writers and patrons that represent the true heart and soul of Broadway."
The letter also pointed out why Caesars Palace and Roc Nation deserve this opportunity, hinting that they have a history of equal representation and sensitivity to social issues, unlike their competitors. "The winning group must have a track record of turning words into deeds — of putting New York City and its residents first — people of all races, religions, ethnicities, genders, sexual orientations and socio-economic statuses," the statement continued. "The winning organization must have a history of campaigning for fair hiring, representation, and reform," the statement continued. "Hate, as well as groups that have a history of oppressing the most vulnerable, have no place in New York."
In line with this, they hope to create "opportunity for all" by introducing a casino in New York. The maverick entrepreneur and billionaire music producer also added in the open letter that the Caesars Palace Times Square casino will "invest money into sanitation and security from the bowtie all the way west into Hell's Kitchen" and "develop and deliver a much-needed transportation plan."
According to TMZ, the proposed casino will reportedly be built on the top eight floors of an existing Times Square skyscraper, right in the middle of Broadway. This proposal has already been opposed by a few theater owners and producers who feel that the new investors may run them out of business. Each of the current bidders has proposed unique blueprints for developing a casino in New York, and the winner of the bid is expected to be announced by the end of the year by New York State.
