JAY-Z Vows That NYC Casino Bid Will Be Beneficial To Local Community
JAY-Z and his team continue to push in their efforts to open a casino in the heart of Manhattan. They have vowed that the local community will benefit from the initiative.
As per New York 1 JAY-Z stood on business earlier this week in their pursuit to build a gambling facility in the Times Square section of the Big Apple. The MC and Roc Nation senior leadership attended a meeting on Wednesday, July 23 at the NY State Capital with Caesars and real estate developer SL Green in hopes to secure one of three real estate licenses up for grabs. The “What More Can I say” rapper made it clear that their intentions for the project are to keep the best of interests of the people and local businesses will be kept top of mind with each step. So much so the collective have pledged to over $81 million dollars in funding to support keeping the Times Square area safe. Their official bid, which was just formally submitted, aims to produce almost seven billion in tax revenue for the city and $7 BILLION in new taxes and commits close to $250 million to a separate community fund. Additionally, the collective estimates the casino will create 3,800+ full time jobs and 3,000+ construction jobs.
As per IGamingBusiness JAY-Z admitted he was feeling reserved at the meeting but did offer some detail reassuring that the proposed Caesars casino would benefit the town. “I’m trying to reserve myself – it’s a very good idea,” Hov said. “Very good alignment for us to fulfill the promise of Times Square.” Before closing the discussion he doubled down on the commitment to the people. “As we hear a lot of talk about the community, we are the community. Anything that we’ve done in the past [at Roc Nation], we always included the community” he added. The New York State Gaming Commission is slated to award three gaming licenses by the end of the year. Each bid must received a two-thirds majority vote in order to advance to the next phase of the award process. You can see footage from the meeting below.
