World-famous musician Jay-Z is throwing his name behind a plan to bring a Caesars casino into the heart of New York City.
Roc Nation, an entertainment agency founded by JAY-Z, announced that it would be the “official entertainment partner” of SL Green and Caesars Entertainment in their bid for a Times Square casino.
“New York is a beacon, the epicenter of culture. We have the opportunity to create a destination at the heart of Times Square, the true crossroads of the world,” Shawn “JAY-Z” Carter said in a statement. “My partnership with SL Green and Caesars, this coalition, has all the promise and commitment to economic opportunity, growth and enrichment for the community and everyone who visits the Empire State.”
“There’s no better partner than JAY-Z and Roc Nation to help Caesars Palace Times Square ensure that Times Square remains a global entertainment hub and an economic engine for New York,” said Marc Holliday, Chairman & CEO of SL Green. “Together, we will bring the nearly 130 million annual pedestrians a stronger and more exciting Times Square to visit, reunifying the bow tie around a new set of innovative programming that will appeal to New Yorkers and tourists.”
SL Green, Manhattan’s largest office landlord, is a real estate investment trust (REIT) that acquires, manages and “maximizes the value of Manhattan commercial properties.” As of Sept. 30, SL Green held interests in 62 buildings totaling 33.6 million square feet.
“We are thrilled to have Roc Nation and JAY-Z join our partnership to bring Caesars Palace to Times Square,” said Tom Reeg, CEO of Caesars Entertainment. “Times Square has been the heartbeat of American Entertainment for over a century. Through our shared vision, we will build a world-class destination specifically designed to complement and elevate today’s Times Square experience, ensuring it remains a magnet for visitors and a hub of creativity for years to come.”
Caesars Palace Times Square will be 100% privately funded. Caesars will license its brand and manage the operations under a long-term management contract.
