Jay-Z and Roc Nation have joined a group of investors bidding to build a casino in New York City’s Times Square, the New York Post reports.
The hip-hop mogul and his entertainment company have entered into a partnership with SL Green and Caesars Entertainment, who hope to open New York City’s first full-scale casino at the 1515 Broadway office tower, which is already owned by SL Green. The plan is for the casino to occupy eight floors in the 54-story tower, and the ground floor will remain in use for non-gaming uses such as an entrance to the iconic Minskoff Theater.
In a statement, Jay-Z said, “New York is the epicenter of culture. We have the opportunity to create a destination at the heart of the true crossroads of the word. My partnership with SL Green and Caesars has all the promise and commitment to economic opportunity, growth and enrichment for the community and everyone that visits the Empire State.”
SLG chief executive officer Marc Holliday also shared more specifics about his company’s casino proposal. The casino would occupy only eight floors in the 54-story tower between West 43d and 44th streets. None would be the ground floor, which is earmarked for non-gaming uses including an entrance to the Minskoff Theater, home of “The Lion King.”
The casino floors would also house restaurants and entertainment uses. Holliday estimated that the “boutique”-size casino might occupy as little as 250,000 square feet of floor space, a postage stamp compared with typical, sprawling gaming floors in Atlantic City or Las Vegas.
A new, approximately 800-room, five-star hotel would be created in the building above them. Holliday said he was “not yet prepared” to address how the tower’s office tenants, including Paramount Global’s headquarters, would be affected.
Check out the rendering of the proposed Times Square casino below.
[…] proposed casino, set to be called Caesars Palace Times Square, would occupy eight floors in the 54-story tower between West 43rd and 44th. The casino floors […]