JAY-Z has long ruled the New York rap scene, and now he’s looking to make a big splash in the sports betting world.
Roc Nation, the full-service entertainment agency founded by JAY-Z, will be the official entertainment partner of SL Green and Caesars Entertainment in their bid for a new, state-of-the-art gaming facility at 1515 Broadway in Times Square.
“New York is a beacon, the epicenter of culture,” JAY-Z said in a press release. “We have the opportunity to create a destination at the heart of Times Square, the true crossroads of the world. 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.”
The partnership brings together three organizations – New York’s largest owner of office properties, the nation’s leading gaming company and the world’s preeminent entertainment company – to deliver a crucial plan for the world’s top tourist destination.
As a partner in the project, Roc Nation will help revitalize Times Square by partnering with neighborhood organizations to re-imagine programming in the district’s famous “bow tie.”
“We are thrilled to have Roc Nation and JAY-Z join our partnership to bring Caesars Palace to Times Square. They are one of the most pioneering entertainment groups in the world, with New York embedded in their DNA,” Tom Reeg, CEO of Caesars Entertainment, said in a press release. “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 would provide billions in tax revenue to New York City and State, and could accelerate New York’s economic recovery through strategic partnerships with area businesses utilizing its industry-leading loyalty program Caesars Rewards, home to more than 65 million members.
Caesars Rewards members would be able to use credits at Broadway shows, local hotels, restaurants, retail stores, comedy clubs, entertainment venues, and more, driving more tourists and New Yorkers to area businesses and creating thousands of direct and indirect jobs in and around Times Square, potentially including:
- Seven million+ net new visits to Times Square annually
- 600,000+ new overnight visits to local hotels
- Seven million+ new meals for local restaurants
- $166 million+ new retail spending
- More than $65 million in new annual Broadway ticket sales, supporting 500 theater district jobs
Caesars Palace Times Square is supported by a broad coalition of Times Square stakeholders representing construction labor, Broadway labor, restaurants, hotels, small businesses, theater and local residents.
“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,” Marc Holliday, Chairman & CEO of SL Green said in a press release. “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.”
