The Big Apple is about to throw the dice in a raffle, and lots of billionaire investors wish to try their luck at winning an enormous prize.
The elected officials finally approved one casino license within the Big Apple (that is right – just one for a city of 8 million people), causing a large and sometimes terrible bidding war between various wealthy suitors.
One of the interested parties is none aside from Jay-Z and his entertainment company Roc Nation. An entrepreneur known for saying, “I’m not a businessman, I’m a business, man,” has teamed up with SL Green and Caesars Entertainment to propose the development of Caesars Palace in the center of bustling Times Square.
In an open letter on Roc Nation’s Instagram and Twitter titled “It’s Time, Times Square”, the corporate made the case for why they need to get New York’s golden gambling ticket.
“The winning group should have the experience of turning words into motion – putting New York City and its people first – people of all races, religions, ethnicities, genders, sexual orientations and socioeconomic backgrounds,” the statement read. “Our proposal represents an modern plan that won’t only attract additional tourists to our city, but in addition improve the standard of life for abnormal New Yorkers.”
Among other things, Jay-Z’s plan guarantees to present back to area businesses, profit mass transit, spend money on sanitation and safety, and “provide a much-needed transportation plan.” “Our offer includes $115 million for quite a lot of theatrical programs, including day take care of Broadway employees and their families,” the letter reads.
Related: Jay-Z Invests Big Money in Robo Pizza Truck That Solves a Major Food Industry Problem
Total bidding war
New York voters approved Las Vegas-like casinos of their state in 2013. But only last 12 months, elected officials in Albany approved casino licenses for lower New York State, including New York, Long Island and Westchester County.
The prospect of opening a totally operational casino in America’s largest city has billionaires salivating to turn into the king of New York’s casinos. In addition to Jay-Z, other bidders include New York Mets owner Steve Cohen, Gristedes supermarket scion John Catsimatidis, and Hudson Yards developer Stephen Ross.
“Every billionaire wants a casino. The epitome of success within the US is having your individual casino,” the source said New York Post.
However, billionaires have different ideas about where they wish to construct their casinos. Cohen has teamed up with Hard Rock and desires to open a casino around Citi Field in Queens where the Mets play. Catsimatidis takes a have a look at Coney Island, famous for its boardwalk, amusement park and hot dog eating contest. Ross, who works with Wynn, desires to put a casino within the newly built Hudson Yards.
Accusations of a “disinformation” campaign.
Roc Nation’s letter, which also appeared in advertisements within the New York Post, New York Daily News and Amsterdam News, accused some “conflicted parties” of spreading “misinformation”, claiming they’d written the letter to clear things up.
Although Roc Nation didn’t name names, some imagine they might seek advice from a coalition of Broadway theater owners and producers, Midtown Manhattan communities, and a tenant organization calling itself the No Times Square Casino.
According to the article in Deadlinethe coalition opposes the development of Caesars Palace in Times Square, where most Broadway theaters are also situated, citing traffic congestion, economic disruption, and making the world “less family-friendly.”
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