Jay-Z's proposal for a casino in Times Square receives significant advancement at opportune moment
Loose Cannon's Lowdown
05/30/2025 09:22 - Photo by Oto Godfrey, CC by-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0/deed.en)
The Skinny
- Caesars, SL Green, and Roc Nation are teaming up for a whopping $4 billion casino project in Times Square, New York City.
- Their ambitious plan includes an eight-story casino, a swanky 950-room hotel, plus a smorgasbord of dining and nightlife venues.
- If approved, the casino is expected to create over 6,000 construction jobs and about 3,500 permanent positions, boosting NYC's economy post-pandemic.
Meet the Crew
- Grant Mitchell (yours truly), a sports fanatic and bettor, previously studied at Virginia Tech and even competed as an NCAA track and field athlete. Today, he offers hot-off-the-press coverage of the sports betting biz.
- With stints at entities like Forbes and VSiN, Grant has built a rep as a reliable player in the industry. When he's not crunching numbers, he's pounding the pavement around the city or catching the day's big game.
Worth a Gander
For more juicy tidbits, check out https://x.com/milemitchell
Grant Mitchell## On the Agenda
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The Inside Scoop
The coalition between Caesars Entertainment, SL Green, and Roc Nation isn't solely targeting the sports betting industry. Rather, their sights are set on a casino project right smack in the center of Times Square, Manhattan. It's no pocket change affair either - we're talking a colossal $4 billion investment aimed at breathing new life into Midtown with top-notch entertainment, tourism, and employment opportunities[4].
The future digs? A Caesars Palace casino at 1515 Broadway. Sounds impressive, right? Three powerhouses join forces:
- Caesars Entertainment – Gambling big on revitalizing Times Square with world-class amenities[4].
- SL Green – The real estate company lending its infrastructure know-how[4].
- Roc Nation – Bringing Jay-Z's entertainment empire into the mix, pledging $250 million in grants for Hell's Kitchen if the casino license is approved[3][4].
That $250 million grant comes with strings attached, tying Roc Nation's contributions to the casino's performance. Money will flow into local initiatives like housing, education, and entrepreneurship projects[3][4].
Economic Commission
Here's the projected impact:
- Job Creation: Over 6,000 construction jobs and around 3,500 permanent positions[4].
- Boost to NYC's economy: Significant contribution to the city's post-pandemic recovery.
Union representatives have expressed enthusiasm for the project, praising its potential to generate employment and economic growth[1]. But not everyone's on board.
Opposition comes from groups like the Broadway League and the No Times Square Casino coalition, comprising local leaders concerned about the project's potential impact on the area[5].
The casino project may include sports betting aspects as part of its entertainment offerings, depending on the legal and regulatory landscape in NYC. However, the details remain hush-hush for now. Stay tuned for more updates!
- The ambitious $4 billion casino project in Times Square, New York City, spearheaded by Caesars Entertainment, SL Green, and Roc Nation, is not just focused on the sports betting industry but aims to rejuvenate Midtown with top-notch entertainment, tourism, and employment opportunities.
- The project, expected to be a Caesars Palace casino at 1515 Broadway, will be a collaboration between three powerhouse entities: Caesars Entertainment, SL Green, and Roc Nation, which pledged $250 million in grants for Hell's Kitchen if the casino license is approved, with the funds designated for local initiatives such as housing, education, and entrepreneurship projects.
- The casino project, if approved, is projected to create over 6,000 construction jobs and about 3,500 permanent positions, significantly contributing to New York City's post-pandemic recovery.
- The coalition's plans include a progressive jackpot-style casino experience, online betting options, and sports betting as part of the entertainment offerings, subject to the legal and regulatory landscape in NYC.
