September 23, 2024
‘Our vision is to give back to New York and ensure that the Broadway community, Hell’s Kitchen, and the surrounding businesses and areas all benefit.’
In an attempt to sway city officials to award them with a gaming license for Times Square after protests from the local community, JAY-Z and Roc-Nation are offering the surrounding community an initial $15 million as part of a $250 million package.
Two years ago, Roc-Nation joined SL Green and Caesars Entertainment to announce efforts to open a new, state-of-the-art gaming facility at 1515 Broadway in Times Square, the heart of midtown Manhattan. In a recent press release, the partners have proposed an initial $15 million from Caesars Palace Times Square upon approval of its bid, and they are also offering regular grants funded based on .5% of casino performance.
“We are New Yorkers. Supporting and providing opportunities for our neighborhoods and community isn’t just a part of Roc Nation’s ethos; it’s our collective responsibility,” said JAY-Z in a written statement. “Any proposal that wins a gaming license will undoubtedly profit. Our vision is to give back to New York and ensure that the Broadway community, Hell’s Kitchen, and the surrounding businesses and areas all benefit. And not just for a minute, but for the long-term.”
The team behind Caesars Palace Times Square spoke with residents from Manhattan Plaza to fully explain what they have to offer and to see how they can help the neighborhood make the project happen.
“We partnered with Roc Nation for a reason and are thrilled to support any Roc Nation-led community initiative that extends the benefits of this project to more New Yorkers,” said Brett Herschenfeld, EVP at SL Green.
The money being proposed would be distributed to a newly formed trust controlled by community residents. They would serve as trustees and make the decisions regarding how and where to distribute the funds. These would include things like after-school programs, childcare, senior support, or other local priorities. This will benefit the neighborhoods in and around the Times Square area, like Hell’s Kitchen and surrounding areas, and help with sanitation, security, and congestion management.
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