Jay-Z's Roc Nation to commit over $250 million in grant money to create possible Caesars Palace Casino in Time Square
The rap icon's entertainment company, "Roc Nation," will commit more than $250 million in grant money for Hell’s Kitchen if they land the bid to create a Caesars Palace Times Square Casino, according to Page Six. And there is a bit of a catch.
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Time Square is one of the most active places in the world, between restaurants, tourist attractions, Broadway shows and potentially, a new casino.
International superstar, Jay-Z, is committing more than $250 million in grant money to create a Caesars Palace Casino in Time Square.
It's causing quite the divide amongst local New Yorkers.
The rap icon's entertainment company, "Roc Nation," will commit more than $250 million in grant money for Hell’s Kitchen if they land the bid to create a Caesars Palace Times Square Casino, according to Page Six. And there is a bit of a catch.
News 12 was told Roc Nation would give an initial $15 million to the local community; plus regular grants based on 0.5% of the casino’s performance.
In a statement announcing the grant initiative, Shawn Carter said “(W)e 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.”
Mr. Carter would have a hard time finding many locals who agree with him, as surveys show a whopping 71% of registered voters in the area oppose the opening of the casino here at the 'crossroads of the world.'
Roc Nation’s group says its bid is getting support from over 150 organizations and businesses. Only 23% of voters say they favor opening a casino in Time Square.
MORE: 'Feeling lucky.' Caesars CEO gambles on winning a coveted casino license in Times Square
