After partnering with SL Green, on Monday, December 5th, Las Vegas-based Caesars Entertainment publicly announced that it has inked a partnership and support from Roc Nation, the full-service entertainment agency founded by rapper Jay-z, in its bid for a “new, state-of-the-art gaming facility at 1515 Broadway in Times Square.”
New partnership:
This latest partnership brings more strength, diversity and seriousness to the Times Square Casino bid and brings together the best of three-best-in-class organizations – Caesars Entertainment, SL Green and Roc Nation – to come up with a key plan for a best-in-class casino for the world’s tourism destination.
Under the terms of the agreement, Roc Nation will “help revitalize Times Square by partnering with neighborhood organizations to re-imagine programming in the district’s famous bow-tie.”
Shawn Carter from “JAY-Z” Roc Nation, said: “New York is a beacon, the epicenter of culture. 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.”
Marc Holliday, Chairman & CEO of SL Green, said: “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. 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.”
Tom Reeg, CEO of Caesars Entertainment, said: “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. 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.”
Competition for a New York license:
In October, Caesars applied for one of three licenses to help it legally operate the proposed Times Square Casino on Broadway, after inking a partnership with SL Green specifically for that purpose.
However, five other companies are also in the running for one of the New York licenses and the outcome remains to be seen.
Key proposal:
Spokesperson at Caesars, said: “The new project will not only provide billions in tax revenue to New York, it will also accelerate its economic recovery through strategic partnerships with area businesses utilizing its industry-leading loyalty program Caesars Rewards.
The development could stimulate over 7 million new visits to Times Square annually, 600.000 new overnight hotel bookings, alongside $166 million in new retail spend and $65 million in new annual Broadway ticket sales.”