Caesars confirms its joint casino effort with SL Green Realty Corp. has partnered with the legendary MC’s entertainment agency.
Over the weekend, Steve Cuozzo of the New York Post reported that Roc Nation, the talent management and media firm founded by Jay-Z, was entering the race to secure the right to open a casino complex at 1515 Broadway in New York City’s Times Square.
On Monday, gaming and hospitality company Caesars Entertainment and SL Green Realty Corporation confirmed that Roc Nation is their official entertainment partner in their bid to make Caesars Palace Times Square a reality.
As Jay-Z said on the occasion:
“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.”
An official press release notes SL Green Realty Corp. as New York City’s largest manager of office properties. The New York Post previously reported that upwards of six entities are expected to submit formal bids to develop a Times Square casino at 1515 Broadway.
“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,” Tom Reeg, CEO of Caesars Entertainment, said in a news release. “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.”
Caesars suggested that the effort has the potential to drive an additional seven million annual visitors and $166 million in retail revenues in and around Times Square.
Added Marc Holliday, Chairman and CEO of SL Green Realty Corp.:
“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,” Marc Holliday, Chairman and CEO of SL Green, said in a release. “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.”
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