JAY-Z's Times Square Casino Bid Disapproved

Summary

• JAY-Z’s bid for a Times Square casino, a partnership with Roc Nation and Caesars, was disapproved
• The decision was a victory for community groups who opposed the project’s impact on Broadway
• The vote means the proposal cannot move forward in the state’s licensing process for one of three downstate licenses

In a major blow to New York’s casino license competition, a Community Advisory Committee has voted to disapprove the high-profile bid for a Times Square casino, a venture backed by JAY-Z’s Roc Nation, SL Green Realty, and Caesars Entertainment. The news was first reported in 2023. The decision marks the end of a long and contentious battle that pitted the developers’ vision against the fierce opposition of the Broadway community.

The $5.4 billion USD proposal sought to transform an office tower at 1515 Broadway into a Caesars Palace-branded casino, hotel, and entertainment complex. Its proponents, including JAY-Z himself, argued the project would “complement” Broadway by generating jobs, increasing tourism, and investing $250 million USD in community projects. However, a coalition led by The Broadway League fought back, asserting that a casino would erode the neighborhood’s character, add unwanted congestion and threaten the theater industry. As The Broadway League President Jason Laks put it, “A casino can go anywhere, but Broadway only lives here.”

The committee’s 4-2 vote against the proposal means it cannot advance to the next stage of the state’s licensing process, effectively ending the bid. The decision prompted a heated reaction from SL Green CEO Marc Holliday, who called the vote a “despicable display of cowardice.” JAY-Z was quated in the project’s executive summary, “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.” The rejection leaves Roc Nation and its partners to reconsider their strategy as the high-stakes competition for three new casino licenses in New York continues.