Caesars Palace Times Square says it’s committed to working with other organizations in the Hell’s Kitchen community and giving back.
Jay-Z’s Roc Nation has made a significant move to ensure his proposed Caesars Palace Times Square casino is giving back to the community.
On Monday, Roc Nation announced it will be launching an unprecedented grant program in New York City’s Hell’s Kitchen and the surrounding area to ensure the neighborhood gets the financial assistance it needs to continue development. According to a press release, the community would receive $15 million from Caesars Palace Times Square after its bid is approved to open a casino in the area.
In addition to the $15 million, regular grants will be funded to the community based on 0.5 percent of the casino’s profits, with an “overall $250 million community funding promise.” A community trust would be established to distribute the funds to various initiatives like after-school programs, senior support, childcare, and more.
This initiative was put in place to show that Caesars Palace Times Square is committed to working with other organizations in the community and proving that the casino could be a major win for the community.
“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,” Jay-Z said. “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.
Roc Nation announced its plans to join Caesars Entertainment and Manhattan realty company SL Green’s bid to open a Times Square casino in 2022. In a statement shared on the Roc Nation website, Hov said, “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 three entities said they hoped to build a “state-of-the-art gaming facility” at 1515 Broadway, but theater owner and producer organization The Broadway League has opposed the move. However, other labor unions such as the Actors’ Equity Association and Local 802 of the American Federation of Musicians, as well has around 150 organizations and businesses, have endorsed the bid.