New York City officials have rejected a proposal to develop a casino and resort in Times Square, a $5.4 billion project that counted Jay-Z’s Roc Nation among its backers.
Roc Nation had partnered with the gambling giant Caesars Entertainment and the major New York City developer SL Green to propose the Caesars Palace Times Square casino. But as The New York Times reports, the project faced stiff resistance from local residents, as well as Broadway groups and theaters.
The proposal was voted down four-to-two on Wednesday, Sept. 17, by a six-person Community Advisory Committee charged with approving casinos in New York. The Committee comprises members appointed by elected officials, and makes its decision based on local support for the proposals. The only two committee members to vote in favor of the Caesars Palace Times Square casino were appointed by New York Governor Kathy Hochul and NYC Mayor Eric Adams.
JAY-Z defended the concept in an interview with City & State New York, saying:
“New York City is the entertainment capital of the world, so the idea of a world class casino here makes perfect sense.”
But the proposal split the Broadway community. Opponents—including The Broadway League, the Shubert Organization and IATSE—argued the casino would disrupt the theater district and hurt the local economy tied to live performance.