Jay-Z Promises More Than $250 Million to Hell’s Kitchen If He Wins N.Y.C. Casino Bid
Jay-Z’s empire state of mind hasn’t faltered one bit.
The rap mogul is promising more than $250 million to the Hell’s Kitchen community if he wins a bid for one of New York City’s coveted gaming licenses, the New York Post’s Page Six reported on Monday. Jay-Z’s interest in opening a casino in Manhattan was reported all the way back in May 2023, and now he’s hoping to drum up even more support by giving back to the area.
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“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,” the rapper said in a statement. “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.”
Jay-Z and his Roc Nation have teamed up with Caesars Entertainment and SL Green Realty on the bid to open a Caesars Palace Times Square casino. So far, the proposed casino has received support from more than 150 businesses in the area, Page Six noted, and the team has met with local residents to talk through how it may benefit them.
The new plans would first give $15 million to the Hell’s Kitchen community, with regular grants following based on 0.5 percent of the casino’s performance. (Such businesses can make some $1 million to $10 million a day, the outlet noted.) The grant funding would be distributed by a trust run by local residents and would go toward improvements in Hell’s Kitchen, Times Square, and nearby areas.
A number of other powerful players have entered the race to secure one of New York’s three gaming licenses, so it’s not yet a sure bet that Jay-Z will get to open up shop in Manhattan. Notably, the Mets owner Steve Cohen is hoping to build Metropolitan Park, which along with a casino would include athletic fields, a mass-transit station, a food hall, and public park space. And even though developers are clamoring for the gaming licenses, many New Yorkers aren’t thrilled about the prospect of having a casino in their backyard.
Jay-Z and his competitors face somewhat of an uphill battle in getting their casinos off the ground, then.
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