Jay-Z’s dream of owning a casino in Times Square has been dashed. According to Billboard, the Roc Nation proposal for the New York casino was rejected by a Community Advisory Committee, which voted 4-2 against the casino despite a $15 million community investment offer. The casino would have taken over 1515 Broadway, and included hotels, shops, and restaurants, with a pledge from the casino’s ownership group to share 0.5 percent of the casino’s profits totaling up to $250 million in community investment.
The proposal could only have moved forward with the committee’s approval; the rejection will leave Roc Nation and its partners, SL Green and Caesars, looking for other options to secure one of New York’s three open licenses for a gaming establishment in the city. Times Square was considered the optimal location as it’s the city’s main tourism hub, but that doesn’t mean they couldn’t propose a different location — or increase their community investment commitment — and try again.
However, it doesn’t sound like the decision was received in the best spirits. SL Green CEO Marc Holliday called the vote result “a despicable display of cowardice, lack of leadership, lack of consideration for all the people who would benefit from this proposal” in a video posted online. Meanwhile, it seems the Advisory Community has sided with The Broadway League President Jason Laks, who opined in Deadline that it was more important to preserve the character of the neighborhood. The proposed building currently houses the Minskoff Theatre, currently hosting The Lion King.
“This was a vote to protect the magic of Broadway for the one hundred thousand New Yorkers who depend on it for their livelihoods, and for the tens of millions who come from around the world to experience it,” he said. “A casino can go anywhere, but Broadway only lives here.”
