JAY-Z noticed his Occasions Sq. on line casino dream derailed after a neighborhood advisory board voted down the proposal, halting a high-stakes bid that had the backing of Caesars Leisure and Roc Nation.
The Neighborhood Advisory Committee voted 4-2 in opposition to the plan, which was submitted by SL Inexperienced Realty, Caesars, Roc Nation, and Dwell Nation, in accordance with Deadline.
The choice successfully blocks the undertaking from advancing to the following stage of New York’s aggressive on line casino licensing course of.
The proposed on line casino would have been situated at 1515 Broadway, sharing actual property with the Minskoff Theatre, dwelling to Broadway’s long-running hit The Lion King, and places of work for Viacom.
Roc Nation CEO Desiree Perez had spent 5 years pushing the plan, which she stated would open the door for on a regular basis New Yorkers to put money into the undertaking with as little as $500 by a partnership with actual property platform Cadre.
JAY-Z Argues Occasions Sq. On line casino “Makes Excellent Sense”
JAY-Z, born and raised in Brooklyn, defended the idea in an interview with Metropolis & State New York, saying, “New York Metropolis is the leisure capital of the world, so the concept of a world class on line casino right here makes good sense.”
However the proposal break up the Broadway neighborhood. Opponents—together with The Broadway League, the Shubert Group and IATSE—argued the on line casino would disrupt the theater district and damage the native financial system tied to reside efficiency.
“This was a vote to guard the magic of Broadway for the 100 thousand New Yorkers who rely upon it for his or her livelihoods, and for the tens of hundreds of thousands who come from world wide to expertise it,” stated Jason Laks, president of The Broadway League and a member of the No Occasions Sq. On line casino Coalition. “A on line casino can go anyplace, however Broadway solely lives right here.”
The coalition opposing the undertaking included over 35 organizations representing 168,000 staff throughout North America, together with IATSE locals, the United Federation of Academics and nonprofits just like the Ali Forney Heart and Broadway Cares/Fairness Fights AIDS.
Nonetheless, the plan had its backers. Actors’ Fairness and musicians’ union Native 802 supported the on line casino, citing job creation and elevated security within the space.
Had the committee accepted the proposal, it might have moved on to the state’s Gaming Services Location Board. New York is anticipated to subject three on line casino licenses this 12 months.
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