Roc Nation and its partners are close to turning their proposed casino in Times Square into a reality. Now, the citizens of New York City have a rare chance to get in on the action.
For the past five years, JAY-Z, Roc Nation CEO Desiree Perez, and their team have been working hand-in-glove with Caesars Palace and SL Green to obtain one of three new gaming licenses that will allow them to convert 1515 Broadway into an influential gaming and entertainment destination that would impact the city's economy like never before. As part of the bid, Roc Nation is allowing New Yorkers the opportunity to invest in its world-class venue, thanks to its new partnership with Cadre.
"There's a program that we've partnered with where if you wanted to invest five hundred dollars into the casino deal, you're going to be able to get into this fund," Perez tells iHeartRadio. "You're going to be part of a fund that is invested in the casino, which is unusual. It's not something that normally happens, but it's something that we're providing so that the community or anyone in New York City can be part of."
Roc Nation's partnership with Cadre is one of several initiatives the company has proposed to enforce its dedication to improving the neighborhood in and around Times Square. As part of the trio's bid, Roc Nation, Caesars Palace, and SL Green are investing $5.4 billion in the casino and pledging over $250 million to improve the community over the next decade. With a prominent casino in the busiest neighborhood in the city, the tourist-centric area and its surrounding neighborhood will need to be as secure as possible. The company's goal is to strengthen neighborhood security with the most comprehensive safety plan in Times Square history.
The strategic blueprint, crafted by former NYPD Commissioner Bill Bratton, includes $83.15 million for more patrolling officers and technological upgrades, like AI cameras at street corners. In addition, the package also includes community services like $3.2 million for a drop-in center near the subway system helmed by non-profit organization Breaking Ground (which will provide mental health services for the homeless) and $16.5 million for public realm improvements for privately maintained public restrooms, landscaping, hardscaping, and lighting in public spaces. Roc Nation also will dedicate $10 million to reduce traffic congestion and enhance vehicular flow around Times Square with a structured plan designed by environmental engineering firm, AKRF.
“These public safety investments will make Times Square the safest commercial district in the world," Bratton says about the plan.
"Everything that we do, we give back," Perez says. "Perfect example, The Shawn Carter Scholarship Fund (SCSF). We've had the scholarship program for 21 years. We didn't just do this this week because we're doing this thing. No, we are coming with our flaws. We're coming with our history, we're coming with our reputation, we're coming with our work, we're coming with everything that we've done."
"We're paying our way," she adds. "They're not giving us anything. It's not like Caesar said, be our partner so you can get this. We actually have to put money to be part of this. We said we're happy to get with the project, but there has to be a whole component of things that has to go to the community — before it was even said by New York State that you had to have a community component. It's just how we do business."
In addition to increasing safety measures, the robust fund also allocates millions to support hard-working employees on Broadway. It provides $20 million to create and operate child care services, thanks to a partnership with Bright Horizons. Through groups like Tuition.IO and HealthEquity, Broadway workers will be able to get support for student debt, medical debt, and rental assistance. The plan also includes $5 million for a new Center for Excellence in Sexual Health that will expand access to affirming care for LGBTQ+ patients, despite their financial status.
The package also aims to protect and invest in the Arts. The New York Coalition of Legacy Theatres of Color Fund is a joint effort with Tony Award-winning actor Wendell Pierce. The fund is geared toward helping historic theaters of color with direct investments. It will also provide access to childcare, student and medical debt relief, and rental assistance for its employees.
Roc Nation's plan will ensure the preservation and education of art history. Their bid includes $15 million for the Civil Rights Foundation to build a new museum led by Reverend Al Sharpton that will be dedicated to civil rights history and activism. In addition, $8 million will go to local organizations like Local 802 American Federation of Musicians’ Council for Living Music to offer art education and other creative opportunities for the youth in underserved neighborhoods. In an era when funding for the arts is diminishing, Roc Nation and its team will do what they say and ensure their initiatives won't be derailed by the current political climate.
"If you look at these applicants, there's only one black man who's actually investing his hard-earned money in this, and one Hispanic woman, and a company that's owned by minorities," Perez says. "We are the faces of redemption of what New York City is about. I just don't get why these incredible opportunities continue to be given to the same exact people who basically rule the world for the last 500 years. I'm not making this about race, since we're talking about DEI. I'm making this about a New York story and making it about what this is supposed to be about and what this is supposed to look like. If anyone is supposed to get an opportunity, it's supposed to be us, the people of New York."
The state will make its decision on the license later this month. If Roc Nation and its partners are successful, then they can move forward with their project and open the casino in four years. Following the grand opening, Hov's company will donate 0.5% percent of the revenue to the West Side Community Fund, which will support residents in the neighborhood as long as the casino is operating. Citizens can voice their opinion about the casino to their respective public officials by sending an email here.