JAY-Z saw his Times Square casino dream derailed after a local advisory board voted down the proposal, halting a high-stakes bid that had the backing of Caesars Entertainment and Roc Nation.
The Community Advisory Committee voted 4-2 against the plan, which was submitted by SL Green Realty, Caesars, Roc Nation, and Live Nation, according to Deadline.
The decision effectively blocks the project from advancing to the next stage of New York’s competitive casino licensing process.
The proposed casino would have been located at 1515 Broadway, sharing real estate with the Minskoff Theatre, home to Broadway’s long-running hit The Lion King, and offices for Viacom.
Roc Nation CEO Desiree Perez had spent five years pushing the plan, which she said would open the door for everyday New Yorkers to invest in the project with as little as $500 through a partnership with real estate platform Cadre.
JAY-Z Argues Times Square Casino “Makes Perfect Sense”
JAY-Z, born and raised in Brooklyn, 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.
“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,” said Jason Laks, president of The Broadway League and a member of the No Times Square Casino Coalition. “A casino can go anywhere, but Broadway only lives here.”
The coalition opposing the project included over 35 organizations representing 168,000 workers across North America, including IATSE locals, the United Federation of Teachers and nonprofits like the Ali Forney Center and Broadway Cares/Equity Fights AIDS.
Still, the plan had its backers. Actors’ Equity and musicians’ union Local 802 supported the casino, citing job creation and increased safety in the area.
Had the committee approved the proposal, it would have moved on to the state’s Gaming Facilities Location Board. New York is expected to issue three casino licenses this year.