Jay-Z is becoming a member of a protracted record of suitors hoping to money in on the playing market after New York Metropolis was just lately authorized for a gaming license.
The hip-hop artist and entrepreneur released a long-winded statement on Instagram Thursday from his leisure firm Roc Nation with the headline: “It’s Time, Occasions Sq..”
In an open letter to New York, Jay-Z makes his case for why he ought to be the one applicant granted the license, stating that others within the working have “unfold misinformation.”
He’s vying for what’s predicted to be a single license to open a authorized on line casino within the metropolis.
“The profitable group will need to have a monitor report of turning phrases into deeds — of placing New York Metropolis and its residents first — folks of all races, religions, ethnicities, genders, sexual orientations and socio-economic statuses,” Jay-Z says in his assertion.
“The profitable license should at all times put the well-being of New Yorkers on the high of their agenda and do proper by its residents,” the assertion continues. “That is too essential of a second in our metropolis’s illustrious historical past.”
He states that his on line casino — “Caesars Palace Occasions Sq.” — will “profit all of New York.”
Whoever the profitable bidder of the license might be stands to profit enormously.
Casinos can earn wherever from from $1 million to $10 million per day. Nevada, the place the US’s playing epicenter lies, reported gross gaming revenue of $13.43 billion in 2021.
His assertion additionally particulars data on giving again.
“Our bid commits $115 million for various theater packages that embrace daycare for Broadway employees and their households,” Jay-Z consists of within the assertion.
He joins different notable billionaires who’re rolling the cube on playing within the Large Apple.
Mets proprietor Steve Cohen, real-estate scion Stefan Soloviev, Gristedes CEO John Catsimatidis and Hudson Yards developer Stephen Ross are all gunning for that license to win cash.
“Each billionaire needs a on line casino. The epitome of success within the US is to personal your personal on line casino,” a supply within the enterprise beforehand informed The Publish.