Jay-Z’s Roc Nation Pledges Over $15 Million If It Wins Hell’s Kitchen Casino Bid

Jay-Z says New Yorkers will profit if Roc Nation and Caesars Entertainment win one in all three highly coveted casino licenses currently up for grabs in New York.

The music mogul and Roc Nation announced they might donate greater than $250 million in grants to Hell’s Kitchen if the district bids to construct Caesars Palace Times Square casino, reports Page Six.

The website adds that Roc Nation will initially donate $15 million to the local people, along with “regular” donations based on 0.5% of the casino’s earnings.

According to sources, the Caesars Palace Times Square team has already met with residents of nearby reasonably priced housing developments to present the concept and explain how they may benefit from it.

“We are New Yorkers. Supporting and providing opportunities to our neighborhoods and communities is not just part of the Roc Nation ethos… it is our collective responsibility,” Jay-Z said in an announcement, in keeping with Page Six. “Any proposal that wins a gaming license will undoubtedly benefit. Our vision is to give back to New York City and ensure that the Broadway community, Hell’s Kitchen, and surrounding businesses and areas benefit. And not just in the moment, but in the long run.”

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Roc Nation has teamed up with Caesars Entertainment and SL Green to compete in June for one in all the town’s three casino licenses. Under the proposed plan, Roc Nation said it will award grants from a brand new community trust controlled by community residents. The “promise of $250 million in community funding” would also include improvements to Times Square, Hell’s Kitchen and other surrounding areas.

While the Roc Nation group says its bid has received support from “more than 150 organizations and businesses, including restaurants, hotels, residents, labor unions and Broadway stakeholders,” the plan so as to add latest casinos in New York was met with varied reactions.

This won’t be Jay-Z’s first foray into the gambling and gaming industry. This latest update comes just after Jay-Z was in Atlantic City to unveil a brand new brick-and-mortar location for the Fanatics sportsbook on the Ocean Casino Resort. Hova co-founded the web sportsbook with Michael Rubin, and the partnership has proven fruitful.

“The idea to do this together came to us three years ago,” Rubin said. The Philadelphia Inquirer through the opening event.

“Listen, I’ll tell you what my goal is. I want to be number one in the online sports betting/iGaming market,” he continued. “A year later, we’re 5% of that market. We’re growing really fast. Look at two amazing companies, FanDuel and DraftKings, but everyone else is losing share. We’re gaining share every month.”

Jay-Z cut the ribbon on the official opening and even made his way over to a table or two to play craps with attendees.

“Who wouldn’t want to play with Jay-Z?” Rubin said in an interview.

Only time will tell.