Jay-Z Pledges $250 Million if Granted a New York Casino License

Rapper and businessman Jay-Z is hoping to woo New York officials with a special promise.

“Hov,” real name Shawn Carter, will pledge more than $250 million in grants for Hell’s Kitchen, a neighborhood on the west side of Midtown Manhattan in New York. However, that’s only if he and his Roc Nation-led consortium land the rights to build a Caesars Palace Casino in Time Square. 

Carter will also donate $15 million to the community along with grants at 0.5 percent of the casino’s performance.

Sweetening the deal

Jay-Z and Roc Nation are one of many teams that are interested in procuring one of three New York casino licenses made available by Governor Kathy Hochul.

Hochul first announced her desire to add more casinos to New York’s list of attractions a couple of years ago. Bidders, of which there are many, have until June 27, 2025 to submit their applications for the licenses.

Roc Nation has already teamed up with global entertainment and casino brand Caesars Entertainment and real estate company SL Green for their application.

If chosen by the New York Gaming Facility Location Board, the grants will be distributed at the discretion of a local trust overseen by local residents.

“We are New Yorkers,” said Jay-Z. “Supporting and providing opportunities for our neighborhoods and community isn’t just a part of Roc Nation’s ethos…it’s our collective responsibility.

“Any proposal that wins a gaming license will undoubtedly profit,” he continued. “Our vision is to give back to New York and ensure that the Broadway community, Hell’s Kitchen, and the surrounding businesses and areas all benefit. And not just for a minute, but for the long-term.”

Giving back to New Yorkers?

Representatives from the Roc Nation team met with residents of Manhattan Plaza, an apartment complex in Hell’s Kitchen, to discuss the benefits of the casino. Tenant Association President Aleta LaFargue, who previously called the project “predatory,” was one of many in attendance.

“I know there’s a lot of feelings about whether or not our community gets a casino, but here we are to listen to what they have to say, what they have to offer,” LaFargue said to tenants after the meeting. 

News outlet The City reported that LaFargue had been offered a position on Roc Nation’s team as an independent contractor for $20,000 per month. She denied that she accepted the role.

SL Green said that it entrusted Roc Nation as its partner because it has the best interest of the community in mind.

“We partnered with Roc Nation for a reason, and are thrilled to support any Roc Nation-led community initiative that extends the benefits of this project to more New Yorkers,” SL Green Executive Vice President Brett Herschenfeld said.

Many other heavy-hitters are also in pursuit of one of the licenses. Teams include New York Mets owner Steve Cohen, Miami Dolphins owner Stephen Ross, and numerous casino brands.