New York City: Jay-Z sweetens pot on Times Square casino bid with $250M in proposed grants to Hell’s Kitchen
Jay-Z is looking to sweeten the pot on his Times Square casino bid.
The rap icon and Roc Nation will commit more than $250 million in grant money for Hell’s Kitchen if they land the bid to create a Caesars Palace Times Square casino, Page Six has learned.
The hip hop mogul’s Roc Nation-led group would give an initial $15 million to the local community — plus regular grants based on .5% of the casino’s performance.
The Caesars Palace Times Square team has already met with residents of Manhattan Plaza — the famed affordable housing development for artists — to clue them in on the potential benefits, we hear.
Jay-Z said in a statement announcing the grant initiative: “We are New Yorkers. Supporting and providing opportunities for our neighborhoods and community isn’t just a part of Roc Nation’s ethos… it’s our collective responsibility.”
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