September 23, 2024
As part of $250M community benefits commitment, Caesars Palace Times Square guarantees $15M in initial funding to support community investments; ongoing support tied directly to financial performance comes in addition to the $250M
Led and initiated by Roc Nation, the bid team behind the proposal for Caesars Palace Times Square has announced a first-of-its-kind financial commitment to the Hell’s Kitchen community, including Manhattan Plaza, the famed artists’ affordable housing development.
The community would receive an initial $15 million from Caesars Palace Times Square upon approval of its bid, and regular grants funded based on .5% of casino performance. The unprecedented plan is another significant pillar of the Caesars Palace Times Square team’s unwavering commitment to uplifting Manhattan’s West Side and investing in New York.
“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,” said Shawn “JAY-Z” Carter. “Any proposal that wins a gaming license will undoubtedly profit. 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.”
“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,” said Brett Herschenfeld, EVP at SL Green.
