Jay-Z is joining a long list of suitors hoping to cash in on the gambling market after New York City was recently approved for a gaming license.
The hip-hop artist and entrepreneur released a long-winded statement on Instagram Thursday from his entertainment company Roc Nation with the headline: “It’s Time, Times Square.”
In an open letter to New York, Jay-Z makes his case for why he should be the one applicant granted the license, stating that others in running have “spread misinformation.”
He’s vying for what is predicted to be a single license to open a legal casino in the city.
“The winning group must have a track record of turning words into deeds — of putting New York City and its residents first — people of all races, religions, ethnicities, genders, sexual orientations and socio-economic statuses,” Jay-Z says in his statement.
“The winning license must always put the well-being of New Yorkers at the top of their agenda and do right by its residents,” the statement continues. “This is too important of a moment in our city’s illustrious history.”
He states that his casino — “Caesars Palace Times Square” — will “benefit all of New York.”
Whoever the winning bidder of the license will be stands to benefit greatly.
Casinos can earn anywhere from from $1 million to $10 million per day. Nevada, where the US’s gambling epicenter lies, reported gross gaming revenue of $13.43 billion in 2021.
His statement also details information on giving back.
“Our bid commits $115 million for diverse theater programs that include daycare for Broadway workers and their families,” Jay-Z includes in the statement.
He joins other notable billionaires who are rolling the dice on gambling in the Big Apple.
Mets owner 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 money.
“Every billionaire wants a casino. The epitome of success in the US is to own your own casino,” a source in the business previously told The Post.