Caesars hires Rev Sharpton to help with their casino plan in Times Square.
Caesars wants to build a new casino and entertainment centre in Times Square, New York. The well-known pastor has backed the idea.
Times Square Caesars
Civil rights leader Reverend Al Sharpton and digital real estate entrepreneur Ryan Williams have both backed Caesars Entertainment's plan to build a land-based casino in Times Square, New York.
Sharpton and Williams have both publicly said they support the idea, which would bring a gaming and entertainment centre to 1515 Broadway, a famous street. Right now, the proposed site for the casino is an office block.
Sharpton has changed his mind about gambling in the US, but he still supports it. In 2020, he told Colorado lawmakers to stop mobile betting from becoming legal because it would cost jobs. But the state decided to go ahead and control the market not long after.
Support from Jay-Z
Sharpton wrote to Colorado Governor Jared Polis at the time, saying, "Online gaming in Colorado will inevitably attract shady people who make money off of job loss." That's virtually a sure thing. But when you look at who the law helps, it's hard to see why the state would wish to promote criminal behaviour.
Sharpton talked about why he decided to support Caesars Times Square, and he mentioned Jay-Z's support. Roc Nation, one of the companies working with Caesars on the project, is run by the music star. The proposal also includes SL Green Realty Corp.
Sharpton said in a news statement, "Thanks to Jay-Z's leadership and vision, we believe that for the first time our community will not only have a seat at the table but also the chance to own a part of Caesars Palace Times Square."
"A casino in New York should be in Times Square, and it should be built to help everyone in New York." That's why I favour Caesars Palace Times Square.
Caesars talks on local investment chances
Caesars asserted that Sharpton's connections to the local community will be helpful to their plan. It also showed how Williams' understanding of real estate investment opportunities will help the endeavour.
Williams made billions of dollars in the past through his investing platforms, the most famous of which being Cadre. He claimed that this has allowed those with low incomes invest in big real estate. Caesars said that families who live near Times Square will be able to invest in the new project with as little as $500.
Williams added, "The initiative gets past long-standing problems." "We will go from promises to real progress by using the Rev's wide network and our shared commitment to economic inclusion. This will give everyday New Yorkers real investor education and meaningful equity investment opportunities."
"I came up with a model more than ten years ago to make real estate investment opportunities available to more people." We are now using this method on one of the most significant projects of our time. "We want to open up more financial opportunities for New Yorkers than ever before."
Caesars added that Sharpton and Williams's support fits with its larger goal of helping people and the areas where it does business.
Caesars reported that its community contribution in the project was more over $71 million in 2024. On top of that, it made $10 billion in economic value for its stakeholders.
Caesars gets people to support them as the licence deadline approaches.
There is a lot of backing for the Times Square proposal from Caesars. More than 200 groups have declared they support the project, but Caesars still needs to get a casino licence in New York before it can go ahead.
Geoff Ballotti, president and CEO of Wyndham Hotels & Resorts, is one of the people behind the idea. In May, he went to a hearing to support the casino plan. In May, a number of union leaders also spoke out in favour of the proposal.
Some people, nevertheless, don't like the idea. The main people who are against it are those in the theatre business, since the casino is close to a lot of theatres on Broadway.
The deadline for applying for a casino licence in the Downstate New York bidding process just so happens to be June 27. Before the end of this year, up to three licenses could be given out. MGM Resorts, Resorts World New York City, Thor Equities, Bally's, Soloviev Group, Seminole Hard Rock, and Silverstein Properties are among of the other companies that are interested.
In recent months, a planned casino facility across from Citi Field in Queens that is supported by New York Mets owner Steve Cohen has gathered traction.