Jay-Z-Backed Times Square Casino Project Rejected Amid Strong Opposition
New York officials rejected a $5.4 billion Times Square casino project, backed by Jay-Z, following significant opposition from Broadway, community groups, and local residents concerned about preserving the area's unique character.
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Overview
- New York officials, specifically the Community Advisory Committee, rejected a proposed $5.4 billion Times Square casino project by a 4-2 vote, halting its development.
- The casino proposal, backed by Roc Nation CEO Jay-Z and the Caesars coalition, faced strong opposition from various groups.
- Broadway theater industry, community groups, theater interests, and local residents actively campaigned against the project.
- Opponents celebrated the decision, emphasizing the need to protect the 'magic of Broadway' for both workers and theatergoers.
- The Caesars coalition and Roc Nation CEO expressed disappointment following the committee's decision to reject the controversial Times Square development.
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Analysis
Center-leaning sources cover the Times Square casino proposal neutrally, detailing the committee's rejection due to Broadway opposition. They present arguments from both proponents, like Jay-Z, and opponents, such as theater groups, regarding the project's economic and cultural impact. The reporting attributes strong opinions to individuals, maintaining an objective stance on the contentious issue.
"A proposed Caesars Palace casino in Times Square that’s backed by Jay-Z lost its bid for a gambling license Wednesday after running into fierce opposition from Broadway theater owners and producers who were worried about its potential impact on the theater district."
ABC NewsArticles (3)
FAQ
The project was rejected by the Community Advisory Committee with a 4-2 vote due to strong opposition from the Broadway theater industry, community groups, theater interests, and local residents who were concerned about preserving the unique character of Times Square and Broadway.
Opponents, including Broadway producers, unions, small business owners, and local residents, were worried about increased congestion, crime, and a shift in the area's character that could threaten the 'magic of Broadway'.
The developers, including Jay-Z's Roc Nation and Caesars Entertainment, promised up to $7 billion in projected tax revenue, thousands of jobs, and nearly $250 million in community benefits to uplift the community and enhance New York's cultural life.
Jay-Z described the casino as an extension of New York's cultural life and believed it could 'fulfill Times Square's promise' by creating a world-class entertainment venue that shifts culture and uplifts communities, emphasizing partnership and long-term community investment.
History
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