The initiative to establish a casino hotel in Times Square, New York City, gained significant momentum on Wednesday as it was announced that Rev. Al Sharpton and digital real estate investment innovator Ryan Williams are collaborating with the team working to introduce a gaming facility to the theater district.

A partnership made up of Caesars Entertainment, real estate firm SL Green, and Roc Nation, the entertainment agency founded by hip-hop icon Jay-Z, aims to establish a casino hotel at 1515 Broadway. The rapper's connection to Sharpton might have influenced the civil rights activist in backing the initiative.

“Thanks to the leadership and vision of JAY-Z, we believe that for the very first time our community will not only have a seat at the table but also the opportunity to have a stake in the ownership of Caesars Palace Times Square,” said Sharpton in a statement. “A New York casino belongs in Times Square and it should be designed to benefit all New Yorkers. That’s why I’m a supporter of Caesars Palace Times Square.”

The news of Sharpton and Williams backing the project came two days prior to the deadline for submitting applications for the three downstate casino licenses. Following recent exits from the New York City casino race, the chances of Caesars Palace Times Square gaining approval have improved, although many still believe that establishing a gaming location in Manhattan is a significant challenge.

 

Caesars Palace Times Square Available for Investment

Williams, the founder of Cadre, a top global digital real estate investment platform, is using his knowledge in the property industry to eliminate obstacles for entering real estate investments.

According to a suggestion put forward by the entrepreneur, residents can invest in Caesars Palace Times Square starting at $500 — a cost that could attract more market participants. Commercial real estate in New York City has typically been set aside for large developers and affluent investors, yet the Williams plan opens doors for average individuals to engage and possibly accumulate wealth

“By coupling Rev. Sharpton’s deep community ties with Williams’ proven experience using technology to raise and invest capital over the course of more than 20 years, the partnership has the potential to transform equitable ownership from an aspiration into an actionable, measurable reality,” the statement said.

Several other casino initiatives in prominent US cities, such as a proposal in New York, are seeking equity sales directed at local investors, but the Caesars proposal is among the most flexible regarding minimum investment requirements.

 

Resistance Persists Against Caesars Palace Times Square

Like most other downstate casino proposals, the Times Square plan faces opposition, which has been present since the beginning. Dissent is widespread among local small enterprises, various members of the theater community, and other organizations.

Organized by community groups, labor unions, and locals, a rally is scheduled for Wednesday in Times Square to express disapproval of the suggested gaming facility. The organizations supporting the rally contend that as Broadway recovers and crime in Times Square decreases, earlier commitments made by Caesars and SL Green are less significant now

“The Times Square casino proposal has generated massive opposition, with 71 percent of Midtown residents opposed in a recent Tulchin Research poll,” according to the opposition groups.