A joint venture seeking to bring casino gambling into the heart of New York City has partnered with an unlikely figure – civil rights activist and TV personality Rev. Al Sharpton – on a new effort to encourage low-income households to invest in this endeavor.
Caesars Palace Times Square is the bid from SL Green Realty Corp (NYSE: SLG), Caesars Entertainment (NASDAQ: CZR), and Jay-Z’s entertainment company Roc Nation to create a gaming and entertainment destination to 1515 Broadway in Times Square. Working with Sharpton and Ryan Williams, founder of the Cadre digital real estate investment platform, the initiative will enable local low-income households to become involved in the project with investment opportunities starting at $500.
“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 press 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.”
“We are honored to partner with Rev. Al Sharpton and Ryan Williams to democratize our investment, providing access to families normally left out of investment opportunities,” added SL Green Chairman and CEO Marc Holliday. “In every aspect, Caesars Palace Times Square is being designed to ensure its benefit is shared with communities across New York City.”
Photo courtesy of Rev. Al Sharpton’s Instagram page
