Roc Nation CEO Desiree Perez is making it clear that the company’s proposed Times Square casino isn’t just for wealthy investors. Through a unique partnership with Cadre, New Yorkers can now invest in the multibillion-dollar project for as little as $500.
“It’s just us putting ourselves in our own shoes. We are the people and that’s how we view ourselves,” Perez told Billboard in a recent interview. “We see ourselves more like community people and what the community needs.”
The casino proposal, led by JAY-Z’s Roc Nation in partnership with Caesars Palace and SL Green, aims to transform Times Square’s 1515 Broadway into a world-class gaming and entertainment destination.
The project is competing for one of three downstate casino licenses being awarded by the New York State Gaming Commission.
Making Investment Accessible
The partnership with Ryan Williams and his real estate investment platform Cadre represents a groundbreaking approach to casino ownership.
Williams, who founded Cadre in 2014 after leaving Blackstone Group, has built a reputation for democratizing real estate investment through technology.
“Why can’t someone who lives nearby or in The Bronx or somewhere in New York City, they wanna invest in this project, they hear how much money this is gonna make — it stands to make money the minute it opens it’s not like there is a loss here — how do we get that to the people?” Perez explained.
She described the investment structure as “one fund” where individual contributions combine to support the casino development. “Whatever money everyone deposits into this goes into the investment of the casino,” she said.
JAY-Z Defends the Vision
JAY-Z himself recently defended the casino proposal, telling City & State New York that the project “makes perfect sense.”
The Brooklyn-born mogul emphasized that “New York City is the entertainment capital of the world, so the idea of a world class casino here makes perfect sense.”
“I’ve always looked at opportunities that can shift culture while uplifting communities, and Caesars Palace Times Square is exactly that,” JAY-Z said. “For me, it’s an extension of culture, an extension of the energy and action that makes New York the city it is.”
Beyond the investment opportunity, Roc Nation has committed $250 million in community support over the next 10 years.
The money will fund Broadway support programs, public health initiatives, and security improvements in Times Square and surrounding neighborhoods.
The company also committed to donate 0.5% of the casino’s revenue to the West Side Community Fund in perpetuity.
“There are people who don’t have enough money to be part of any type of investment fund, so this is the ability to let just regular New Yorkers be part of this,” Perez said.
She contrasted this approach with traditional Wall Street investment firms, noting that the casino partnership aims to include everyday residents rather than just wealthy institutions.
Addressing Opposition
Perez acknowledged pushback from some quarters, particularly the Shubert Organization, which owns 17 of Broadway’s 41 theaters. However, she maintained that actual community residents support the project.
“I don’t believe that the actual human beings that live in the buildings — not the rich people that own the theaters — are the ones that are against the casino,” she said.
The final decision on casino licenses is expected to be made later this month, with the last public hearing scheduled for September 11. If approved, Perez promised that community investments would begin immediately, even before the casino opens.
“The day after we’re paying. We don’t have to build out our casino or be in business in order to pay the money,” she said. “It would be the quickest money to the ground for the community.”