New York City could soon welcome a game-changing attraction that blends luxury gaming, live entertainment, and community investment: Caesars Palace Times Square. Backed by a $5.5 billion proposal, the project is a collaboration between Roc Nation, SL Green, and Caesars Palace, bringing together powerhouses in music, real estate, and gaming with the goal of redefining what a casino can mean for a city like New York.
The proposed development, which would repurpose an existing Times Square building, is anchored by Caesars, the world’s largest gaming system. But the project goes far beyond slot machines and card tables. The casino aims to create an elevated, high-end gaming experience while linking directly to the broader New York economy. Caesars Rewards members, for instance, would be able to use their loyalty points at local businesses throughout the city, funneling revenue beyond the casino’s doors and into restaurants, shops, and cultural attractions.
Over the next decade, the project partners have pledged significant community reinvestment initiatives, including child care, employment programs, LGBTQ health services, and more. As part of the bid, 0.5 percent of the casino’s revenue will be dedicated in perpetuity to community funds, creating sustainable financial support for generations. “We made it contingent upon our license,” said Roc Nation CEO Desiree Perez at a press conference. “So if we get the license, it’s contingent upon us delivering [on our promises].”
Perez emphasized the historic opportunity for Roc Nation and its partners to build something reflective of the city’s diversity. “We, as in our community and our people, have never been in this position and I don’t know if we ever will. We’re in this position that we’ve worked so hard for over the last 25 years and to build businesses, so it hasn’t been easy… Of all the different applicants, we’re the only one that look the way we do. We’re the only ones offering what we’re offering and giving back to the community.”
SL Green Executive Vice President Brett Herschenfeld called the proposal “a once-in-a-generation opportunity” to create a casino the “New York way.” He pointed to Times Square’s history as the heart of entertainment, saying, “A hundred years ago, New York came up with an area that they said should be dedicated to entertainment…and it’s called Times Square. This is a way of uplifting the entire neighborhood. That area really needs protecting, it needs uplift and needs a new stream of income and consumer base that we can bring to the neighborhood.”
The project also introduces groundbreaking equity initiatives through CADRE, the tech-driven investment platform co-founded by Ryan Williams. CADRE has promised to democratize access to commercial real estate, allowing New Yorkers invest directly into Caesars Palace Times Square for a minimum of $500. The new community investment fund, tied to the Caesars brand and Roc Nation’s vision, will allow everyday New Yorkers to share in the economic rewards of the development.