Caesars Palace plans to include low-income households in Times Square casino project
Caesars Palace casino Times Square has entered into a partnership with Reverend AI Sharpton and Ryan Williams, the founder of digital real estate investment platform Cadre, to allow low-income households in New York the chance to invest in its proposed casino project.
The partnership will allow local people access to investment opportunities starting at $500 for Caesars Palace Times Square, the proposed gaming and entertainment destination at 1515 Broadway in Times Square.
“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 Rev. Al Sharpton.
“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.”
This news could strengthen the argument for Caesars Entertainment to get the first NYC casino license. Metropolitan Park and Mohegan are competing with the Caesars Palace idea, which now looks to strengthen its community benefits with these partnerships.
“This initiative overcomes longstanding barriers,” said Ryan Williams, founder of real estate investment manager Cadre.
“Through Reverend AI Sharpton’s extensive network and our shared dedication to economic inclusion, we will move from promises to real progress, delivering tangible investor education and meaningful equity investment opportunities for everyday New Yorkers.
“More than a decade ago, I introduced a model that expanded real estate investment opportunities to a broader audience. Now, we are applying this approach to one of the most ambitious developments of our generation, with the goal of opening doors to financial opportunity for more New Yorkers than ever before.”
Future plans for Caesars Palace Times Square
The Caesars Palace Times Square proposal would re-use an existing office building at 1515 Broadway, which is located in the heart of New York City’s iconic entertainment district.
The bid now has the support of more than 200 organizations and businesses including local restaurants, hotels, residents, unions and Broadway stakeholders who stand to benefit from – rather than compete with- this exciting new project.
In 2024, Caesars Entertainment created $10bn globally in economic value distributed to its stakeholders with its total community investment reaching more than $71m.
The opportunity for local people to directly benefit from the project and any investment they choose to get involved in will surely make the Caesars Palace Times Square proposal the strongest bid.
It’s hard to argue with Marc Holiday, SL Green Chairman, CEO and partner to this bid. “In every aspect, Caesars Palace Times Square is being designed to ensure its benefit is shared with communities across New York City.”
News of this investment opportunity for low-income households might make locals get behind the idea, that’s if they weren’t behind it already.
