This week’s casino news starts off in the Big Apple where Caesars is trying to land a casino right in the middle of Times Square. They’ve enlisted one of the biggest music artists in the world to help and it just so happens he’s synonymous with New York.
Jay-Z Helps Efforts For Caesars Times Square Casino
World-renowned and celebrity Jay-Z has is helping out Caesars Entertainment in what many feel might be the start of a long-term partnership. He’s going to be getting his name in the mix involving a potential Caesars casino property being moved right into the middle of New York city. Jay-Z’s entertainment agency, Roc Nation, has already stated that they would become the “official entertainment partner” of the operators bid for a casino in Times Square.
Jay-Z has openly stated that New York is “the epicenter of culture” and that his partnership has the potential for tremendous economic opportunity and growth. SL Green is one of the largest landlord offices in New York right now and are also on board with the project. They currently have some form of interest in 62 buildings in the city.
It’s been reported that Caesars Palace Times Square is going to be privately funded the entire way. The company is looking to advertise and license their brand after getting it built, continuing to manage all operations afterwards as well. Should they succeed, they’ll have a casino in the hub of one of the business areas of the world. That would likely lead to a lot of foot traffic and a lot of revenue for the venue, brand and Jay-Z.
Encore Boston Harbor Gains Sportsbook License For First Time In State History
The state of Massachusetts saw the Encore Boston Harbor make history this past week. The property was given the first sports betting license that the state has ever handed out. The Massachusetts Gaming Commission came to the conclusion that Encore Boston Harbor was certainly good enough to be awarded with the Category 1 license, which was a good sign. Considering that both MGM Springfield and Plainridge Park both failed to get their licenses after submitting applications, this will give the Encore an early leg up on the competition.
Encore Boston Harbor has learned from the mistakes that both MGM and Plainridge made and were fully prepared for any questions that came their way in the licensing process. Plainridge got delayed voting because they didn’t have enough information regarding their operating parent and also shared concerns regarding their relationship with Dave Portnoy, the Barstool Sports founder.
MGM, on the other hand, got caught off guard when asked to reveal confidential information about their inner workings. MGM had just told them that their current management wouldn’t be leading their upcoming business, which is where additional concerns arose. As a result of Encore Boston Harbor getting past where other brands got tripped up, they’ll be first to market.
Hard Rock Bristol Casino Might Be Moving Forward
A potential Hard Rock casino property in Bristol, Virginia might be on the way very soon. It was just announced that the Bristol community was working alongside Hard Rock International to determine a good spot for a permanent casino in the state.
The Virginia Lottery Board currently sits atop the chain as the regulatory authority for casino gaming. All operators under state law will have to pay roughly 18 percent of their first $200 million revenue earned. This is on top of additional taxes upon earning further revenue.
A new potential Hard Rock property would be 300,000 square feet with a sportsbook, 1,300 slot games to choose from and 50 table games as well. The economy has been projected to thrive after this new building, with nearly 1,000 jobs getting created just to top it all off.
