Caesars Palace Times Square forms inclusive ownership collaboration

The effort will look to enable local households to participate in the Caesars Entertainment project with accessible investment opportunities beginning at $500.

Caesars Palace Times Square has partnered with Reverend Al Sharpton and Cadre Founder Ryan Williams to pursue an inclusive ownership model for the hotel casino bid, including opportunities starting as low as $500. 

“This initiative overcomes longstanding barriers. Through the Rev’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,” Williams said. 

“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.”

This partnership was said to build upon Caesars Entertainment’s commitment to “supporting the wellbeing of people and the communities in which they operate,” as the proposal for a Times Square property was originally put forward with SL Green Realty Corporation and Roc Nation. 

Good to know: Caesars Palace Times Square issued a $5m commitment toward Callen-Lorde services and the launch of a Center for Excellence in Sexual Health on June 24, contingent on the proposal successfully obtaining one of three downstate New York gaming licenses

“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,” SL Green Chairman and CEO Marc Holliday said. 

“In every aspect, Caesars Palace Times Square is being designed to ensure its benefit is shared with communities across New York City.”

The coalition supporting the Caesars Palace Times Square bid now includes over 200 organizations and businesses such as local restaurants, hotels, residents, unions and Broadway stakeholders.

Kirk Geller

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