On Wednesday, it was announced that the Rev. Al Sharpton and Ryan Williams, a pioneer in digital real estate investing, are joining forces with the organization trying to bring a gaming venue to Times Square in New York City. This news greatly boosted the drive to bring a casino hotel to the theatrical district.

Hip-hop superstar Jay-Z's entertainment company, Roc Nation, along with Caesars Entertainment and real estate developer SL Green, are part of a group that wants to build a casino hotel at 1515 Broadway.  The civil rights activist's endorsement of the project might have been influenced by the rapper's friendship with Sharpton.

“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 Sharpton in a statement. “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.”

Two days prior to the deadline for submitting applications for the three downstate casino licenses, it was announced that Williams and Sharpton would be backing the proposal.  Caesars Palace Times Square's chances of being approved have decreased due to recent exits from the New York City casino competition, but it is still thought that opening a gambling establishment in Manhattan is difficult.

Investment Opportunities at Caesars Palace Times Square

Williams, the creator of Cadre, one of the top international digital platforms for real estate investing, is using his background in the real estate industry to remove obstacles to real estate investing.

The entrepreneur has proposed allowing locals to invest as little as $500 at Caesars Palace Times Square, which may attract further market participants.  Large developers and affluent investors have always controlled the commercial real estate market in New York City, but the Williams proposal allows regular people to get involved and possibly become wealthy.

“By coupling Rev. Sharpton’s deep community ties with Williams’ proven experience using technology to raise and invest capital over the course of more than 20 years, the partnership has the potential to transform equitable ownership from an aspiration into an actionable, measurable reality,” the statement said.

The Caesars plan is among the most accommodating in terms of minimal investment, but other casino proposals in big US cities, such as a proposal in New York, are trying equity sales targeted at local investors.

There is still opposition to Caesar's Palace Times Square

The Times Square idea has been met with hostility from the beginning, as is the case with almost every previous downstate casino proposal.  There is also widespread opposition among the theatrical community, small businesses in the area, and other groups.

Residents, labor unions, and community organizations will lead a rally in Times Square on Wednesday to express their opposition to the proposed gaming venue.  The rally's organizers contend that Caesars and SL Green's earlier pledges are no longer as relevant given Broadway's recovery and Times Square's decreased crime rate.

“The Times Square casino proposal has generated massive opposition, with 71 percent of Midtown residents opposed in a recent Tulchin Research poll,” according to the opposition groups.