Nas Wins Key Approval for $5 5 Billion Queens Casino Project But How Much Will He Personally Own?

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He wanted to eventually bring the team over the Brooklyn to be the anchor tenant in his planned Barclays Center project. Jay-Z chipped in $1 million to buy a slice of the team. By the late 20th century, though, attendance at horse racing tracks had fallen off sharply. The Aqueduct property, sprawling across more than 200 acres next to JFK Airport, was valuable real estate, but its traditional use was fading.

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Nas Wins Key Approval for $5.5 Billion Queens Casino Project – But How Much Will He Personally Own?

I truly hope this casino project becomes an enormous success for you, for the people of Queens, and the people of New York. That’s the million… or maybe even billion-dollar question. So far, neither Resorts World nor Nas has disclosed the size of his stake in the Queens casino project, and it’s important to set realistic expectations.

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  • As a reminder, the project carries a $5.5 billion price tag, funded primarily by Genting Group.
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Casinos are often built near or combined with hotels, resorts, restaurants, retail shopping, cruise ships, and other tourist attractions. Some casinos are also known for hosting live entertainment, such as stand-up comedy, concerts, and sporting events. The term casino is of Italian origin, from the root word casa meaning “house.” Originally, the term referred to a small country villa, summerhouse, or social club. During the 19th century, casino came to encompass other public buildings where pleasurable activities took place.

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That changed in 2023 when New York lawmakers authorized up to three full casino licenses in the downstate region. Resorts World, with its existing facility, workforce, and track record, instantly became a frontrunner. He appeared in Resorts World’s promotional materials, spoke at press conferences, and has tied the project directly to his hometown roots.

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