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\n\tNew York City officials have rejected a proposal to develop a casino<\/a> and resort in Times Square<\/a>, a $5.4 billion project that counted Jay-Z\u2019s Roc Nation among its backers<\/a>.<\/p>\n \n\tRoc Nation<\/a> had partnered with the gambling giant Caesars Entertainment and the major New York City developer SL Green to propose the Caesars Palace Times Square casino. But as The New York Times<\/a> <\/em>reports, the project faced stiff resistance from local residents, as well as Broadway groups and theaters.\u00a0<\/p>\n \n\tThe proposal was voted down four-to-two on Wednesday, Sept. 17, by a six-person Community Advisory Committee charged with approving casinos in New York. The Committee comprises members appointed by elected officials, and makes its decision based on local support for the proposals. The only two committee members to vote in favor of the Caesars Palace Times Square casino were appointed by New York Governor Kathy Hochul and NYC Mayor Eric Adams.\u00a0<\/p>\n \n\tIn a statement shared with Rolling Stone<\/em>, Roc Nation CEO Desiree Perez said, \u201cThank you to Governor Hochul and Mayor Adams for standing up for NYC. Unfortunately, not every politician has the courage and foresight to do what\u2019s right for their constituents.\u201d<\/p>\n