Jay-Z is serious about his plan to develop a casino in Times Square in Manhattan, N.Y.

On Friday (May 11), Roc Nation shared an open letter on its Twitter page spelling out the plans to bring gambling to Broadway. The letter was also published in several newspapers.

"A gaming license is going to be awarded to New York City," the open letter begins. "A bill was passed in the state legislature confirming it. The question is: which applicant will get the license? Some conflicted parties have attempted to spread misinformation, so we wanted to speak to you, New York City, directly."

"The winning licensee must always put the well-being of New Yorkers at the top of their agenda and do right by its residents," the letter continues. "This is too important of a moment in our city’s illustrious history. Times Square, the epicenter of entertainment with a palpable energy, is unmatched. Roc Nation and our partners are here to ensure Times Square remains connected to all facets of culture. There’s no better location for a Caesars Palace entertainment destination than the Crossroads of the World."

The letter also lays out how the casino would benefit the area including giving "back to all surrounding businesses, benefits mass transit, invests money into sanitation and security from the bowtie all the way west to Hell's Kitchen."

Roc Nation has joined SL Green Realty Corp. and Caesars Entertainment on its bid to get a casino in The Big Apple. Others making bids include New York Mets owner Steve Cohen, Miami Dolphins owner Stephen Ross, developer Stefan Soloviev and grocery store magnate John Catsimatidis.

According to the New York Times, the winning bidder must have $1 billion in investment capitol and for additional fees. The winner will likely be chosen later this year.

See Roc Nation's Open Letter About Plans to Open a Casino in Times Square Below

See Rappers' Other Streams of Income

More From 107.3 KFFM