For the most part, whatever legendary rapper and celebrated businessman Jay Z touches, it usually turns to gold. However, as much as we’d like to believe that this is true, not everything Beyonce’s beau puts his name to ends up being a success.
The 45-year-old rapper is a veteran of 15 full-length albums, and has won a list of high profile awards during his career. He’s performed at all the major festivals in the world including Coachella and Glastonbury. His music career and businesses have reported made him worth a staggering $560 million according to Celebrity Networth.
Apart from owning a long list of businesses and endorsing the likes of Chevy and Budweiser, there are some deals that have slipped through the fingers of the music mogul.
Unbeknown to many, in 2010 Jay Z failed in an attempt to buy a New York casino as a joint partnership deal with New York Governor, David Paterson. During this time the deal was being kept quite but once it fell in the hands of the media, Paterson was caused to pull the plug on the deal.
After Paterson refuted claims that Aqueduct Entertainment Group (AEG) had their plans for the casino and racetrack venture approved because of his friendship, he was caused to kibosh the deal in order to save face. During this time Jay Z was set to invest a huge part of the fortune he had accumulated into the venture.
Even if the deal would have gone through, many casino industry experts were questioning whether it was a good business venture for the rap superstar. During this time, online casino businesses were dominating the market and causing many land-based casinos to close because of huge losses due to the consumer preferring to play online. So the timing of this costly venture was being questioned by many.
With online casino gaming being launched 13 years prior to this through InterCasino, the aforementioned period had been anything but lucrative for casinos across the States. But what experts weren’t to know was that in 2011 Black Friday would close all online casino sites in the country and thus hand back casinos large revenue streams. Therefore in hindsight the venture would have gone in Jay Z’s favor if he would’ve been able to push the deal through.
It all goes to show, that even if we are led to believe that everything goes in the favor of the rap superstar, not every business deal is handed to him on a silver platter.