Jay-Z Drops Investment Plans

By Super Admin

Wednesday, June 1, 2011, 15:57

Jay-Z drops his plans to invest in a racetrack casino project the state officials allegedly ordered all backers to hand over detailed records of their finances.

Jay-Z, the 40-years old rapper, owns a share in the Aqueduct Entertainment Group (AEG). So he had got a contract to add video slot machines to new york City"s Aqueduct Racetrack in Queens.

But he has pulled out the plans. The new rules from the authorities forces all the investors to submit comprehensive records on their own finances, and those of their spouses, to the state. The order would mean the rap star and his superstar wife Beyonce would have to turn over private details of their finances. This has made him to pull out all his plans, says the reports.

The project is now reportedly set to go ahead without the investment of the star.