Cohens casino gets City Council approval

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The company struck a deal with the Trump Organization to take 17 acres of the 300-acre property that adorns the Trump name. The city owns the property, and Trump’s company had a 20-year contract with the Parks Department to operate it as a golf course. According to Soloviev, the overall project is being dubbed “Freedom Plaza,” and it would also include the construction of a museum dedicated to democracy. Related Companies, a New York City real estate giant, and Wynn Resorts are looking to build a casino from the ground up in an undeveloped area of Hudson Yards, located on the Far West Side of Manhattan.

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Rolling the dice: Who will win three coveted New York City-area full casino licenses?

Besides evaluating casinos based on these factors, we push them to remove unfair rules from their T&Cs, resolve complaints in a fair way, and stop unfair treatment of players. A casino is at the heart of the Metropolitan Park plan, which is entirely contingent upon the venture receiving one of the three coveted downstate gaming licenses. The two “racinos” at Aqueduct and Yonkers Raceway appear to be favorites for winning two of the three downstate casino licenses.

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On Tuesday, the Council’s Land Use Committee voted unanimously in favor of the plan and left little doubt that it would pass a full vote on Wednesday. Adding to its guarantee of success was the support it received from the local councilmember, Francisco Moya. The Council often votes the way of the local councilmember, a practice known as councilmember deference. No matter what proposal is approved, legislators such as Addabbo want the decision to come quickly, noting that the longer the state takes to award the licenses the longer it will be before the state benefits from the revenue. Steve Cohen, the billionaire owner of the New York Mets, has floated the possibility of building a casino as part of an entertainment complex on the 50-acre asphalt parking lot next to Citi Field. Additionally, the terms and conditions also indicate how long it may take for bonuses to be distributed.

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The three Manhattan casino proposals, meanwhile, are filled with the kind of glitz and glamor that captures the imagination and may prove to be offers too good for the state to refuse. Resorts World’s expansion plan includes the creation of a new 50-acre park on the Aqueduct Racetrack site, as well as a 7,000 sq. In February 2024, Resorts World rolled out a $5 billion expansion and redevelopment plan should it receive a full gaming license. Both Resorts World NYC and MGM Empire city are likely to have little community resistance, pundits say, and would be able to convert to a full casino relatively quickly. Furthermore, they have the infrastructure needed for expansion, with parking and access to highways.

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• On Tuesday, the Council’s Land Use Committee voted unanimously in favor of the plan and left little doubt that it would pass a full vote on Wednesday.
• While the local assemblymember, freshman lawmaker Larinda Hooks, is a major supporter of the project, her counterpart in the Senate, mayoral candidate Jessica Ramos, is perhaps its fiercest opponent.

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In November, all five of the community boards charged with reviewing the plan voted in favor of Cohen’s casino. Still, The Coney project has had a difficult time winning over local residents. In January, local Community Board 13 recommended denial of the application, with residents skeptical that Thor Equities would come through with its promises of $200 million in community investment. On Wednesday, Bally’s Corporation announced a community benefits agreement for the project that pledges to provide more than $200 million in community investment. The gaming giant says the Bronx casino will also provide 15,000 construction jobs and more than 4,000 permanent jobs for local residents.

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Bally’s plans to develop a 500,000-square-foot gaming hall on the Bronx site, along with a 500-room hotel with a spa and meeting space, retail shops, a 2,000-seat event center, and two parking garages with capacity for up to 4,660 vehicles. The development would be spread across 16.75 acres on the public golf course at the park. The bidders include some of the state’s wealthiest interests, often in partnership with major gaming outlets across the country — stretching from Connecticut to Las Vegas.