NEW YORK | Casino Development| FT| FLOORS

[NYguy]

https://nypost.com/2024/05/13/us-new...to-citi-field/

Mets owner Steve Cohen makes hardball pitch for support for $8 billion casino project next to Citi Field





By Carl Campanile and Dorian Geiger
May 13, 2024

Hundreds of civic leaders, small business owners and residents rallied in Queens Monday to back Mets owner Steve Cohen’s $8 billion “Metropolitan Park” plan to build a casino complex project next to Citi Field — a hardball bid to woo resistant state Sen. Jessica Ramos to support the project.

Billionaire Cohen needs Ramos to move legislation in Albany to re-designate the parking lots and other property around the Mets ballpark from parkland to commercial use in order to bid on the project.

Ramos has refused to do so since Cohen made the request more than a year ago — and there are only a few more weeks remaining in the 2024 legislative session.

Supporters chanted and carried signs saying, “We want jobs,” “We Deserve Nice Things,” “No More Asphalt,” “We want generational wealth” and “Moms for Metropolitan Park.”

Going to bat for the casino project were parishioners of First Baptist Church of Corona, who said the project would generate job opportunities and entertainment for nearby Queens residents.

Dwight Young, 25, said the casino plan “provides an opportunity for young men, young people to … generate generational wealth.”

“As a black man inside of East Elmhurst, New York, especially in Queens, we haven’t had a lot of opportunity to get a lot of jobs and build generational wealth inside our community,” he said.

His mom, Valerie Young, 60, said it was important to have entertainment options in Queens.

“I travel too far to experience it in other boroughs. We deserve it here. With everything changing, our community is changing — people need jobs. We need whatever we can to generate sustainability. We deserve it.,” she said.

Eddie Valentin, owner of pioneering LGBTQ bar Friend’s Tavern, said the casino-entertainment complex was a home run.

“I say we do this. We do this, not only because we’re turning a black tar, ugly space into something beautiful for the future and for the children of the neighborhood but at the same time, we’re going to be uniting a lot of people who are coming for different concerts, who are coming for the hotels, and who’s coming for a better Flushing Meadow Park,” Valentin said.

“Anytime I go to a concert, anytime I go to anything I have to an outer-borough to do it. Why can’t it be that I can’t just take my beautiful number 7 train, go four stops, and find the same thing there? Why do I have to go to Brooklyn? ….Why do I have to go to Nassau County or Suffolk County to go to a concert? Why can’t I do it here?

Ramos, asked about the Cohen squeeze play on her turf, said in a text statement, “Steve Cohen is doing his job trying to win support for his casino bid, and I’m doing mine in Albany representing my constituents.”

Other Queens officials back the project.

Councilman Francisco Moya and Assemblyman Jeffry Aubry, who also represents the neighborhoods around Citi Field, have pledged their support, as has Queens Borough President Donovan Richards.

“Why would you want to lose $8 billion inside your backyard? It’s ridiculous,” said one Queens political insider, who requested anonymity so as not to jeopardize the chance of Ramos joining the casino team.

[NYguy]

[NYguy]

[NYguy]

https://commercialobserver.com/2024/...sino-proposal/

Thor and Partners Release Scale of Coney Casino Proposal


BY MARK HALLUM
MAY 16, 2024

Thor Equities is honing the scope of its casino proposal for Coney Island, Brooklyn, a project now simply known as The Coney.

Thor and its partners — Saratoga Casino Holdings, the Chickasaw Nation and Legends — have plans beyond blackjack tables. They announced Thursday that the $3 billion development plan will include a 500-room hotel, a 2,500-seat concert venue, 70,000 square feet of retail and 90,000 square feet of meeting and event space.

“For two years we have been speaking with the residents of Coney Island and Southern Brooklyn about the need for a project that creates careers, supports local businesses, and centers entertainment around the idea of a playground that is truly accessible to the people,” Sam Gerrity, the CEO of Saratoga, said in a statement. “[Coney Island] needs a project that provides year-round economic support while also lifting up the infrastructure in one of the most densely traveled areas of the community.”

The updates to the plan follow the New York City Council in April passing legislation to grant any developer who wins one of the three available downstate casino licenses a zoning amendment for a facility in a high-density and commercial manufacturing district as of right.

[montydawg]

I’m all for development, but this casino looks like it is designed to suck money out of the pockets of middle class working people. I personally think this and online sports betting is a cash grab by the wealthy, preying on average people.

[NYguy]

Originally Posted by montydawg

I’m all for development, but this casino looks like it is designed to suck money out of the pockets of middle class working people. I personally think this and online sports betting is a cash grab by the wealthy, preying on average people.

OK. But for the record, as anyone should know, nobody is forcing anybody to go into a casino anywhere or gamble. Just as I mentioned earlier, nobody is forcing anybody to go into a bar and drink. Yet bars exists. Casinos exists. That can only be because of choice. And also for the record, actual casinos are only a small part of these proposals. In the case of Coney Island, it is sorely needed development and jobs for an area of the city that has been neglected for decades. Decades. That means generations have grown up and known only the blighted area that has been there. Let's not get all high and mighty, and pretend this development wouldn't be better than the nothing that is there now.

[DCReid]

How many casino licenses will be awarded to NYC? I am thinking that one could one be awarded to a tourist-oriented area and one to a more local NYC area....

[NYguy]

Originally Posted by DCReid

How many casino licenses will be awarded to NYC? I am thinking that one could one be awarded to a tourist-oriented area and one to a more local NYC area....

There will only be 3 in the NYC area.

[NYguy]

Meanwhile, the Coney Island team begins approvals for the necessary changes needed to get it's massive development underway, should they receive a license.



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Massing of the alternative, provided for purposes of the study...


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[NYguy]

https://www.forbes.com/sites/markfai...-in-3bn-boost/

Coney Island Casino, Retail And Leisure Scheme Planned In $3 Billion Boost

Mark Faithfull

To be called The Coney, the proposal includes over 70,000-sq.ft. of retail and at least a dozen restaurants, plus a 500-room hotel, a 92,000-sq.ft. convention center, and a 2,500-seat concert venue and over an acre of new publicly accessible open space.

Pedestrian walkways and skybridges would connect the new and existing developments and the mixed-use scheme is slated to start next to the Coney Island subway station, the terminus for the D, F, N and Q line trains.

The scheme also has the backing of Saratoga Casino Holdings; the Chickasaw Nation’s business entity, Global Gaming Solutions; and Legends, the casino's entertainment partner that was founded as a joint venture between the New York Yankees and the Dallas Cowboys.

New York City's original and traditional seaside resort and summer playground, Coney Island has long struggled to become a year-round destination and the proposal, which has backing from the Brooklyn Chamber of Commerce, has reportedly received more than 10,000 signatures in support.

Late last year the Coney Island Taproom closed its doors after 10 years in business, citing the “seasonality of the area” — which teems with beachgoers in the summer but during the winter sees footfall drop off a cliff. Applebee’s, Wahlberger’s and Kitchen 21 are among others to have shuttered their doors.

In an attempt to extend the trading season, the iconic Luna Park in Coney Island opened for the first time since it debuted 120 seasons ago during some of the winter as part of a new holiday celebration dubbed Frost Fest.

From November 18 2023 through January 7 2024 visitors were able to experience the rides, use a new skating rink, take in the holiday lights and decor and go holiday shopping.

https://pix11.com/news/local-news/ma...casino-survey/

Times Square residents don’t want proposed casino: Poll

Jonathan Rizk

Tulchin Research surveyed 400 registered voters, and 71% said they are against the idea. Only 9% of those polled said Times Square is the best location in New York City for a casino, while 80% said they’re concerned a casino would attract more crime.

https://nypost.com/2024/05/16/us-new...traffic-fears/

Only 23% of voters say they favor opening a casino in Times Square, according to the survey, which was financed by the No Times Square Casino Coalition that includes the influential Broadway League of Theater owners.

[NYguy]

https://nypost.com/2024/05/19/us-new...-on-the-table/

Lawmakers push to speed up NYC casino licenses timetable: ‘We’re leaving $2B on the table’


By Carl Campanile
May 19, 2024

Two state lawmakers say it’s time to roll the dice on awarding casino licenses in the New York City area and are backing a bill that would speed up the current much-criticized timetable.

Sen. Joseph Addabbo (D-Queens) and Assemblyman Gary Pretlow (D-Mount Vernon) are pushing a proposed law in the waning days of the state legislative session that would require bids to be submitted by July 31 of this year and the gaming commission to approve the three casino licenses by March 31 of next year.

The state gaming commission recently announced that the casino licenses wouldn’t be awarded until Dec. 31, 2025, triggering denunciations including from a top Sands casino official who wants to open a gaming facility at the Nassau Coliseum hub in Uniondale, LI.

Some industry sources say the more drawn-out timetable benefits bidders facing political resistance or ongoing zoning or land-use issues.

Those bidders include Mets owner Steve Cohen, whose hope is to build an $8 billion casino and entertainment complex next to Citi Field in Queens, and the Related Companies/Caesars, which is proposing a $12 billion casino/office tower complex in Hudson Yards in Manhattan.

Meanwhile, sources say the proposed faster time frame boosts the chances of existing slots parlors — Resorts World at Aqueduct race track and MGM Empire City at Yonkers raceway — who want to obtain a license.

Both entities already have facilities and would merely have to expand to offer live card table games.

Addabbo and Pretlow insist they’re not putting their thumb on the scale to favor anyone.

[NYguy]

https://www.playny.com/did-you-know-...ssful-america/

Did You Know? Two NYC-Area Casinos Are Among Most Successful In America

Written By David Danzis
May 24, 2024

One of the lesser-known facts about the United States gambling industry is that the greater New York City region is one of the country’s largest legal markets.

Many would assume that the popularity of New York sports betting is the primary cause, and it would be difficult to counter that point.

In the relatively short time since the Empire State launched online sports wagering, New York has established itself as the largest US market in terms of total handle (the amount bet), operator revenue and generated taxes.

However, mobile sports gambling is not part of the calculation in identifying the greater NYC area as a significant force in legalized gambling in the US. Believe it or not, sports betting has almost nothing to do with it.

New York casinos keeping up with the big dogs


In 2023, Resorts World New York City was the highest-grossing commercial gaming property outside Nevada, according to data from the American Gaming Association.

Meanwhile, Empire City Casino was number six on the same list, trailing only the two mega resorts in Maryland (MGM National Harbor & LIVE!), the Wynn-backed property in Massachusetts (Encore Boston Harbor) and Atlantic City’s best-performing casino (Borgata Hotel Casino & Spa).

Based on the AGA’s Commercial Gaming Revenue Tracker, the Queens/Yonkers region was the sixth-largest market in the country last year, generating over $1.5 billion in annual revenue. Only the Las Vegas Strip, Atlantic City, Chicagoland, Baltimore-Washington DC and the Gulf Coast regions generated more gambling revenue last year.

Those rankings are based on the annual sum of slot machine, table game and retail sportsbook revenue.

[NYguy]

https://www.nytimes.com/2024/05/28/n...en-casino.html

State Senator Opposes Casino Proposal in Queens, Rebuffing Mets Owner
Jessica Ramos, a state senator from Queens who is considering a run for mayor, moved to stop a proposal from Steven Cohen, the billionaire owner of the New York Mets.


By Emma G. Fitzsimmons and Dana Rubinstein
May 28, 2024

Ms. Ramos said that she resented the pressure she had received from the bid to support the proposal after her community had faced “generations of neglect.”

“We want investment and opportunity, we are desperate for green space, and recreation for the whole family,” she said. “We disagree on the premise that we have to accept a casino in our backyard as the trade-off.”

….. The vast team of lobbyists and consultants assembled by Mr. Cohen and Hard Rock could spend much of the next year trying to change Ms. Ramos’s mind or maneuver around her.
The only likely workaround in the State Legislature would be for Mr. Cohen and Hard Rock to persuade one of Ms. Ramos’s colleagues to introduce the necessary legislation, but the Legislature typically defers to local lawmakers on issues affecting their districts, and it is considered unlikely that a state senator would break that practice.

Ms. Ramos, whose intentions were first revealed in a lengthy article in New York magazine published early Tuesday, said that she would make an alternative proposal that would permit Mr. Cohen and his partners to build a convention center and hotel on a parcel of land near La Guardia Airport, allowing them to “still make a profit, albeit less.”

https://www.hudsonriverblue.com/sena...mlb-nycfc-mls/

Senator Jessica Ramos: Steve Cohen's casino at Citi Field "all but dead"
New York Magazine drops bombshell that Mets owner's $8 billion "Metropolitan Park" casino won't get Albany approval.


OLIVER STRAND
May 28, 2024

The epic article by Noah Shachtman, titled "New Jackpot City," drops us into the middle of the frenetic endgame for the single downstate New York casino license that will allow a developer to reap unimagined profits "and remake an entire section of the city" in exchange for a $500 million fee and an agreement "to pay tax rates approaching 70 percent."

Up until this morning, the leading candidate was New York Mets owner Steve Cohen, whose Metropolitan Park proposed to turn 50 acres of Citi Field's parking lot "into a top-of-the-line casino and resort, with a Hard Rock Hotel, several restaurants, a concert venue on par with Radio City, a manicured new green space, and more."

In addition, Cohen promised to rebuild the subway station, and underwrite new medical and mental-health centers. His family foundation already "donated $116 million to a local community college for a 'workforce training center,' the largest in the City University of New York system’s history." What's a few billion dollars in giveaways when tens of billions of dollars in profits are on the line?

https://qns.com/2024/05/sen-ramos-de...de-citi-field/

Sen. Ramos delivers potential death blow to Mets owner’s dream of a casino alongside Citi Field

By Bill Parry
Posted on May 28, 2024

State Senator Jessica Ramos dealt a serious blow Tuesday to New York Mets owner Steve Cohen’s dream of building a massive casino and entertainment complex on the parking lot adjoining Citi Field where Shea Stadium once stood.

Ramos announced she would not support the $8 billion Metropolitan Park proposal, rejecting major pressure from her colleagues in government, including Queens Borough President Donovan Richards, and community leaders from nearby neighborhoods, who urged her to support permitted use legislation that would be required to build the complex on state-owned public parkland.

Ramos is moving ahead with new legislation that would authorize the City of New York to allow development on the 50 acres of parking lot that is technically part of Flushing Meadows Corona Park.

“I have drafted an alternative alienation bill that strikes a balance and would allow Mr. Cohen and Hard Rock to build a convention center and hotel, and more than double the proposed open green space,” Ramos said. “The parcel in question is in strategic proximity to LaGuardia Airport and allows for visitors and tourists to feed into our vibrant food scene while addressing the consequence of climate change in the area. Mr. Cohen and Hard Rock would still make a profit, albeit less.”

[NYguy]

Don't think I've ever seen this Bronx Bally's rendering. It's not happening so...


https://nymag.com/intelligencer/arti...t-runners.html





Another look at the Long Island proposal...






Con Ed site...






Yonkers proposal...

[NYguy]

https://nypost.com/2024/05/28/us-new...ts-citi-field/

Without the rezoning, Cohen’s project can’t even get into the batter’s box for consideration by state regulators, who are currently fielding his city casino bid and a host of others.

Theoretically, another state senator could introduce the bill to aid Cohen’s plan. But lawmakers are reluctant to big-foot a colleague on a project important in his or her district, and it would be rare to do so, sources said.

As an alternative, Ramos said she has drafted a bill that would allow Cohen to build a convention center and hotel — but not a casino — and more than double the proposed open green space.

“Mr. Cohen and Hard Rock would still make a profit, albeit less,” she acknowledged in her statement.

“Mr. Cohen and his team have often declared their love for our community and said they recognize our potential. Finding a path forward would be a good way to show it.”

Ramos, asked by The Post if she could be thwarted in any way in her quest, replied, “I would be very surprised.

“I think that would be a disservice to our legislative body if members’ wishes were not respected,” she said. “I’m in a position to defend the will of my constituents, and I would be shocked actually, I would be very surprised, if the state senate would allow for someone else to introduce such legislation.”

….. But Cohen’s problem in Albany could also negatively impact another bidder, Bally’s, which last year acquired the lease for the former Trump golf course at Ferry Point in The Bronx. Bally’s project also needs legislation to convert parkland there for use as a casino.

In either case, Ramos will represent one of the six votes on the state committee that approves the sites when that gets underway. It doesn’t look good for Cohen.



https://www.nytimes.com/athletic/552...asino-setback/

Cohen’s plans to build a casino in the parking lot of the New York Mets’ Citi Field were dealt a significant blow Tuesday, when New York State Senator Jessica Ramos said she will not introduce legislation needed to advance the project, which is in her district. Cohen’s group has in turn said it will now try to work around her, an effort that Ramos positioned as unlikely to succeed.

[NYguy]

https://www.casino.org/news/ballys-b...land-quagmire/

Bally’s Bronx Casino Bid Faces Parkland Quagmire


May 30, 2024
Todd Shriber

In what could prove to be a sequel to a scenario that played out in Queens, an effort to position a Bronx golf course for a New York City casino license could be stymied by lack of political support to alienate the course’s parkland designation.

Last year, Bally’s acquired the least rights to the golf course formerly known as Trump Golf Links at Ferry Point in the Bronx with hopes of bringing a casino hotel to the site. Due to the fact that the property in question is currently designated as parkland, that classification must be removed via legislation — something that appears increasingly unlikely to happen over the near-term.

Assemblyman Michael Benedetto (D-The Bronx) represents the district that includes Ferry Point and he said he’s not proposing a bill to remove the parkland designation.

"I am certainly listening to the thoughts and concerns of my constituents before making a decision here to support or oppose this proposal,” Benedetto said in a written statement to The City. “I have not introduced any legislation to alienate parkland.”

Hoping to jumpstart the parkland alienation conversation, Assemblyman Gary Pretlow (D-Mount Vernon) on Tuesday introduced a bill that calls for “parkland in Ferry Point Park” to be altered to use for a “gaming facility.” If that legislation is signed into law, Bally’s would have 15 years to build a casino hotel on the Bronx land and if that doesn’t happen, the parkland classification would be restored.

Should support for parkland alienation at Ferry Point, Bally’s has some options, but they aren’t appealing. The regional casino operator could find a way to use land at Ferry Point that isn’t subject to the parkland label or it could find another site.

Given the weakness of Bally’s balance sheet and its financial commitments in Chicago, which are far from being met, some investors have encouraged the company to scrap its pursuit of a New York license to conserve cash.

In addition to Benedetto not rushing to introduce a parkland alienation bill, State Sen. Nathalia Fernandez (D) said such legislation isn’t on her radar and there are higher legislative priorities at the moment.

Add to that, unless Gov. Kathy Hochul (D) calls a special session, New York policymakers have until June 6 to introduce new bills, meaning time isn’t on the side of any effort to remover Ferry Point’s parkland classification.

Assuming Bally’s and Cohen/Hard Rock depart from the downstate casino competition, that would pare the field to nine contenders, several of which aren’t dealing with land use issues.

[NYguy]

A few updates from the Brooklyn Community Board 13 meeting...


https://www.youtube.com/live/n-xMV4Y...3vAzTHBnBTbWaq


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[NYguy]

https://www.thecity.nyc/2024/05/30/b...ks-alienation/

Key Bronx Lawmakers Yet to Back Crucial Legislation for Bronx Casino
Bally’s gambling complex proposal at the former Trump Links in Throggs Neck relies on getting state approval to alienate parkland, but lacks local leaders’ support as the legislative session winds down.





BY JONATHAN CUSTODIO
MAY 30, 2024

The odds for a proposed Bronx casino could be getting dicey as local lawmakers resist permitting use of local park space — paralleling pushback that is complicating a gaming pitch for Queens.

The resort operator Bally’s is seeking to build a 3.1 million-square-foot complex within Ferry Point Park in Throggs Neck, where it already operates the city-owned golf course formerly controlled by a company associated with former President Donald Trump.

As described by the Office of the Deputy Mayor for Housing, Economic Development and Workforce, which is seeking environmental review for the proposed project, “Bally’s Bronx” would feature a half-million-square foot gaming hall as well as food and beverage service, a hotel with a spa and meeting space, retail shops, a 2,000-seat event center and a parking garage for up to 4,660 vehicles.

The city’s proposal will be the subject of a public hearing next month as the first step of environmental review related to widening a road within the park.

But the proposed project would also require the state legislature to approve “alienating” some park land for commercial purposes, with support of local Bronx representatives — and no such legislation has been drafted as this year’s legislative session enters its final days.

One of them, Michael Benedetto (D-The Bronx), told THE CITY he has not taken action this session.

“I am certainly listening to the thoughts and concerns of my constituents before making a decision here to support or oppose this proposal,” Benedetto said in a written statement. “I have not introduced any legislation to alienate parkland,” he wrote, and “I am not advocating for any alienation bill.”

Benedetto’s statement to THE CITY comes on the heels of the announcement this week by State Sen. Jessica Ramos (D-Queens) that she will not support legislation to alienate parkland in Willets Point currently used as a Citi Field parking lot, action that had been requested by Mets owner Steve Cohen for his own casino proposal. The state legislature customarily allows the local member to decide whether or not to introduce such a measure, effectively giving them a veto.

“This is an absolute barrier,” Rebecca Bratspies, a CUNY School of Law professor specializing in environmental law, told THE CITY. “You cannot alienate parkland without an act of the legislature,” precisely because it “is so precious and so vulnerable” a public resource.

The last day on the calendar for the State Legislature to introduce bills without a special session is June 6. The New York State Gaming Commission is reportedly expected to award licenses in late 2025. `