Casino Plan in Queens Advances with Committee Approval
April 29, 2025, 03:05h.
Last updated on: April 29, 2025, 03:05h.
Todd Shriber @etfgodfatherRead MoreCasino BusinessGaming IndustryReal Estate Steve Cohen's grand casino hotel vision for Queens, NY moves forward with a key Senate committee vote.
Taking another stride in his quest to revitalize Queens, NY, businessman Steve Cohen's ambitious project, "Metropolitan Park," received another boost this week when a state Senate committee gave the thumbs-up for construction on a parking lot near Citi Field.
This critical decision could bolster Cohen's $8 billion plan for the "50 acres of asphalt" - formerly known as Willets Point - that have sat idle for decades just a stone's throw from the Mets ballpark. At stake is the future of this unused property and the potential employment opportunities of the casino-centric revitalization effort for the borough.
Earlier today, a state senate committee endorsed the recently proposed bill (pitched by State Sen. John Liu [D-Bayside]) that would permit the commercial utilization of Willets Point land classified as parkland. This legislation plays a pivotal role in the Metropolitan Park's future.
Smith's Legislative Progress
Should State Sen. John Liu's bill become law, Steve Cohen and Hard Rock International can officially submit an application for a downstate casino license before the June 27 submission date. With land use issues seemingly addressed, today's vote is a clear victory for Cohen and Hard Rock.
Speaking on behalf of the project, Karl Rickett, spokesperson for Metropolitan Park, said in a statement, "For decades, these 50 acres of asphalt have only been parking lots. Today's committee approval is a step closer to delivering 25 acres of actual public park space, 23,000 union jobs, new entertainment options, and over $1 billion in community benefits for Queens."
Referencing the illustrious landscape of legislative battles, Jessica Ramos (D-Queens) initially expressed reservation last month, citing concerns over parkland alienation. However, on April 2, Cohen and Hard Rock announced a partnership with Slate Property Group, LLC for a proposed 450-unit residential development nearby, potentially appealing to regulators and insiders alike.
The Race to Gain a Casino License
Assuming the best-case scenario, the Gaming Facility Location Board will submit recommendations to the New York State Gaming Commission by December as to which bidders should be granted the three coveted downstate casino permits.
Whispers abound that MGM Resorts International's Empire City Casino in Yonkers and Resorts World New York in Queens are frontrunners for two of the permits, leaving Cohen/Hard Rock and seven other bidders duking it out for the remaining slot. Given this tight competition and the significance of the Senate committee vote, the future of Metropolitan Park hangs heavily in the balance.
With Saks out of the picture and Las Vegas Sands searching for a partner to assume its Nassau Coliseum casino plan, the competition becomes less thick but equally fierce.
- The vote by a state Senate committee is a significant step forward for Steve Cohen's vision to develop the Metropolitan Park in Queens, NY.
- The Metropolitan Park project, estimated to cost $8 billion, is aimed at revitalizing an idle piece of land in Queens near Citi Field.
- The future of this land and the potential employment opportunities from the casino-centric revitalization effort are at stake.
- State Sen. John Liu's bill, if passed, will allow the commercial utilization of Willets Point land classified as parkland.
- If the bill becomes law, Cohen and Hard Rock International can submit an application for a downstate casino license before the June 27 submission date.
- The partnership between Steve Cohen and Hard Rock International and Slate Property Group, LLC for a residential development nearby could potentially appease regulators and insiders.
- The Gaming Facility Location Board is expected to submit recommendations to the New York State Gaming Commission by December for which bidders should be granted the three downstate casino permits.
- MetroPOLITAN Park could face tough competition, as MGM Resorts International's Empire City Casino in Yonkers and Resorts World New York in Queens are rumored to be frontrunners for two of the permits.
- Casino-and-gambling establishments, such as the Metropolitan Park and its competitors, could bring new real-estate developments, employment opportunities, and community benefits to the mid-Atlantic region.
- The future of commercial gaming in the mid-Atlantic, including the Metropolitan Park, is closely tied to political decisions and regional news.
- The Metropolitan Park project encompasses plans for a casino, hotel, and real-estate development, positioning it as a significant player in the gambling, sports, and entertainment industries.
- success in the race to gain a casino license could boost finance and investing opportunities not only for Cohen and Hard Rock International but also for the surrounding communities and cities like Las Vegas and major sports like football, baseball, hockey, golf, racing, horse-racing, and tennis.