Cohen’s Royal Flush: Mets Owner’s $8B Queens Casino Bid Clears Critical Hurdle
Senate Bill S7121a Was Approved by the Cities 1 Committee After a 4-3 Vote
Good Casino News for Cohen
Steve Cohen just won another hand in his quest to turn Citi Field’s parking lots into New York’s biggest casino. The billionaire Mets owner watched as Tuesday’s 4-3 committee vote brought his $8 billion casino project one step closer to reality.
This casino news is big for New York’s gambling scene. The committee, led by State Senator John Liu, voted to reclassify 50 acres of technical parkland for commercial use.
Why does this matter? Well, this is exactly what Cohen needs to keep his Metropolitan Park project alive.
Parking Lot Power Play
The parkland has always been the biggest hurdle in Cohen’s plan for a betting casino in New York City. Despite being asphalt for decades, the land around Citi Field is technically parkland, so it requires special “parkland alienation” legislation to allow non-park uses.
In this game, Senator Liu has taken center stage. A few weeks ago, he introduced Senate Bill S7121a despite Queens Senator Jessica Ramos’s opposition to the project. While Liu’s district only has about 12 acres of the proposed site, he recognized the regional impact.
Steve Cohen wants to build an $8 billion entertainment district around Citi Field — complete with public parks, bars, restaurants, a hotel, a casino, and a sportsbook.
Cohen still needs state & city approval (+ a casino license), but the entire project would be privately funded. pic.twitter.com/Dszspgl8ab
— Joe Pompliano (@JoePompliano) February 14, 2025
“The size and magnitude of what’s being proposed will clearly have very strong impacts on my district,” Liu stated recently, showing why gambling regulations matter so much in major development projects.
Ramos, whose district contains most of the proposed site, previously cited constituent opposition to “the construction of a casino in their backyard.”
However, she recently acknowledged her limitations, telling the New York Post, “I don’t know if I have the power to block that legislation.”
Metropolitan Park’s Community Jackpot
The partnership between Cohen and Hard Rock International is a big deal.
Their $8 billion plan is one of the biggest private investments in Queens history and could turn parking lots into one of the biggest cash casinos in the US.
The project will also deliver what developers call a “win” for the community:
- 25 acres of public park space where there are currently concrete parking lots.
- 23,000 union construction jobs with local hiring.
- A benefits package valued over $1 billion.
- 450+ affordable housing units in Corona, 2 miles from the site.
Cohen’s project also just got a 41-2 vote from the NYC Council for zoning changes, reminding some of his estimated $2 million ante in lobbying efforts.
New York’s Casino License Showdown
Cohen’s legislative win is just one piece of the puzzle. As this legislation moves forward, Metropolitan Park finds itself in a crowded field for one of the three downstate casino licenses, each with a $500 million fee.
The New York State Gaming Commission says applications are due by June 27, with decisions expected, at the latest, by December 31, 2025. Industry analysts think two licenses will go to existing racino operators (Resorts World NYC in Queens and MGM’s Empire City in Yonkers), leaving about a dozen competitors for the last spot.
However, the field did get smaller this week when Las Vegas Sands dropped its $6 billion Nassau Coliseum proposal, citing construction costs and online casino competition in the near future.
Meanwhile, Bally’s $4 billion Bronx proposal recently got more attractive with local ownership stakes starting at $100.
Bally’s Bronx is redefining the public golf experience! Our vision for a world-class golf and entertainment destination is taking shape, bringing luxury, excitement, and innovation to the community.
Stay tuned for more updates as we transform the future of golf in NYC! pic.twitter.com/po6mafyZp4
— Bally’s Bronx (@BallysBronx) February 19, 2025
What’s Left?
Can Cohen’s project happen in all this uncertainty? Only time will tell. For him to win this battle, he still needs the parkland bill to pass the Senate and Assembly. Then he needs Governor Hochul to sign it. The legislation will likely need a “super majority” because of the parkland conversion.
A six-member Community Advisory Committee will then need to approve the project by a 2/3 majority before the Gaming Facility Location Board evaluates the application. What seemed like a long shot after Ramos’s initial opposition now looks more plausible.
The question is, will Cohen’s maneuvering be enough to get one of New York’s most coveted casino assets by the end of the year?
The odds are looking up, but in New York’s high-stakes casino game, anything can happen.
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