The $8 billion casino dreams of Mets owner Steve Cohen and his partners are coming true.
The facility location board of the New York State Gaming Commission on Monday formally and unanimously recommended the license approval of Metropolitan Park, the casino complex Cohen is aiming to build adjacent to Citi Field, in partnership with Hard Rock International.
The final approval decision will lie with the full gaming commission, and that decision will be rendered later this month. The facility location board’s recommendations, however, hold significant sway, and deviations from that are not expected.
In addition to Metropolitan Park, the facility location board unanimously recommended that downstate gaming licenses be granted to Bally’s, which plans a $4 billion resort complex at Ferry Point in the Bronx, and to Resorts World New York City, which proposes to build at the site of the Aqueduct Racetrack in Queens. The trio comprised the final three candidates for the coveted downstate gaming licenses after a series of other competing proposals dropped out during earlier stages of a lengthy review process.
“The board has determined that awarding all three licenses best advances the state’s long-term economic, fiscal, and community objectives,” said board chair Vicki Been.
Each of the three bidders, once fully approved, will need to pay an upfront licensing fee of $500 million, commit to another $500 million in capital improvements, and pay annual taxes on the gaming revenue.
Those recommendations were not without some controversy, however. The public disclosure of the facility location board’s findings was immediately greeted with loud “Shame on you!” chants from opponents of expanding the state’s casino presence.
The expansion of casino gambling in the state, however, is expected to become a significant revenue generator, and those economic and job development considerations won out over concerns regarding potential spikes in crime and community degradation.
Big Vision
For Metropolitan Park, the recommended approval is also aimed at elevating an underdeveloped area marked by surface parking lots and car repair shops. The project is targeted to include a hotel and casino, 25 acres of green space, playgrounds, a 5,000-seat indoor music venue, a rebuilt transit hub, and a locally inspired food hall, among other amenities.
“After years of community engagement and support, Metropolitan Park is one step closer to becoming a reality,” said project spokesman Karl Rickett. “Following a fair, transparent, and rigorous process, the Gaming Facility Location Board has validated the positive economic impact this project will have.”
Most recently, Cohen, Hard Rock, and the city of New York resolved a dispute with the neighboring U.S. Tennis Association, in part by further codifying existing protections for that organization and the US Open.
Metropolitan Park is slated to open in June 2030, with construction beginning next month. It will follow recent upgrades to Citi Field and the Billie Jean King National Tennis Center, as well as the ongoing construction of Etihad Park, the forthcoming home of Major League Soccer’s NYCFC.
