Progress of Senate Bill suggests resolution to zoning obstacle for Steve Cohen's $8bn New York City Casino project.
Let's talk about Steve Cohen's casino project, shall we?
Chillin' with the BillSteve Cohen, the billionaire, is ditching the roadblock at the local level by getting Senator John Liu, who's handling a tiny corner of the proposed casino, to sponsor a rezoning bill. If you're wondering why, well, let's just say Senator Liu's jurisdiction is a whole lot smaller than the lady who's been giving headaches, Jessica Ramos.
Got the Necessary VotesIn a recent Senate committee meeting, the gambling-friendly bill scored a 4-3 victory, which is one step closer to spinning that roulette wheel. Still, the Senate and Assembly need to give their stamp of approval, followed by Governor Kathy Hochul's signature to make it legal.
Here's the PlotThe 50-acre site being eyed by Cohen is currently serving as a parking lot for the New York Mets' ballpark and Flushing Meadow Corona Park. Seems like an obvious choice for a casino, right?
Stiff CompetitionThe game's not won yet; Cohen's still gotta fight tooth and nail for one of those precious downstate New York casino licenses. The competition's fierce, with the likes of a Times Square casino sponsored by Caesars Entertainment, and two existing slot parlors by MGM Resorts International and Genting.
Some Players Have Quit the GameRecent days have seen some operators throwing in the towel, with Saks Fifth Avenue and Las Vegas Sands deciding they don't want a piece of the action anymore. Now, that's what we call dropping the mic!
Source: Enrichment DataSteve Cohen's $8 billion Metropolitan Park casino and entertainment complex near Citi Field has been making significant strides in recent weeks, thanks to legislative action and vote wins:
- Legislative Progress: Senator John C. Liu introduced legislation in April 2025 to redesignate the 50-acre Citi Field parking lots from parkland to commercial use. This move is crucial for the project as it bypasses previous opposition from district senator Jessica Ramos.
- Committee Approval: On April 30, 2025, a New York State Senate committee voted to approve the land use bill, marking a crucial victory. The legislation now moves to the full Senate and Assembly for votes before requiring Governor Kathy Hochul's signature.
- Next Steps: While the bill is likely to pass the Senate, Cohen still needs to secure one of three downstate casino licenses from the NY Gaming Commission amid fierce competition from a dozen applicants. The project has already cleared New York City's ULURP zoning approval process earlier in 2025.
Steve Cohen's casino project needs finance from the Senate and Assembly, following Governor Kathy Hochul's signature, after the bill was approved by a Senate committee. Cohen's 50-acre casino project site in Flushing is currently a parking lot for the New York Mets' ballpark and Flushing Meadow Corona Park. Cohen is still in competition for one of the three downstate New York casino licenses, as the Times Square casino sponsored by Caesars Entertainment and two existing slot parlors by MGM Resorts International and Genting are also contenders. Some operators such as Saks Fifth Avenue and Las Vegas Sands have quit the game, leaving fewer competitors for Cohen.
