The New York Coney Casino reveal plans for a $3 billion building project in Brooklyn.
The Coney has revealed the details of a $3 billion integrated resort casino they plan to construct in New York City, specifically in southwestern Brooklyn. This project is a collaboration between Saratoga Casino Holdings, Global Gaming Solutions from the Chickasaw Nation, Legends Hospitality Group, and Thor Equities. They have chosen a five-acre piece of land at Coney Island's Surf and Stillwell avenues for this development.
The proposed resort includes a 500-room hotel, a 2,500-seat concert venue, numerous restaurants and bars, 90,000 square feet of meeting spaces, and a "world-class gaming facility." In addition, two acres of publicly accessible open space will be featured along the popular Boardwalk.
The developers have promised to include "dedicated locations" within the resort for locally-owned businesses and hire "thousands" of people, prioritizing hiring local residents. This project has been in the works for two years, during which they have sought the opinions of Coney Island and Southern Brooklyn residents.
Sam Gerrity, CEO of Saratoga Casino Holdings, shared insights on why they believe this project is suitable: "We have been discussing with Coney Island and Southern Brooklyn residents for two years about the necessity of a project that creates employment opportunities, helps local businesses, and centers entertainment around an accessible 'playground.' We've heard it time and time again that Coney Island needs a project that provides consistent economic support and enhances the infrastructure in a busy area."
The Coney Resort aims to fulfill these requirements. It's worth noting that it's one of ten bids competing for three gaming licenses soon to be issued by the New York Gaming Facility Location Board. Some other contenders include Caesars Entertainment, Wynn Resorts, Hard Rock International, Las Vegas Sands, and Bally's. The selection process will occur next year, and the board has emphasized that each proposal's predicted "economic activity and business development" impact will play a crucial role in determining the winning bids.
Despite the focus on economic and livability benefits, the casino component itself doesn't receive much attention in the Coney's blueprint. The release mentions securing the support of over 10,000 area residents through signature-gathering efforts.
Gerrity believes this emphasis on economic benefits may benefit their bid: "The Coney will serve as a year-round economic force, generating jobs for local residents and eliminating the seasonal fluctuations that have long affected the local business community." In addition, he alludes to the project's appealing location, with iconic rides like the Cyclone roller coaster and Wonder Wheel Ferris wheel nearby.
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Source: www.casino.org
