Cohens casino gets City Council approval

The company aims to create a Monte Carlo-style casino that will attract wealthy tourists from around the world. The Saks Fifth Avenue proposal also calls for transforming an existing building. SL Green Realty, Caesars Entertainment, and Jay-Z have put together the proposal. Their role is to gauge the interest of the community and make a recommendation.

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Cohen’s casino gets City Council approval

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In November, all five of the community boards charged with reviewing the plan voted in favor of Cohen’s casino. Still, The Coney project has had a difficult time winning over local residents. In January, local Community Board 13 recommended denial of the application, with residents skeptical that Thor Equities would come through with its promises of $200 million in community investment. On Wednesday, Bally’s Corporation announced a community benefits agreement for the project that pledges to provide more than $200 million in community investment. The gaming giant says the Bronx casino will also provide 15,000 construction jobs and more than 4,000 permanent jobs for local residents.

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If you feel like you are at risk, don’t hesitate to talk to a professional. Resorts World is seen as a top contender for one of the three licenses largely because it’s already in operation as a racino and has a history of being a good neighbor in the borough, according to a number of elected officials. The City Council on Wednesday approved New York Mets owner Steve Cohen’s plan to bring a casino to Citi Field. The proposal seeks to revitalize the area by placing a casino by the famed Coney Island boardwalk near the Wonder Wheel. Thor Equities, a real estate investment firm, is partnering with Saratoga Casino Holdings and the Chickasaw Nation to build a casino in Coney Island.

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The approval grants Cohen and his partner in the project, Hard Rock International, the right to make several zoning changes to the site, which currently houses Citi Field’s parking lot. While the zoning changes are needed in order for Cohen’s plans to move forward, Metropolitan Park will still need several other approvals, both from local and state officials, before the project truly will be granted the green light. The Empire City Casino, which is 15 miles from Times Square, has attributes similar to those of Resorts World and operates thousands of slot machines.

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