Billionaire Steve Cohen’s $8 billion casino proposal, Metropolitan Park, has advanced to the final stage in New York State’s competition for new casino licenses. The project received unanimous approval from a community advisory committee, moving it forward to the state’s Gaming Facility Location Board. This board is expected to select up to three projects by the end of the year.
The proposed Metropolitan Park would redevelop 50 acres of parking lots next to Citi Field. It includes plans for a Hard Rock hotel, a live music venue with capacity for 5,650 people, various bars and restaurants, and 25 acres of green space.
George Dixon, a member of the community advisory committee who was appointed by Senator Jessica Ramos — previously an opponent of the project — voted in favor. Dixon clarified that his vote did not signal a change in Ramos’ position but reflected his own assessment that “the project would be good for the borough.”
Metropolitan Park is now competing against three other finalists: MGM Empire City in Yonkers; Queens Aqueduct Casino operated by Resorts World; and Bally’s in Throggs Neck. Four other proposals were eliminated earlier by their respective committees.
Cohen’s plan faced significant hurdles before reaching this stage because the Citi Field parking lot is officially designated as parkland. Approval from state lawmakers was needed through park alienation legislation. Senator Ramos declined to introduce such legislation, but Senator John Liu stepped in as sponsor, enabling progress after legislative approval in May.
The team behind Metropolitan Park has stated that if granted a license this December, construction could begin as soon as January. As part of its bid, they have committed to building Flushing Skypark—elevated bike and pedestrian paths connecting several neighborhoods—or providing $100 million for improvements at Flushing Meadows Corona Park if Skypark does not proceed.
Additionally, Slate Property Group has partnered with Cohen’s team to develop 450 affordable housing units at another site nearby.
Industry observers believe MGM and Resorts World are likely candidates for two of the three available downstate casino licenses due to their existing operations as racinos. That leaves Bally’s and Metropolitan Park vying for the third license. Cohen’s proposal is larger than Bally’s and is projected to generate $850 million in tax revenue by its third year—substantially more than Bally’s estimated $357 million annually.
The state board will focus on economic impact factors such as tax revenue projections, investment size, and job creation when making its decision.
