Cohens casino gets City Council approval

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Their plans are not merely visions of roulette wheels and crowded craps tables; they include major public investments — skyscrapers, public parks, retail and gaming opportunities, hotels, and even affordable housing. Game restrictions let players know that bonuses or free spins are only valid for featured games. Deposit match limits are the minimum and maximum a casino will match players.

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The license would merely be an expansion with new restaurants and entertainment facilities, and not a project that has to be built from the ground up. Resorts World, which opened in 2011 and has 6,500 slots and electronic table games, would be able to build out the facility to include live dealers at table games with relative ease. Each project is to be reviewed by a local group — known as a Community Advisory Committee — which must sign off on it. Each committee consists of six people, with the governor, mayor, the local state senator, local state assembly member, the borough president and the local city council member each appointing a representative. Bids were submitted back in 2023 after state lawmakers approved the opening of three downstate casinos, each of which would feature full gaming tables for roulette, blackjack, poker, and other high-stakes action.

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The Times Square plan involves redeveloping 1515 Broadway, an office skyscraper in the heart of Times Square by West 44th Street that has an existing Broadway theater located on the ground floor. The casino would be housed in the building, which would also include a hotel and restaurants. The applicants must also meet all environmental and zoning requirements before the Gaming Facility Location Board reviews their plans. It is anticipated a final decision on the three licenses will come at the end of 2025.

Their proposal would feature a towering glass building overlooking the amusement park in the heart of the waterfront community. The structure, dubbed “The Coney”, would feature a new hotel just steps from the iconic boardwalk. Bally’s, a large gaming company that operates in Atlantic City, is looking to develop a casino at Trump Golf Links in Throggs Neck. Cohen has held meetings, including two visioning sessions, with the public to solicit feedback as to what to incorporate in his plans. The Midtown East proposal, which would also involve the construction of a new development, is led by real estate billionaire Stefan Soloviev and the Mohegan Tribe.

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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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