Steve Cohen Announces Ambitious $8 Billion Casino Development Near Citi Field

Leading industry operators are vying for one of New York’s three new downstate casino licenses following the success of mobile sports betting in the state. Giants such as Wynn Resorts, Las Vegas Sands, MGM Resorts International, and other bidders have entered the competition, recognizing the potential for exponential growth in this market.

New York Mets owner, Steve Cohen, has also joined the race, intending to build a casino near the team’s home stadium, Citi Field. Cohen envisions the casino as a venue that will provide entertaining experiences for fans before and after games while also attracting more visitors to the area.

Recently, Spectrum News NY1 reported that Cohen’s Point72 Asset Management has presented a multi-billion-dollar plan for the development of the area near Citi Field. The plan includes a casino, five acres of athletic fields, 20 acres of park space utilizing parking lots, and easy access to Willets Point station. Additionally, Cohen plans to invest in senior and youth programs, as well as provide health care, legal, and immigration services for the community in the area, with a total price tag of $8 billion.

However, not everyone is on board with the casino proposal. New York Sen. Jessica Ramos highlighted the importance of community involvement in the decision-making process, emphasizing the need for community members to be informed about the possibility of a casino in their area. Sen. Ramos will appoint a member within a special community advisory committee that will vote for or against the proposed project.

Cohen’s acquisition of the Mets, for a staggering $2.4 billion in 2021, has positioned him as a key player in the bid for the downstate casino license. The potential development of the casino near Citi Field is a major interest for both industry operators and community members, setting the stage for an impactful and potentially transformative project.