Published on: December 2, 2025, 11:42 AM.
Updated on: December 2, 2025, 11:42 AM.
- Step aside, Kevin James; Steve Cohen is now the true “King of Queens”
- Cohen, in collaboration with Hard Rock, secures a casino development project at Willets Point
Steve Cohen is known for his tenacity. This week, the billionaire’s ambitious $8 billion plan to transform Willets Point received a positive recommendation from the New York Gaming Facility Location Board.
Forbes estimates Cohen’s wealth at approximately $23 billion. Just over a decade ago, his hedge fund, SAC Capital Advisors, settled an insider trading case with the SEC for $1.8 billion.
Despite the guilty plea from SAC Capital, Cohen himself avoided any criminal charges, even though his initials, S.A.C., were synonymous with the firm.
Cohen restructured SAC Capital into Point72 Asset Management, now managing around $41.5 billion in assets. His influence stretches into Queens, where he purchased the New York Mets and Citi Field in 2020.
Cohen’s ownership has been positively received in New York as he invests significantly in recruiting high-profile players like Francisco Lindor and acquiring Juan Soto from the rival Yankees. He is now dedicated to transforming a part of this vibrant working-class borough into a luxurious resort destination, featuring one of the largest casinos in the nation.
The King of Queens
In partnership with Hard Rock International, Cohen plans to revitalize the 78-acre parking lot adjacent to Citi Field into an integrated resort casino, offering numerous community benefits. Dubbed Metropolitan Park, the proposal is projected to generate 17,100 construction jobs and over 6,000 permanent jobs.
Metropolitan Park anticipates providing $33.5 billion in tax revenue over three decades, with an annual economic impact of approximately $6.6 billion. Cohen has stated that hiring preferences will be extended to residents of Queens County.
Since acquiring the New York Mets in 2020, Steve Cohen has shown unwavering dedication to enhancing both the Mets and the community surrounding Citi Field. He and his team have been actively engaging with the local Queens community for years to assess how the site can be developed to address the needs of nearby residents. The realization that an integrated resort would unlock the site’s potential led Cohen to seek a suitable partner. After a thorough evaluation of the foremost U.S. gaming operators, Hard Rock was chosen for two main reasons,” as noted in the Metropolitan Park Executive Summary.
If the casino project comes to fruition, Cohen will become one of the largest employers in Queens, earning himself the title of the “King of Queens.”
Along with job creation and tax revenue, Cohen’s vision includes 25 acres of public green space and an upgraded Mets-Willets Point train station that will service both the MTA Long Island Rail Road and Subway. Additionally, Metropolitan Park plans to incorporate 450 affordable housing units in the Corona neighborhood.
The New York State Gaming Commission is likely to approve a casino license for Metropolitan Park by the end of this year, paving the way for the project to advance.
Philanthropic Contributions
Since his arrival in Queens through the Mets acquisition, Cohen and his wife, Alexandra, have donated tens of millions to community initiatives.
During the COVID-19 crisis, Cohen contributed nearly $20 million to aid small businesses, along with a $5 million donation to The Child Center of New York and a record $116.2 million to LaGuardia Community College.
Cohen’s ongoing generosity has earned him the affectionate nickname, “Uncle Steve.”