Posted on: January 9, 2025, 09:03h.
Last updated on: January 9, 2025, 09:03h.
The Coney Casino & Resort in Brooklyn is enhancing its proposal to secure one of New York’s three remaining commercial gaming licenses for the downstate region.
Robert Cornegy, a former Democratic member of the New York City Council representing Brooklyn’s Bedford-Stuyvesant and northern Crown Heights neighborhoods, is spearheading the effort to bring a casino resort to Coney Island. Cornegy disclosed that if The Coney obtains a gaming license, the project developers will allocate $200 million to a community trust to benefit the area.
Coney Island is an amazing community, and this $200 million trust will enhance it for future generations. The trust will provide community grants, improve the Boardwalk, enhance safety and security, and upgrade public spaces in direct collaboration with the community and stakeholders,” Cornegy stated.
“The Coney will bring essential year-round jobs and economic growth to Coney Island, and if we secure this gaming license, the $200 million trust will further ensure that all of Coney Island benefits,” he added.
Project Details
The Coney is a $3 billion integrated resort casino concept from a partnership including the Chickasaw Nation’s Global Gaming Solutions, Saratoga Casino Holdings, Legends Hospitality Group, and Thor Equities. The project aims to develop five acres of prime land owned by Thor at Surf and Stillwell avenues in the heart of the city’s amusement district.
The plan features a 500-room hotel, a 2,500-seat theater, over a dozen dining establishments, 90K square feet of event space, and a high-quality gaming facility with slot machines, table games, and sports betting. Additionally, The Coney will offer a public roof space equivalent to the size of Bryant Park accessible from street level without passing through the casino.
The Coney is one of several bidders vying for New York’s three remaining casino licenses. Other expected contenders include MGM Resorts, Las Vegas Sands, Wynn Resorts, Caesars Entertainment, Hard Rock International, Bally’s, Mohegan, and Genting.
The New York Gaming Facility Location Board is anticipated to announce the winners in 2025.
Trust Fund Projects
If The Coney moves forward, the developers will create a $200 million trust for the Coney Island community. The allocation board will include “local voices and stakeholders” to oversee fund distribution.
In addition to the aforementioned potential uses, the funds will be earmarked for enhancing public safety and security, workforce development, environmental conservation, and public art.
The Coney’s $200 million commitment has garnered support from locals who believe the casino could reverse the economic downturn experienced by the seaside town in recent years.
“When I first learned about The Coney, I was intrigued. I liked the idea of a comprehensive entertainment and gaming destination that would attract tourists year-round while also providing improvements and job opportunities to my community. With news of a new trust — one that includes community involvement in fund allocation — I’m fully on board. The Coney will revitalize much of what Coney Island has lost, and I’m excited to see its success,” stated Julia Daniely, former president of the Carey Gardens Resident Association.