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Attendees of Wednesday’s groundbreaking were optimistic about the project’s potential positive impact. 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. Thor Equities, a real estate investment firm, is partnering with Saratoga Casino Holdings and the Chickasaw Nation to build a casino in Coney Island. The company struck a deal with the Trump Organization to take 17 acres of the 300-acre property that adorns the Trump name.

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Licenses will be good for a minimum of 10 years and a maximum of 30 years. Without question, the three winning bids will have the potential to reshape the socioeconomic landscape of the New York City metro area. Wednesday’s vote marked the first time the City Council had voted on one of the several casino proposals that will require land use approvals.

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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. The developers, however, must first win the support of the local community where their plan is proposed.

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The three Manhattan casino proposals, meanwhile, are filled with the kind of glitz and glamor that captures the imagination and may prove to be offers too good for the state to refuse. Resorts World’s expansion plan includes the creation of a new 50-acre park on the Aqueduct Racetrack site, as well as a 7,000 sq. Their role is to gauge the interest of the community and make a recommendation. At least four of the six committee members must approve of the plan for it to move forward. Ten high rollers continue to vie for three lucrative full casino licenses in downstate New York in a years-long race that evolved from a sprint to a marathon. Republican City Councilmember Vickie Paladino also voted against the rezoning, and Queens City Councilmember Tiffany Cabán abstained from voting on the plan.

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