Cohen’s $8B Casino Bid Near Citi Field Gains Ground Amid Waning Competition

Mets owner Steve Cohen‘s bold $8 billion plan to construct a casino and entertainment complex adjacent to Citi Field has made significant progress securing crucial backing in the New York State Senate. The project named “Metropolitan Park,” is now picking up steam just as rival bids in the New York City casino race begin to lose ground.

Metropolitan Park Project Clears Key Hurdle with Senate Support

On May 20, Senate Deputy Majority Leader Michael Gianaris backed a bill to change the proposed site from parkland to commercial use, reported the New York Post. This legal step needs to happen before Cohen and his partner, Hard Rock International, can put in a bid for one of three downstate casino licenses. The State Assembly passed a similar bill last week.

Gianaris, who represents parts of western Queens, made it clear that his support does not mean he approves of the casino project. He just wants to allow the proposal to compete with others. He said talks among Senate Democrats were helpful, but did not make it clear if the bill has enough support to go to a vote.

At the same time, State Senator Jessica Ramos, who represents the area around the proposed site, repeated her opposition. She told other lawmakers she had reached out through town halls, polls, and surveys, and discovered most of her constituents opposed the plan. As a result, she promised to vote against the bill if it comes to the Senate floor.

Legislative Backing and Competitor Withdrawals Boost Cohen’s Casino Odds

Even so, backing is increasing in other parts of Queens. State Senator John Liu, whose district covers a small section of the proposed development area, introduced the Senate bill and showed confidence in the project’s possible advantages. Liu said many residents in his area feel hopeful about the economic chances the project might create.

The timing of this legislative progress seems to work in Cohen’s favor. Just a day before, Wynn Resorts gave up its bid for a Manhattan casino, pointing to strong local opposition. This follows similar moves by other developers such as Las Vegas Sands, leaving fewer rivals competing for the sought-after licenses.

Additionally, local leaders in Yonkers, including Mayor Mike Spano, are pushing the state to give full casino licenses to existing racinos like Empire City and Resorts World. This puts more pressure on the state to take action quickly.

The New York State Gaming Commission plans to give out up to three licenses by the end of 2025. Each winner will need to pay $500 million to get a license. As fewer projects are in the running, Cohen’s Metropolitan Park idea might have a better chance than ever to become a reality.