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Jerome García February 9, 2024 3 min read
Mets’ Owner Steve Cohen Unveils $8bn Casino Plan for Citi Field Area
A new report reveals that the owner of the famous MLB franchise released details regarding a massive $8 billion project for the area, bringing parks and athletic fields
Considering the resounding success of mobile sports betting in New York, leading industry operators showed interest in securing one of the state’s three new downstate casino licenses. The fierce competition was joined by industry giants, including Wynn Resorts, Las Vegas Sands, MGM Resorts International and several other bidders. Overall, nearly a dozen bidders joined the race for a downstate license, acknowledging the exponential potential of such a victory.
Steve Cohen, the New York Mets’ owner, also joined the bidding for a downstate casino license in New York. Details regarding his intention to build a casino near Citi Field, his team’s home stadium, emerged last year. Upon announcing that he decided to join the race, Cohen said that the new casino is expected to deliver entertaining experiences for Mets fans before and after home games. He also did not rule out that such a venue can help propel interest in the area, attracting more visitors than before.
Now a new report reveals that the Mets owner is trying to spice things up for his casino license bid in New York. As announced by Spectrum News NY1, earlier this week, Cohen’s Point72 Asset Management presented a multi-billion-dollar plan for the development of the area near City Field. Besides the casino, Cohen reportedly plans to introduce significant improvements to the area, including five acres of athletic fields and 20 acres of park space using City Field’s parking lots.
Moreover, the ambitious plan seeks to create easy access to Willets Point station. Further improvements to the area include investments in senior and youth programs, as well as additional health care, legal and immigration services for the community in the area. Reportedly the project has a price tag of $8 billion.
The Casino Proposal Is Important for Communities in the Area
While undoubtedly, there are positive sides to the casino proposal, not everyone agrees. At a town hall meeting on Wednesday, New York Sen. Jessica Ramos spoke about the importance of the casino bid in the area for communities. “I still think not enough community members know about either proposal or that there is this possibility of a casino coming, and our community does deserve to know,” she explained.
Sen. Ramos is among the decision makers for the casino bid considering that she will be appointing one out of five members within a special community advisory committee that will vote for or against the proposed project.
Cohen became the owner of the Mets after a deal for a staggering $2.4 billion back in 2021. At the time, he purchased the famous MLB franchise from the Wilpon and Katz families ahead of the start of the MLB season.