$3 Billion Coney Island Resort Casino Sparks New York City Transformation


Nestled in the iconic corner of southwestern Brooklyn, imminent plans to transform the face of New York City have been revealed. The latest grand vision from The Coney – a high-profile consortium featuring Saratoga Casino Holdings, Chickasaw Nation’s Global Gaming Solutions, Legends Hospitality Group and Thor Equities – aims to bring an extensive $3 billion integrated resort casino to Coney Island.

The blueprint lays out a vision of opulence, with plans to transform five acres of land at the junction of Surf and Stillwell avenues. The development map showcases an impressive 500-room hotel, a concert venue capable of seating 2,500 souls, more than a dozen restaurants and bars, along with a sprawling 90,000 square feet area specifically dedicated to meeting spaces. Yet, the cherry on top remains a world-class gaming facility.

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Moreover, the grand unveiling also underscored a generous commitment to the local community. Promising to equip a distinct section of the resort for local businesses, the developers also pledged to provide jobs for thousands of individuals, with a preference granted to the area’s domiciles. In a bid to harmonize with the local community, The Coney resort also intends to open more than an acre of publicly accessible space near the renowned Boardwalk.

“For two years, we have engaged in a thorough dialogue with the people of Coney Island and Southern Brooklyn. The discussions have consistently revolved around the core needs of this community: a project that establishes long-term careers, reinvigorates local businesses, and pushes for a year-round entertainment hub that allows everyone seamless access,” said Sam Gerrity, CEO of Saratoga Casino Holdings.

He further emphasized the objective of this monumental project, saying, “The Coney is designed to serve as an economic support system, one that enhances the infrastructure at one of the densest sections of our community.”

The Coney is not venturing into this endeavor alone. As it stands, it is one of several contenders in the race for the three coveted gaming licenses set aside for the downstate region. A decision to that effect is expected from the New York Gaming Facility Location Board next year. Each of these definitive gaming licenses carries with it a hefty half a billion-dollar fee.

There are already signs that the competition is heating up with a total of 10 different bids being prepped for submission. The likely contenders for this ambitious project include industry heavyweights like Caesars Entertainment, Wynn Resorts, Hard Rock International, Las Vegas Sands, and Bally’s.

Despite hundreds of millions in potential earnings, there remains a section of the grand plan that seems to have been glossed over. The Coney’s casino blueprint is remarkably vague with the consortium focusing on the project’s socioeconomic impact more than diving into the details of what the keep sake casino would entail.

However, in a strategic move to position themselves favorably, the consortium has collected signatures of support from over 10,000 local residents. This well-received community backing further bolsters The Coney’s claim, “Our project will create a year-round economic engine, delivering thousands of jobs for the local people and eliminating the capricious nature of seasonal business that has been a perennial challenge for the local community.”