New York Mets owner Steve Cohen won approval to operate a casino next to Citi Field in Queens, one of three projects selected by the New York State Gaming Commission’s facility location board to receive downstate gambling licenses. Cohen, the hedge fund billionaire who submitted an $8 billion proposal with Hard Rock International, was chosen alongside Genting Group’s Resorts World and Bally’s Corp. Genting plans to expand its casino near Aqueduct racetrack in Queens, while Bally’s intends to open a gaming facility at a Bronx golf course previously developed by former President Donald Trump.
Board member Greg Reimers said the population within a two-hour radius would support steady visitation, further boosted by domestic and international travelers. He noted that each proposal demonstrated strong brand positioning, amenities, and facility design. The approvals move New York closer to completing a decade-long effort to award up to three lucrative casino licenses in the downstate region. Consultants project $7 billion in gaming tax revenue between 2027 and 2036, in addition to $1.5 billion in licensing fees and $5.9 billion in other taxes.
The board’s decisions prompted protests, with several attendees shouting “shame on you.” The gaming commission will now review the selected applications for compliance with licensing and environmental requirements, with licenses expected to be granted by year-end.
Cohen’s Metropolitan Park project will be built on the parking lot next to Citi Field and will include a casino, live entertainment venue, restaurants, shops, a hotel, and a convention center. Scheduled for completion in 2030, the project is expected to create 17,000 construction jobs and 6,000 permanent jobs. By its third year, it is projected to generate $3.9 billion in revenue and more than $850 million in taxes. Cohen has offered a 25% tax rate on slot revenue and 10% on table games.