Steve Cohen’s $8B Casino Gains Momentum Despite Mets Setback

New York iconWhile the New York Mets may have stumbled on the field, their billionaire owner, Steve Cohen, is scoring big off it.

Cohen’s ambitious $8 billion proposal to build a casino and entertainment district near Citi Field has just received a significant boost, a vote of confidence from a key advisory board. The plan, dubbed “Metropolitan Park,” aims to transform the surrounding area into a vibrant hub featuring casino gaming, dining, retail, and cultural attractions.

The approval doesn’t guarantee construction will begin, but it marks a significant step forward in a competitive race for one of New York’s coveted downstate casino licenses. Other contenders include Bally’s Bronx, Resorts World New York (Queens), and MGM Empire City (Yonkers).

Cohen’s pitch emphasizes community revitalization, job creation, and economic growth, positioning the project as more than just a gambling venue; it’s a vision for a new urban destination.

Metropolitan Park Proposal

If approved, the proposed Metropolitan Park project near Citi Field would become one of the most significant entertainment developments in New York City history. Spearheaded by Mets owner Steve Cohen in partnership with Hard Rock International, the plan includes nearly 300,000 square feet dedicated to gaming, featuring 5,000 slot machines and 375 table games.

The proposal also includes a luxury hotel, a state-of-the-art convention center, multiple restaurants, an expansive entertainment venue, and a concert hall designed to attract top-tier performers. Together, these elements aim to transform the area into a year-round destination for both locals and tourists.

Online Gambling in New York

While Cohen’s casino dreams focus on physical infrastructure, New York’s online gambling landscape is also evolving. Since legalizing mobile sports betting in 2022, the state has experienced explosive growth in online wagering, with platforms such as FanDuel, DraftKings, and Caesars reporting billions in handle.

However, state-licensed casinos are currently prohibited from offering online casino games, such as virtual poker, blackjack, and slots, under current law. For now, only offshore casinos accept NY players online, but the state has also taken steps to prevent those operators from accessing their player pool.