Steve Cohen’s casino proposal advances to final round of competition

Billionaire hedge fund manager Steve Cohen's proposal for an $8 billion casino complex, known as Metropolitan Park, has cleared a major hurdle in the state's casino licensing competition. The project, which aims to transform 50 acres of parking lots next to Citi Field in Queens, received unanimous approval from the community advisory committee.

The approval from the committee means that Metropolitan Park will now move on to the final consideration stage by the state's Gaming Facility Location Board. The board is expected to select up to three projects by the end of the year for state casino licenses.

Metropolitan Park will face tough competition in this final round, as it is up against three other contenders including MGM Empire City in Yonkers. However, the proposal has already gained significant support from local community leaders and politicians, including Queens Borough President Donovan Richards and City Council member Francisco Moya.

"This project has the potential to create thousands of jobs and generate billions of dollars in economic activity for the surrounding community," said Richards in a statement.

The proposal has also faced some controversy, with concerns raised about the potential negative impacts on the surrounding area, including increased traffic and the displacement of small businesses. However, with the backing of influential figures like Richards and Moya, it seems that Metropolitan Park is well positioned to secure one of the coveted state casino licenses.

Originally reported by The Real Deal.

https://therealdeal.com/new-york/2025/09/30/community-advisory-committee-approves-steve-cohen-casino/