After years of planning, heavy lobbying efforts, and countless public hearings, the downstate New York casino competition has narrowed to four contenders as it enters its final stage.
On Tuesday, Metropolitan Park — an $8 billion mixed-use casino and entertainment complex proposed next to Citi Field in Queens — won unanimous approval (6-0) from its Community Advisory Committee (CAC). The project is a partnership between New York Mets owner Steve Cohen and Hard Rock Entertainment.
Metropolitan Park now joins three other locally approved bids: Resorts World NYC, MGM Empire City, and Bally’s Bronx. These four proposals will compete for just three downstate casino licenses, which the New York State Gaming Commission is expected to award by the end of the year.
The next step lies with the Gaming Facility Location Board (GFLB), which will review the applications and forward recommendations to the commission. The board will weigh factors such as revenue projections and proposed tax rates, with bidders allowed to suggest their own terms — provided they meet the state’s minimum thresholds of 25% on slot revenue and 10% on other gaming activities.
In addition, the GFLB will evaluate bids across four other weighted categories.
- Economic activity (70%)
- Local impact siting (10%)
- Workforce enhancement (10%)
- Diversity (10%)
The Gaming Facility Location Board is expected to forward its licensing recommendations to the New York State Gaming Commission by December 1. Final decisions on the three available downstate licenses are scheduled for December 31.
If all three licenses are awarded, the state would immediately collect $1.5 billion in licensing fees. Still, industry observers caution that New York regulators are known for surprises — a reminder of the unpredictable twists seen during the upstate licensing process a decade ago.
A lobbying force to be reckoned with
The strong approval for Metropolitan Park came as little surprise, as the project had been viewed as a frontrunner from the outset, thanks in large part to Steve Cohen’s deep pockets and political influence.
According to Forbes, Cohen has a net worth of $23 billion, making him the 101st richest individual globally. Both he and his hedge fund, Point72 Asset Management, have been major donors to Governor Kathy Hochul and the Democratic Party.
The project initially faced resistance from Senator Jessica Ramos, whose district covers much of the proposed site. Ramos refused to sponsor the rezoning bill needed for progress, effectively stalling the bid. Cohen and his team later secured support from Senator John Liu, who agreed to advance the legislation.
Before Liu’s involvement, Assembly member Larinda Hooks also played a pivotal role, shepherding the bill through her chamber. Hooks, who appointed herself to the Community Advisory Committee (CAC) for Metropolitan Park, served as chair and cast the decisive sixth vote in Tuesday’s unanimous approval.
Hooks also presided over the public hearings for the project, keeping proceedings tightly controlled. She was quick to quiet disruptions and even cut short the second hearing after presenters began shouting at the panel.
“We have a process,” Hooks told the Queens Eagle afterward. “It’s always the person on the losing end who says they weren’t heard, but the same process applies to everyone. It was fair on both sides. The process worked.”
Metropolitan Park up, Mets team down
Metropolitan Park is designed after the “walkable villages” now featured at ballparks across the U.S., such as Atlanta’s Battery district and the Arlington Entertainment District in Texas. Since purchasing the Mets in 2020, Steve Cohen has invested heavily in players, but he says this mixed-use project is his long-term plan to transform the Citi Field experience.
The proposal includes a Hard Rock hotel, casino, and entertainment venue, along with 25 acres of new park space and additional amenities. Currently, the 50 acres surrounding Citi Field remain largely asphalt parking lots.
While the project advances, the Mets’ season has ended in disappointment. Once ranked fifth in World Series odds and boasting the best record in baseball in June, the team’s performance collapsed in the second half, ultimately missing the playoffs. Cohen called the outcome “unacceptable” in a post on X.
Assessing licence outcomes and impacts
The four casino bids moving forward consist of two existing venues and two new-build projects. Resorts World New York City (formerly Aqueduct) and MGM Empire City in Yonkers have long operated as video lottery terminal (VLT) facilities, making them frontrunners in the competition.
Both carry a key advantage: speed to market. Resorts World is targeting a July 2026 casino debut, while MGM has proposed a July 2027 launch. By contrast, Metropolitan Park does not anticipate opening until June 2030, and Bally’s has yet to disclose its construction timeline, with details redacted from filings.
Resorts World and MGM already contribute heavily to state revenue through their existing 55% VLT tax rates, generating hundreds of millions annually. Their deep community ties also strengthen their positions. As a result, many analysts expect the race for the third license to come down to Cohen’s Metropolitan Park bid and Bally’s Bronx proposal.
Cohen’s primary obstacle may be location. Resorts World is also based in Queens, less than 10 miles from Citi Field. With Manhattan and Brooklyn eliminated from consideration, awarding two of three licenses within such close proximity could risk cannibalizing business for both properties.
Bally’s, on the other hand, faces mounting financial concerns. The company is struggling to stay on track with its $1.7 billion Chicago casino, which is due by September 2026, less than half the projected $4 billion price tag for Bally’s Bronx. At the same time, Bally’s has unveiled plans for a new Las Vegas casino-resort, but without disclosing costs or timelines, raising further doubts about its capacity to deliver.
