A rendering of the proposed $3 billion casino project called The Coney. The development recently gained support from a Community Board in New York City. (Image: The Coney Casino & Resort)<\/figcaption><\/figure>\nAs for congestion worries, Pippen and Gerrity said they’d work with the MTA upon receipt of a gaming license to establish express subway service and expand ferry routes to and from Coney Island.<\/p>\n
As for jobs, the executives said Coney Island residents would be sought to fulfill many of the expected 4,000 positions coming to the People’s Playground.<\/p>\n
Bidding Process<\/b><\/h2>\n There are expected to be around 10 bids for the three licenses. Many observers believe two of the licenses are already spoken for, as MGM Resorts’ Empire City Casino in Yonkers and Genting’s Resorts World NYC in Queens are considered front-runners. Both racinos currently offer video lottery terminals-<\/p>\n
However, it’s not set in stone that the racinos will gain full-scale casino licenses that will permit Las Vegas-style slots, table games, and sports betting.<\/p>\n
The bidders await the Gaming Facility Location Board’s responses to the agency’s second round of questions. Once the board issues its responses, qualifying bids will have 30 days to formally submit their casino applications.<\/strong><\/p>\nAt the same time, each bid the Gaming Facility Location Board deems qualified will begin having its six-person community advisory committee (CAC) formed, seats that state and local government officials appoint.<\/p>\n
Each CAC will work with the casino developer to finalize the bid. CACs that ultimately vote against the project will be dismissed.<\/p>\n
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In New York Gov. Kathy Hochul’s (D) fiscal year 2025 budget plan, the governor expects the state to receive $1.5 billion from issuing the three downstate gaming licenses in 2024. She forecasts gaming tax revenue to surge between $231 million and $413 million a year once the three casinos are up and running, though those monies likely won’t be realized for several years.<\/p>\n<\/div>\n
If Empire City and Resorts World are two of the winners, the increased tax money could come quicker than it might with three from-the-ground-up developments.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Coney casino developers believe a casino resort is exactly what Coney Island needs.<\/p>\n","protected":false},"author":25,"featured_media":307603,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,86428],"tags":[82491,83237,87197,34,82418,87074,85339],"acf":[],"yoast_head":"\n
The Coney Casino Developers Continue to Field Community Input<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n