Coney Island Casino Pitch Dubbed ‘The Coney,’ as Details for $3B Project Emerge

The Coney Island gambling casino proposal from New York real landed estate giant Thor Equities inward a syndicate that includes battle of Saratoga Casino Holdings, the Chickasaw Nation, and Legends Hospitality has a figure — “The Coney.”

Thor officials revealed the project’s figure through and through a mechanical press discharge that additionally disclosed renderings of the structured resort.

The proposition seeks to come in a cassino and resort hotel near the famed Coney Island Boardwalk and iconic 150-foot-tall Wonder Wheel.

Thor executives feature secured a roughly five-acre patch at Surf Ave. and W. 12th St. If the cast receives one of the terzetto downstate gambling casino licenses from New York’s Gaming Facility Location Board, Thor says the company, along with its evolution partners, will clothe $3 1000000000 to metamorphose Coney Island into a gaming destination that would assist revitalize the townspeople that’s seen ameliorate days.

Coney Comeback

Should The Coney obtain inward what’s expected to live a highly competitive summons state of war for the desired downstate concessions, the gambling casino would live within walking length of Coney Island’s marquise attractions. Along with the Wonder Wheel, Coney Island is topper known for its Cyclone wooden tumbler coaster, Luna Mungo Park amusements, and Nathan’s Famous Hot Dogs stand.

The Coney testament help revitalize Coney Island, bringing year-around jobs and world-class entertainment to Brooklyn and New York City,” said throw spokesman Eric Koch. “The project’s revitalizing force will assist parkway a Coney Island comeback for a biotic community that has lagged slow Brooklyn and the ease of New York City inwards several areas, including a higher poorness rate, unemployment rate, and higher rates of New Yorkers without wellness insurance.”

Coney Island was a pop summertime destination for New Yorkers during the betimes piece of the 20th century, but visitation began declining followers World War II. Crime later on increased, and the realm felled seam into economical hardship starting in the 1960s.

Numerous revitalization efforts feature been tried inward the decades since, but Coney Island today isn’t considered a first-class vacation destination past to the highest degree New Yorkers.

Thor, whose father Joe Sitt is a Coney Island native, has for many years sought-after(a) to assist the Lower New York Bay community of interests turn of events around its fortunes. Sitt inwards 2005 pitched a Las Vegas-style hotel and amusement green and spent more than $100 1000000 purchasing shore around the Boardwalk. But that project, which Sitt planned to modeling after the Bellagio on the Las Vegas Strip, never came to fruition.

$500M Fee, $500M Minimum

If Thor Equities and its gambling casino partners are awarded one of the downstate New York cassino licenses, the aggroup testament demand to pay off $500 billion for the gaming license. New York’s gambling casino rules so require that the licence holder commit a minimum of $500 jillion into the mental synthesis of the resort.

The downstate cassino bids feature been forming o'er the past times several months.

On Long Island, Las Vegas Sands wants to expend as practically as $5 1000000000000 to establish an integrated casino holiday resort at the Nassau Veterans Memorial Coliseum. In Queens, billionaire Steve Cohen has suggested building a gambling casino holiday resort with Hard John Rock International at his Citi Field MLB park that’s home to his New York Mets.

In the Bronx, the Bally’s Corporation and Trump Organization are underdeveloped a casino slant near the latter’s Trump Golf Links at Ferry Point.

In Manhattan, sidestep fund tycoon Sir Leslie Stephen Sir James Clark Ross is partnered with Wynn Resorts for a evolution at his W. H. Hudson Yards complex. a split casino connive targeting the East Side just due south of the United Nations comes from billionaire Stefan Soloviev and Mohegan. Finally, Caesars Entertainment and SL Green, a leading New York tangible estate landlord, need to position a gambling casino in Times Square.

Resorts World New House of York City in Queens near JFK Airport and Empire City Casino at Yonkers Raceway are lowering favorites for II of the 3 downstate licenses. Both racinos currently only if offering video lottery terminals and electronic table games.

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