Queens Casino Backed by Mets’ Owner Moves Through NY State Senate
The New York State Senate passed a bill that rezones a parcel of land in Queens for the purposes of a possible future casino. So-called Metropolitan Park would sit on the land near Citi Field, with Hard Rock International as the casino operator.
Lawmakers are moving forward on an $8 billion Queens casino project proposal.
Key Facts:
- New $8 billion development could draw visitors to Queens thanks to the first New York-based casino operated by Hard Rock
- New York Mets’ owner Steve Cohen is one of the main investors behind the project
- Supporters of the casino and entertainment project cite economic benefits stemming from construction to jobs and tourism
The plan to redevelop 50 acres of underutilized land adjacent to Citi Field into a sprawling $8 billion entertainment and casino district has successfully cleared a critical legislative milestone.
The New York State Senate voted decisively (54-5) on May 27th to permit the rezoning of this publicly owned parcel, which currently serves primarily as parking space, opening the path for a potential economic and developmental transformation in that New York borough.
Spearheaded by New York Mets owner and billionaire hedge fund manager Steve Cohen in partnership with Hard Rock International, the Metropolitan Park project proposes an expansive entertainment complex.
Plans for the Queens casino project include a casino resort, luxury hotels, restaurants, retail spaces, and significant infrastructure improvements like upgraded transit facilities and pedestrian walkways.
Advocates emphasize that the initiative will inject billions into the local economy, stimulate tourism, and generate tens of thousands of union jobs.
Also planned is a 25-acre public park that would add nature walks and a touch of green to an area that has previously been dominated by concrete, steel, and brick. It’s estimated that more than 1,000 jobs could be created across many new businesses in Metropolitan Park.
Lawmakers Split on Proposed Queens Project
However, not all stakeholders are on board. Vocal opposition has emerged, notably from NY State Senator Jessica Ramos, representing the nearby Queens neighborhoods of Corona and East Elmhurst.
Sen. Ramos, a Democrat, argues that the Hard Rock casino project and other associated businesses and buildups do not reflect the community’s needs or desires, warning that such massive developments often marginalize local voices in decision-making processes.
Despite local contention, supporters like State Senator John Liu (a Democrat representing the 16th District), who sponsored the rezoning bill, insist the project represents a historic opportunity for Queens. Liu highlighted increased community support following extensive dialogue, a sentiment echoed by Assemblymember Larinda Hooks, who sees the project as essential for revitalizing the area.
The rezoning legislation now awaits approval from Governor Kathy Hochul. Should she sign off, Cohen’s casino venture will still face intense competition for one of the limited downstate gaming licenses from the New York Gaming Commission, with competing bids from high-profile locations such as Times Square and Coney Island.
Cohen Seeks Entertainment Mecca Near Citi Field Known as Metropolitan Park
If the owner of the Mets has his way, Queens will blossom into a major tourist attraction. Not only will sports fans want to see his team, featuring superstars like Pete Alonso, Francisco Lindor, and Juan Soto, but gamblers and visitors will be attracted to a glimmering new space called Metropolitan Park.
Cohen, the billionaire owner of the New York Mets, amassed his fortune through hedge fund management. He founded S.A.C. Capital Advisors in 1992, which became one of the most successful hedge funds before pleading guilty to insider trading charges in 2013, resulting in a $1.8 billion fine.
Following this, Cohen established Point72 Asset Management, which began accepting outside investments again in 2018 after a two-year SEC ban.
Cohen is now spearheading the historic $8 billion project to transform 50 acres of public land adjacent to Citi Field in Queens into a sprawling entertainment complex named Metropolitan Park. The site, currently used as parking lots, was formerly designated as a parkland and recreational areas.
The New York State Senate recently approved a bill allowing the repurposing of the state parkland for this development, marking a significant step forward for the project.
The bill had previously passed the Assembly. However, lightning-rod Cohen faces opposition from local officials and community members concerned about the impact on the neighborhood.
Cohen envisions the casino and entertainment district as a catalyst for economic growth, aiming to create thousands of jobs and revitalize the area surrounding Citi Field.
The project still requires approval from a local siting board and the New York State Gaming Commission to secure one of the three downstate casino licenses.
