The casino industry in the state of New York is one that is solid, but there is one major drawback when looking at where those casinos are located. There are no casino properties in downstate New York, but that is expected to change at some point in the future.
A casino property is expected to come to Coney Island at some point in the future, and some of those plans are starting to get unveiled. There is still work to be done, but this casino could become a massive success, at least according to the recent renderings that were announced.
Plans call for a $3 billion casino property to come to Coney Island, and it’s going to be much more than a simple casino property. A brand new hotel with up to 500 rooms will also be developed, and there will be more than 90,000 feet of convention space.
There are a number of different companies involved in this new property, including the Chickasaw Nation. The Dallas Cowboys and New York Yankees are also a part of this plan as they make up a group called Legends.
While nothing is official in terms of this location or property, these plans make it pretty clear that this would make for a great spot. Coney Island continues to be a popular tourist destination, and there would be enough visitors to support a new casino property.
A Lengthy Process
A new casino license has been discussed in the state of New York a ton over the last few years, but legislators can never seem to come to an agreement. Much of that discussion has been mixed with online casino legislation, but it appears that it will become two separate bills.
Recent bills call for three casino licenses to be available in the state, with at least one of those licenses going to a new company. Bidding was expected to go into 2025, but a recent push from lawmakers has sped up this process just a bit.
A recent bill calls for all of the bids to be submitted by July 31st, and that would allow for a license to be handed out before the end of the year. Lawmakers in New York have struggled to agree on much, and that could end up being the case with this bill as well.
Major Plans in Place
While Coney Island is known as a great tourist destination, things tend to cool off quite a bit during the winter months. This new development aims to create a year-round tourist destination by using walkways and sky bridges that are already in place.
Coney Island is also home to a subway station, and that will make it easy for visitors to get to the casino on the island. With space for other retailers and restaurants, residents of the state can also visit just to check out those businesses.
This plan is going to get massive support from those that are in the state as it touches on everything that would bring in additional revenue.
