Developer Thor Equities has released the first details and renderings of its proposed casino on the Coney Island boardwalk in Brooklyn, New York, to be called “The Coney,” as Las Vegas Sands has offered renderings of its planned luxury property on Long Island.
The proposed $3 billion casino project, a partnership between Thor, Saratoga Casino Holdings, the Chickasaw Nation and Legends, would occupy five acres adjacent to the Coney Island boardwalk. The proposal includes a casino with a hotel, museums, a roller coaster and an indoor water park.
“The Coney Island Casino is going to help revitalize an area in desperate need of a boost, and we are looking forward to sharing our vision for a year-round entertainment venue that’s going to create jobs and economic growth with the community and the rest of New York,” Thor COO Melissa Gliatta said in a statement, according to the Commercial Observer.
Gliatta added that the local economy will benefit from what would be an all-season attraction to the boardwalk, where many retailers are idle during the winter months. It also would provide an instant upgrade to the aging boardwalk, she said.
Las Vegas Sands, meanwhile, is still negotiating a lease to take over 72 acres of the property where the Nassau Coliseum sits.
The top state official overseeing New York’s gaming industry last week told Newsday that “a casino in Nassau is not a done deal,” which may mean a longer wait before the three downstate licenses are decided.
“We are at the beginning of a process that could take much longer than what people are saying and that could go into 2024 or even 2025,” Brian O’Dwyer, chairman of the New York Racing and Gaming Commission, said in a Newsday Live webinar.
He also said that of the 10 entities that have expressed interest in bidding for a license, each proposal would be considered equally. “Nobody has an advantage or disadvantage,” he said.
