NYC Planning Commission Approves Coney Island Bid
The New York City Planning Commission has voted in favor of The Coney, a massive mixed-use development in Coney Island centered around a casino, hotel, convention center and more, according to News 12 Brooklyn. A consortium of partners on the bid includes Thor Equities, Legends Entertainment, the Chickasaw Nation and Saratoga Casino Holdings.
With the approval, the matter will now proceed to the city council for final review. If constructed, The Coney would span 1.3 million square feet along three city blocks. Even if the city council were to approve the project, it would still not guarantee its development.
The Coney is one of nine remaining bids for three available downstate New York licenses. Bids are due June 27, with licenses to be awarded by the end of the year. Two existing racinos—MGM’s Empire City Casino and Genting’s Resorts World New York City—are considered frontrunners, meaning there may only be one available license for the remaining bidders.
MGM Announces Renovations for Aria, Cosmopolitan, Hints Potential Springfield Sale
On its first-quarter earnings call April 30, MGM Resorts CEO Bill Hornbuckle announced that the company will renovate rooms at the Aria and Cosmopolitan. The Aria renovations will take place sometime in 2026 and the Cosmo will take place in 2027, per the Las Vegas Review-Journal. No other details were given.
MGM is currently undergoing $300 million worth of renovations at MGM Grand, which are set to be completed by year’s end. Aria, which opened in 2009, boasts 4,000 rooms, while the Cosmo, opened in 2010, boasts 3,000.
Also on the call, Hornbuckle seemed to hint at a potential sale of either MGM Springfield in Massachusetts or Northfield Park in Ohio, which have been rumored for several months.
“Northfield Park and Springfield are ongoing discussions, so those are assets we’ve been talking about for a while,” he said.
Anti-Casino Candidates Elected in Irving
Efforts by Las Vegas Sands to eventually develop a casino on the site of the former Dallas Stadium in Irving, Texas were potentially dealt another blow this week when two vocal opponents of the project won their elections and a third was sent to a runoff.
Per the Dallas Express, incumbent John Bloch was reelected and newcomer Adam Muller won his race. Sergio Porres, who has also voiced opposition to the effort, will head to a runoff with David Pfaff after the two of them garnered 47 percent and 45 percent of votes, respectively.
LVS earlier this year secured initial rezoning approval for the site but rising public opposition to the casino caused the company to remove the casino element from the proposal. The city council ultimately approved the revised plan and left the door open for a future casino. LVS has lobbied heavily for legalizing casinos in Texas but came up short again this year, meaning 2027 would be the next opportunity.
Rivers Casino Portsmouth to Build New Hotel
Mayor Shannon Glover of Portsmouth, Virginia announced during his State of the City address at Rivers Casino May 2 that parent company Rush Street Gaming will build a $65 million, 106-room hotel at the site. It is set to begin construction this summer and open in early 2027, according to WTKR. To be called The Landing Hotel Portsmouth, the property will have 32 suites and two “super suites.”
“We’re talking rooms for concerts, conferences, weddings, getaways, reunions,” Glover told the crowd, per WTKR. “And a reason for visitors to stay longer, spend more, and see everything our city has to offer. Now that’s what I call a ‘Jackpot’!”
AGEM Index Bounces Back in April
The AGEM Index, a stock index of 12 gaming suppliers from around the world, grew 7.8 percent month-over-month and 57 percent year-over-year. In March, all 12 companies had reported declines as markets flip-flopped on news of on-again, off-again U.S. tariffs. In April, seven of the 12 saw increases, led by Konami, which reported a 15 percent gain from the previous month.
