Steve Cohen, the billionaire owner of the New York Mets, has unveiled his plans for an $8 billion casino hotel and entertainment complex at the site of the Mets’ Citi Field ballpark in Queens.
The casino resort, being proposed in partnership with Hard Rock International, will be called Metropolitan Park, in recognition of the full name of the Mets franchise. It would sit on 20 acres of current parking lot area at Citi Field.
The surrounding property is home to Flushing Corona Park, the U.S. Open Tennis Center, and a planned soccer stadium for New York City FC, which is backed by Mayor Eric Adams.
The project is one of 10 proposed projects bidding for a casino license in New York City. The state has made three downstate licenses available, but two are expected to go to the current racino licensees, Genting and MGM. That would leave 10 bidders for the sole remaining license, with projects spread among the city’s five boroughs.
Cohen detailed the project at a press event last week. The complex would include a Hard Rock casino, a hotel and a music venue, plus 20 acres of green space, athletic fields, bike paths, and access to Flushing Bay.
“It’s time the world’s greatest city got the sports and entertainment park it deserves,” said Cohen, according to the New York Post.
“When I bought this team, fans and the community kept saying we needed to do better. Metropolitan Park delivers on the promise of a shared space that people will not only want to come to and enjoy but can be truly proud of.”
Jim Allen, Hard Rock CEO, added, “Hard Rock has been committed to New York since our first restaurant in 1984, and we’re excited to extend our stellar reputation as an employer, community partner, and world-class entertainment company to the World’s Borough.”
The announcement of project details is only one step on a steep journey to a license approval. As the land for the new facility is legally designated as parkland, Cohen would need to get the state Legislature and Governor Kathy Hochul to pass a law allowing commercial development there. There is opposition to the plan in the Legislature, including state Senator Jessica Ramos, who represents surrounding neighborhoods, who has yet to support the proposal.
Ramos, in a statement, said she is still exploring the plans. “I will be hosting another town hall on this proposal at the end of the month,” she said. “It’s important that my neighbors look carefully at the details, and we’ll continue together with our process.”
Queens Borough President Donovan Richards issued a much more positive assessment, saying in a statement, “I’m encouraged by Steve Cohen’s Metropolitan Park plan and its numerous community-centric proposals.” The Queens Chamber of Commerce, among others, also expressed support.
Many have observed another potential roadblock to Cohen’s casino licensure. In 2014, Cohen’s hedge fund was forced to pay a $1.8 billion penalty to the federal government after pleading guilty to wire and securities fraud. Many have speculated state officials may view the absence from this information violated the requirement that applicants file a disclosure form attesting to their “integrity, good character and reputation.”
The New York State Gaming Commission began the bidding process for the three commercial casino licenses in January. Each will require applicants to pay a minimum capital investment and license fee of $500 million.
Meanwhile, another potential New York casino applicant, the Soloviev Group, has dressed up its proposed site for a casino in partnership with the Mohegan Gaming Authority with 17,000 illuminated flowerlike stems in a display by artist Bruce Monro facing the East River in Midtown Manhattan.
Michael Hershman, the chief executive of the Soloviev Group and a member of the Soloviev Foundation’s advisory board, told the New York Times the installation will stay up for a year “regardless of whether we’re awarded a license or not.” He also said that if Soloviev were to win a casino license, part of the exhibit would figure in the landscaping design. “It’ll become a permanent fixture,” Hershman said.
