By: Hadassa Kalatizadeh
Mets owner Steve Cohen asked Queens residents for their ideas about developing the area surrounding the Citi Field ball field –including testing the waters for potentially adding a casino.
As reported by the NY Post, On Saturday, the billionaire hedge fund manager and his team went out to the ballpark and spoke to over 500 neighborhood residents asking for their input on how best to transform the vacant land in Willets Point adjacent Citi Field. The 66-year-old founder of Point72 Asset Management, owns the land and would like to finally turn it into a year-round, all-weather entertainment haven. Cohen said he is “looking for great ideas”. He also added that “a casino is definitely an option”.
Cohen has plans to build a NYCFC soccer stadium on the Flushing Meadows property. Cohen also is working to submit a bid to build the casino. As per the Post, he has teamed up with gaming giant Hard Rock International to offer a casino at Citi Field.
Last year, NY Legislators had approved three downstate legal casinos, and while two of those are expected to go to expanding existing ‘racinos’ (including at Resorts World in Aqueduct and MGM-Empire City in Yonkers), the third all new casino to be built is up for grabs. The competition will be tough though, as several NY billionaires and real estate developers have teamed up with gaming companies to make a bid. Last week, the state announced that the minimum price to open the new Big Apple casino will be $500 million. “An applicant may propose to pay a higher license fee,” added the New York Gaming Facility Board.
On Saturday, some of the residents expressed their opposition to a casino in the Willets Point area. “I’d rather not have a casino,” said Jeannine Williams, a Flushing resident. “I’d like to see more greenspace, a link to the marina. I’m a biker. I want to see something pretty.” Of course, green space is not much of a money maker. “We don’t expect everyone to support all our ideas, but that’s what this discussion is about,” said Cohen regarding potential opposition.
In April, Cohen started an entity called “New Green Willets,” and has already spent over $334,850 tapping outside lobbyists, hoping to secure support for a casino from elected officials. “Steve Cohen will spend more money than anyone,” Alan Woinski, president of the casino consultant Gaming USA, told The Post. “He likes to do whatever it takes to get what he wants.” As of November, insiders told the Post, that Cohen’s Casino bid for the land adjacent to Citi Field involves a $780 million mixed-used development project, potentially including a 25,000-seat stadium for the New York City Football Club, a hotel, and 2,500 units of affordable housing.
As per Forbes, with a current estimated net worth of $17.5 billion, Cohen is also a notable philanthropist, having donated roughly $715 million throughout his life. Charities of his choice have included causes involving children’s health, American veterans, New York University Langone Center, and the New York Museum of Modern Art.
