Coney Island Casino Project Clears Crucial Planning Commission Vote, Inches Closer to 2025 License Consideration

By: Russ Spencer

In a major milestone for New York City’s competitive casino licensing race, the New York City Planning Commission has approved a transformative proposal to bring a full-scale casino and entertainment resort to Coney Island. As Casino.com reported this week, the approval is a critical advancement for “The Coney,” a 1.3-million-square-foot mixed-use complex that aims to reimagine the iconic Brooklyn neighborhood as a premier gaming and hospitality destination.

The ambitious development, led by Thor Equities in partnership with Saratoga Casino Holdings, the Chickasaw Nation, and hospitality firm Legends, would include a sprawling 353,000 square feet of gaming space, a 100,000-square-foot rooftop area, a convention center, and 1,500 parking spaces. The proposal also calls for new retail establishments and a resort component, signaling a full-scale economic revitalization plan for the boardwalk-adjacent district.

According to the information provided in the Casino.com report, the Planning Commission’s vote is particularly significant because it comes despite a recent rejection by the City Council’s Land Use Committee regarding a proposed new roadway intended to improve area traffic circulation. While that denial created some uncertainty, the Planning Commission’s green light reestablishes momentum for the project as it seeks final City Council approval in the coming weeks.

Although the Planning Commission vote is an essential box checked for the Coney Island bid, Casino.com emphasizes that the journey toward a casino license is far from over. The New York State Gaming Commission is expected to award three downstate casino licenses later this year, and the field is brimming with heavyweight competition.

Among the other serious contenders are New York Mets owner Steve Cohen, who has partnered with Hard Rock International on a Queens-based casino project, and industry titans such as MGM Resorts International and Caesars Entertainment. Hip-hop mogul Jay-Z is also backing a Times Square proposal that has attracted significant public attention.

As the report at Casino.com explained, two key deadlines loom for all license aspirants: final applications must be submitted by June 27, and Community Advisory Committee (CAC) approvals must be secured by September 30. Without satisfying these requirements, no bid—regardless of planning commission status—can be formally considered for licensure.

While most Planning Commission members backed The Coney, the vote was not unanimous. According to the report at Casino.com, Juan Camilo Osorio, a professor at Pratt Institute and Brooklyn’s representative on the commission, cast a dissenting vote. Osorio raised concerns about several unresolved issues, including vague architectural renderings, insufficient flood mitigation planning, and a lack of detailed public infrastructure commitments.

“This includes the design of the sky bridge and the lack of sufficient public amenities,” Osorio said. “In addition, the street improvements need to be stronger in order to consider future flood risk.”

Despite these reservations, the majority of commissioners found the project compelling enough to move forward to the New York City Council, where a final public hearing and vote will determine whether the proposal receives local sign-off. As the report at Casino.com noted, that approval would effectively complete the local zoning and planning prerequisite phase—enabling the project to fully enter the state-level licensing race.

The financial implications of winning one of the three casino licenses are enormous. New York is already home to the most lucrative online sports betting market in the country, and according to Casino.com, the addition of downstate land-based casinos is expected to supercharge tax revenue and job creation.

In fact, the Coney Island project alone is projected to generate 4,500 temporary union jobs during construction and an estimated 4,000 permanent positions in gaming, hospitality, and resort operations. For an area long plagued by seasonal tourism volatility and economic underperformance, this could represent a significant and sustainable economic boost.

What’s more, Coney Island’s historic and cultural significance gives the project a unique advantage. As Casino.com reported, developers are hoping the nostalgic appeal of the boardwalk, combined with modern resort amenities, will provide a winning formula that distinguishes The Coney from more commercialized Manhattan or Queens-based proposals.

If approved by the City Council, The Coney will have cleared every local regulatory hurdle—no small feat considering the political, logistical, and environmental scrutiny such a project attracts. Still, as the Casino.com report reiterated, the ultimate decision will rest with Governor Kathy Hochul’s administration and the New York State Gaming Commission, both of which must balance economic impact with community sentiment and geographic diversity.

For now, the Planning Commission vote puts Coney Island on firmer footing than ever before, placing it squarely among the top contenders for a 2025 New York casino license. But in a race this competitive, no milestone—no matter how significant—is a guarantee of success.

The next few months could determine whether Coney Island finally gets its shot at becoming the next gaming capital of New York City.