Saratoga Casino Holdings and partners Thor Equities, Chicaso Nation and Legend Global Planning will push for a Downstate Casino license for New York City. Their vision is to bring Las Vegas-style gaming properties worth US$3 billion to Coney Island on Stilwell Avenue and West 12th Street between Surf Avenue and Wonder Wheelway.
There are currently three Downstate Casino licenses available that have attracted much attention among development and casino companies. In early 2023, the gaming facility location committee officially began the application request process, which allows stakeholders to submit bids for casinos. Winners should be announced before the end of the year.
James Featherston Howe, the minority owner of Saratoga Casino & Hotel, which runs the VLT venue and harness track in Saratoga Springs, commented that numerous large companies are pursuing licenses. He is optimistic about the Union's bid because it will aim to revive the entire community on Coney Island, as well as being a casino and hotel.
Joseph J., CEO of real estate investment firm Thor Equity. In addition to casinos and hotels, Seat said their commercial bids will also include roller coasters and museums. But this may not stand a chance, as he says the proposed location is more than 30 minutes away from midtown Manhattan, where it is considered a seasonal destination and has limited hospitality options.
Meanwhile, Sam Gerriti, CEO of Saratoga Casino Holdings, shared that the company expects Chicaso Nation, Thor Equity and Legend Global Planning to bring casinos to Coney Island to boost the local economy. According to him, the commitment of the project will also support local residents and businesses and fulfill their commitments to the region.
In a joint statement, the coalition noted that their partnership is special as it combines unrivaled gaming expertise, unrivaled performance in entertainment, and commitment to serving the community. The parties concluded by submitting bids and saying they were excited to set new standards for the country's economic revitalization and resilience.
But for all the positives of their project, the Union will face serious competition from many companies and partnerships. One of them is SL Green, Caesars Entertainment, and Rock Nation, who want to bring gaming properties to Times Square. In December, their bids were encouraged by a group of local trade unions that thought of the potential for the region.
Another interested party is Soloviev Group, which is seeking to introduce a casino project to the United Nations headquarters in Manhattan. The company announced that it has selected Mohegan Gaming as the casino operator in its most recent bid. Freedom Plaza will house huge green areas, premium entertainment venues, Ferris wheel, more than 1,000 Premier hotels and two residential towers.
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