Gov. Hochul Rejects Support for Steve Cohen’s NY Casino Bid

Three new casino licenses are up for grabs in New York. Recognizable gaming and hospitality companies have already shown interest, but the licenses are expected to be awarded at some point next year.

The Governor Doesn’t Intend to Support the Billionaire’s Project

Earlier this week, The Post, revealed that Gov. Kathy Hochul may favor one of the bids. The publication cited sources close to the matter suggesting that the Governor may consider introducing legislation that would benefit the casino license bid of Steve Cohen, the billionaire and Mets owner. Per those sources, this may be completed by legislation added to the 2025 state budget.

Cohen’s proposed project would require legislative changes. This is because the proposed casino would use parkland. The only way this can be achieved is by legislative changes that would permit the development of commercial structures on parkland, applicable to the site in Queens near Citi Field. Cohen’s project, in collaboration with the recognizable entertainment, gaming and hospitality giant, Hard Rock, is estimated at a mind-blowing $8 billion.

Following the release of the initial report, Gov. Hochul rejected the claims that she may consider tipping the scales in Cohen’s favor by adding legislation to the state’s 2025 budget expanding the parkland use for the new casino complex. “I have had no intention of putting this in my executive budget,” explained the Governor, quoted by The Post. Moreover, Gov. Hochul argued that there are people with bad intentions who are trying to manipulate the casino bidding process for their benefit.

Changes to Legislation Are a Requirement for the Project

Similarly, a spokesperson for Cohen also rejected the possibility of the Governor tipping the scales. The spokesperson explained that the legislative changes are a required step for the strategic process that would include the redevelopment of the 50 acres at Citi Field, for the new casino resort.

“Permitted use legislation doesn’t prejudge the gaming approval process in any way nor does it guarantee the project will move forward,” the spokesperson explained. Finally, they reiterated that the company would stick to the casino bidding process that applies to all interested parties and seek approval from the relevant commissions and committees for its project.

Another bidder for the casino license in New York, Jay-Z, who eyes a Times Square casino bid together with project partners SL Green and Ceasars Entertainment, recently proposed $250 million in grants that would benefit Hell’s Kitchen. Competing for one out of the three casino licenses, Jay-Z reaffirmed his commitment to developing a casino while at the same time delivering millions in grant money to help communities in Hell’s Kitchen. Besides grants to the local community, the rapper’s bid is expected to bolster tourism.