< h2 >NY Mets Owner Steve Cohen’s Pursuit of a Casino Near Citi Field< /h2 >
< h3 >Introduction< /h3 >
In a relentless effort to establish a casino in close proximity to Citi Field, home of the NY Mets, team owner Steve Cohen is leaving no stone unturned. While the Mets’ front office is currently preoccupied with Major League Baseball’s impending trade deadline, Cohen’s lobbyists are diligently working towards the realization of a casino project in Willets Point. Despite the challenges associated with the redevelopment of the neighborhood surrounding Citi Field, Cohen, a billionaire hedge fund manager known for his persistence, has set his sights on his latest venture.
< h3 >Cohen’s Strategic Approach< /h3 >
For Steve Cohen, achieving his goals is second nature. He has a track record of unwavering determination and success, which prompted his pursuit of the NY Mets when the Wilpons initially rebuffed his advances. After months of persistent negotiations and a staggering $2.4 billion investment, Cohen eventually acquired ownership of the team. However, the ambitious entrepreneur’s aspirations extend far beyond the Mets and the confines of Citi Field. Cohen recognized an opportunity in the form of a casino venture and wasted no time in laying the groundwork.
< h3 >The Vision for a Citi Field Casino< /h3 >
Since January, when the Governor of New York unveiled a budget plan that included the provision for three new “downstate” casino licenses, Cohen’s plans have been in full swing. Shortly after the budget announcement, Cohen hosted a meeting with New York’s Mayor at Citi Field, seeking support for a proposed casino at Willets Point. The agenda included a comprehensive redevelopment proposal, featuring not only the casino but also new schools and affordable apartments. Given Cohen’s significant financial contribution to a Political Action Committee (PAC) supporting Mayor Adams’ election, the attendance of City Hall officials was to be expected.
< h3 >Exploring Potential Casino Partners< /h3 >
While Las Vegas Sands initially collaborated with Cohen on the Citi Field casino project, other contenders have emerged. Union Gaming, an investment bank, has been enlisted by Cohen to assist in selecting a suitable casino partner. Reports suggest that, at present, Cohen is favoring a partnership with Hard Rock. However, MGM Resorts and Resorts World/Genting are also vying for one of the coveted downstate licenses, thus providing numerous alternatives for Cohen to explore.
< h3 >Sustaining Momentum and Greasing the Skids< /h3 >
To expedite the casino project and bolster his chances of success, Cohen has taken proactive measures. New Green Willets, LLC., a company associated with Cohen’s hedge fund Point72, has already spent $99,000 this year lobbying City Hall. Despite being a relatively new entity, New Green Willets is committed to ensuring that Cohen’s casino proposal gains favor with the necessary decision-makers.
< h2 >Conclusion< /h2 >
Steve Cohen’s determined pursuit of a casino near Citi Field exemplifies his unwavering ambition. While the NY Mets focus on their performance on the baseball field, Cohen’s lobbyists are tirelessly working to secure support and approval for a casino project in Willets Point. With a comprehensive redevelopment plan that includes schools, affordable housing, and an enticing casino, Cohen aims to revitalize the neighborhood surrounding Citi Field, creating an exciting entertainment destination for locals and visitors alike.
< h2 >FAQs< /h2 >
< h3 >1. How is Steve Cohen involved in the casino project near Citi Field? < /h3 >
Steve Cohen, the owner of the NY Mets, is spearheading the endeavor to establish a casino near Citi Field. He has been actively lobbying City Hall and seeking partnerships with renowned casino operators.
< h3 >2. What are the potential partners for the Citi Field casino project? < /h3 >
While Las Vegas Sands and Hard Rock are among the contenders, MGM Resorts and Resorts World/Genting also aspire to secure one of the limited downstate casino licenses.
< h3 >3. Will the Willets Point redevelopment plan include other amenities? < /h3 >
In addition to the proposed casino, the redevelopment plan for Willets Point incorporates the construction of new schools and affordable apartments, aiming to revitalize the neighborhood and create a vibrant community.
< h3 >4. How has Steve Cohen ensured support for his casino proposal? < /h3 >
Cohen’s hedge fund-associated firm, New Green Willets, has allocated significant funds towards lobbying City Hall and key decision-makers, effectively greasing the wheels and increasing the chances of approval for the casino project.
< h3 >5. What is the long-term vision for the casino at Citi Field? < /h3 >
Beyond the immediate focus on the NY Mets and Citi Field, Steve Cohen envisions a thriving entertainment complex that will attract visitors, boost the local economy, and transform Willets Point into a vibrant hub of activity.
