Steve Cohen Jackpot! NYC Council Approves Zoning Change for Hard Rock Casino

Posted on: March 14, 2025, 01:45h. 

Last updated on: March 14, 2025, 01:45h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.
  • Steve Cohen has secured a critical zoning decision
  • Cohen and Hard Rock are pitching a casino near the NY Mets ballpark
  • Three casino licenses are available for downstate New York

Hedge fund billionaire Steve Cohen secured a major victory this week when city councilors in New York approved a zoning change that clears the way for an integrated resort casino to be built near his Citi Field Major League Baseball ballpark.

Steve Cohen NYC Hard Rock Casino
A rendering of the proposed $8 billion casino complex at Steve Cohen’s Citi Field Ballpark in Queens. Cohen has teamed up with Hard Rock International to fulfill his New York City casino dreams. (Image: Hard Rock International)

Cohen is partnered with Hard Rock International in his pursuit of landing one of the three available gaming licenses allocated for downstate New York. Cohen and Hard Rock, working jointly as the Queens Future Development Project, have pitched an $8 billion development on 50 acres in Flushing, Queens, adjacent to the Mets stadium.

On Tuesday, the New York City Council voted 41-2 in favor of zoning changes for the Metropolitan Park development at Willets Point. Specifically, the council approved the bid’s Uniform Land Use Review Procedure (ULURP), a critical component in greenlighting projects that impact how city land is used.

With the council’s blessing, the ULURP bid goes to the mayor for final approval.

Cohen Casino Bid Ready

Sometime before the end of the year, the New York Gaming Facility Location Board is expected to determine which three bids win the coveted downstate gaming licenses, each coming with a one-time fee of $500 million made payable to the state. Before the board can review an application, the bid must secure all state and local zoning requirements, acquire public support via approval of a Community Advisory Committee (CAC), and pay the New York State Gaming Commission a $1 million application fee.

The CAC is formed to review each casino’s application. Each CAC for applications within New York City will include New York Gov. Kathy Hochul (D) and NYC Mayor Eric Adams (D). The four remaining members will be composed of the applicable state senator, state assemblymember, borough president, and applicable city councilmember.

The Gaming Facility Location Board will only consider applications that garner a two-thirds threshold of CAC support, or at least four votes in support.

Cohen and Hard Rock’s proposal previously underwent a City Environmental Quality Review (CEQR). The study concluded that “the benefits of the Queens Future Development Project outweigh the adverse environmental impacts, many of which can be mitigated by the measures identified in the Final Environmental Impact Statement.”

With those conditions cleared, a CAC is ready to assemble for Cohen and Hard Rock’s NYC casino presentation.

Queens Casino Details

Officially Hard Rock Hotel & Casino Metropolitan Park, the $8 billion blueprint envisions much more than a casino and hotel.

Along with the resort and typical amenities, the development includes plans for a live music venue, a “Queens Food Hall” with affordable cuisine from local vendors, and 20 acres of public park space with community athletic fields, playgrounds, and gardens. Cohen has pledged to build a new accessible mass transit station, expand parking, and construct a “modernized road and bike network.”

The project, if approved, would create thousands of permanent union jobs, with an emphasis on hiring locally.

It’s time New York got the sports and entertainment park it deserves. When I bought this team, fans and the community kept saying we needed to do better. Metropolitan Park delivers on the promise of a shared space that people will not only want to come to and enjoy but can be truly proud of,” said Cohen.

Cohen and Hard Rock are among a crowded bidding pool that additionally includes the likes of Las Vegas Sands, MGM Resorts, Genting Group, Caesars Entertainment, Bally’s, Saratoga Casino Holdings, and Wynn Resorts.