The Coney Casino Resort Application and $1 Million Fee Ready for Submission in New York
Posted on: June 20, 2025, 03:59h.
Last updated on: June 20, 2025, 08:55h.
- The Coney casino bid for downstate New York is ready
- The Coney is a proposed $3 billion investment in Coney Island
- The casino developers say the mixed-use resort would transform the town into a year-round destination
The Coney, a casino and entertainment district planned for Coney Island that would transform the Brooklyn borough seaside town into a year-round destination, tells Casino.org its bid is a go.
The Coney is one of the remaining downstate New York casino bids for three available licenses. The New York Gaming Facility Location Board’s Request for Applications (RFA) closes next Friday, June 27, 2025.
The crowded bidding pool shallowed in recent weeks, as Wynn Resorts, Las Vegas Sands, and Saks Fifth Avenue exited. The Coney is expected to be one of eight bids fielded by the state Gaming Facility Location Board, which will then assign each submission to a Community Advisory Committee (CAC).
Chatting this week with Casino.org, officials with The Coney said their bid is ready to submit, and the nonrefundable $1 million fee that must accompany each application is in place.
Economic Transformation
While The Coney is backed by casino developers that might not have the same brand recognition on the East Coast as some of the other bids — namely, Caesars Entertainment, Hard Rock International, MGM Resorts, and Bally’s Corp. — the group believes their bid for Coney Island best suits the conditions of the RFA. The New York Gaming Facility Location Board’s evaluation and selection criteria are to place a 70% emphasis on “economic activity and business development.”
The Coney is a $3 billion investment led by Thor Equities, a New York real estate firm founded by Coney Island native Joe Sitt. Thor is joined by the Chickasaw Nation, one of the country’s largest tribes that owns and operates one of the world’s largest casino destinations in the WinStar World Casino Resort in Oklahoma, and Saratoga Casino Holdings, which runs the Saratoga Casino Hotel in upstate New York. Legends Hospitality is an additional partner.
We have the best story as far as economic transformation,” a spokesperson for The Coney told Casino.org.
The Coney consortium believes the casino resort would overhaul the area that’s perhaps best known for its amusement rides and being the birthplace of Nathan’s Famous Hot Dogs into a premier destination for leisure travel, business gatherings, retail shopping, and culinary delights. Along with thousands of new jobs and an emphasis on hiring locally, millions of dollars in new annual local tax revenue, a one-acre public park, and local partnerships with area businesses, The Coney has pledged a $200 million community trust fund where a local board of stakeholders would decide how to best use the money.
Road Ahead
Next week, The Coney will submit its application and $1 million fee. The New York Gaming Facility Location Board will then establish The Coney’s Community Advisory Committee consisting of New York Gov. Kathy Hochul (D), NYC Mayor Eric Adams, State Sen. Jessica Scarcella-Spanton (D-Kings, Richmond), Assemblymember Alec Brook-Krasny (R-Coney Island), Brooklyn Borough President Antonio Reynoso, and Coney Island Councilman Justin Brannan.
In December, Brook-Krasny told his constituents that he will be a “no” vote on the Community Advisory Committee.
“They are looking to create a casino that would ultimately destroy our quality of life,” Brook-Krasny wrote in an open letter. “My position is very clear and supported by the majority of my constituents asking me to reject The Coney. I stand with the community.”
The NYU Furman Center reports that the median household income in Coney Island in 2024 was just $43K, and more than one in four residents live in poverty.
For the New York Gaming Facility Location Board to award a gaming license to an application, its associated CAC must field a two-thirds majority support, meaning four of the five other Coney Island casino CAC members would need to vote in the affirmative if Brook-Krasny follows through on his “no” pledge.
Last Comments ( 3 )
Say no to any form of casino gambling in Coney Island. They tried shoving it down our throats 50 years ago and we saw through all the hype and said no. They promised the Atlantic City residents it would mean tons of high paying jobs; the residents applied only to be told they weren't qualified. The only jobs for the locals were minimum wage menial ones like janitors, maids, and behind the scenes kitchen help. The people most attracted to gambling are the ones who can least afford it.
If more than one in four live in poverty, I don't think a lot of people have a good quality of life.
Build a 3 billion dollar resort and casino in a slum area? That sure worked well in Atlantic City!