Coney Island Casino Proposal Earns Stamp of Approval from NYC Planning Commission

^{The Cyclone roller coaster at Coney Island is celebrating its 98th birthday. Could a casino become the next thrill ride the area could offer? (Image:  Dinara Khairova / ZUMA / Alamy)}

The New York City Planning Commission approved a land use application for a Coney Island casino during a May 7 meeting, keeping the project alive in the race for a New York downstate casino license.

The project, known as The Coney, is being developed by Thor Equities in partnership with Saratoga Casino Holdings and Legends Hospitality Group. 

Planning Commission Overrules Community Board Vote

The historic, family-friendly nature of Coney Island has meant that the project has faced a fair amount of local opposition. Even with Thor Equities and its gaming partners promising $200 million for a community trust fund, the local Community Board 13 in Brooklyn voted against changing land use rules to allow for the full-scale proposed complex to be built in its neighborhood back in January. 

However, that vote was only advisory, and Thor Equities noted at the time that even without a land use change for the site of the casino, the company owned enough land and real estate to build a secondary, smaller version of its envisioned complex. 

The first binding vote came on Wednesday, when the City Planning Commission had the opportunity to weigh in on the land use application. And The Coney received nearly unanimous approval from the commission, with only Juan Camilo Osorio (Brooklyn) opposing the changes after raising questions about some aspects of the proposal.

“This includes the design of the sky bridge and the lack of sufficient public amenities,” Osorio said during the vote. “In addition, the street improvements need to be stronger in order to consider future flood risk.”

The New York City Council will now hold a public hearing and a final vote on the land use change. The date of that vote is not yet known.

Stiff Competition Ahead for New York Casino License Hopefuls

The proposed development would cover three blocks along Surf Avenue, ranging from Maimonides Park to Luna Park. The $3 billion proposal includes a casino along with a 2,500-seat concert venue, a 500-room hotel, 70,000 square feet of retail space, and a large convention center, among other amenities. There is also more than an acre of open public space included in the proposal.

But while Wednesday’s vote was a positive step for The Coney, the project still has a long way to go before coming to fruition. The project will be competing with about 10 proposals in total, all of which are vying for just three downstate casino licenses.

Two racinos – Empire City at Yonkers Raceway and Resorts World New York City – appear to have the inside track to licenses, as they are already in operation and could convert themselves into full scale casino resorts with minimal delay. Beyond those projects, several heavy hitters in the gaming industry are also in the mix, including Caesars, Hard Rock, Mohegan, and Wynn Resorts, among others. 

Still, the future of some of these projects remains uncertain. Las Vegas Sands recently backed out of its proposed casino development at Nassau Coliseum, saying it was uncomfortable with the possibility that New York might pass an online casino bill in the near future.