Global Gaming Solutions, the Chickasaw Nation in Oklahoma’s gaming subsidiary, believes that the New York Gaming Location Board will approve their $3 billion casino resort bid in Coney Island. Its qualifying criteria need each bidding participant to illustrate how their gaming project will boost the local community’s economy.
The Chickasaw Nation runs WinStar World Casino Hotel, the biggest gaming property globally. Sam Gerrity, Saratoga Casino Holdings’ CEO, and Paul Pippin, Global Gaming Solutions’ Chief Operating Officer, revealed that their companies formed a consortium with Thor Equities and Legends Hospitality.
The developers are determined to construct a gaming venue in Brooklyn. Yet, feedback about their proposed casino indicates that residents don’t want to rely on gambling to revive their economy.
Some residents who took part in recent public engagement fear that a casino will increase drug use and addiction, rents, table games, slot machines, and crime. Gerrity and Pippen said that they are considering people’s concerns. They value their feedback and will use it to strengthen their application.
Downstate New York’s Economic Opportunity
The downstate area has three commercial casino licenses available. Yet, Resorts World New York City in Queens and Empire City Casino in Yonkers are likely to get a license each. The two racinos provide electronic video lottery gaming machines instead of live dealer tables games and Las Vegas-style slots.
One of the expected bids will be Coney Island. But the law doesn’t compel New York officials to give Empire City and Resorts World licenses.
Coney Island’s pitch is from operators who aren’t as popular as Wynn Resorts, Hard Rock, and Las Vegas Sands. But, the project’s supporters believe that they have an edge in understanding the state’s gaming market as they are targeting an area that needs to revive its dilapidated economy.
Gerrity stated that they have operated in the state for over 12 years and built strong relationships. State lawmakers approved seven commercial gaming operators in 2013. But, the three downstate properties were given a 10-year moratorium to enable four upstate casinos to launch and operate without unfair competition.
The New York Gaming Location Facility Board is required to consider bids whose projects will revamp their neighborhoods’ economic growth. Its grading criteria include business development and economic activity at 70 percent, diversity framework at 10 percent, workforce enhancement at 10 percent, and local impact sitting at 10 percent.
Gerrity and Pippin are confident that their casino proposal meets the board’s criteria. They intend to restore the area’s glory through the year-round project.
Pippin added that the Island is one of the state’s historic neighborhoods whose beach attracts tourists from all over the world. Coney Island is currently seasonal, and Pippin believes that a casino resort will make it busy throughout the year.
Lucy Mujica, Community Board 13’s chairperson, stated that some residents will lose public housing subsidies once the proposed casino hires them. But, its developers reiterate that they will partner with the community.
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