Coney Island Casino Plan Faces Scrutiny at CAC Meeting

The New York casino licensing process continued this week with the Coney Island project undertaking its inaugural Community Advisory Committee (CAC) meeting on July 30.

While the developers laid out an ambitious vision to transform the historic Brooklyn neighborhood, committee members raised questions about its true benefit for locals.

Representatives from Thor Equities, Saratoga Casino Holdings, the Chickasaw Nation’s Global Gaming Solutions, and Legends Hospitality shared their plans with the six-member committee.

The team presented a promotional video emphasizing history and nostalgia, together with community renewal. They used a repeated slogan, “It Just Makes Sense”, framed as the casino being the inevitable next step in the area’s legacy as the “people’s playground.”

“A Shovel-Ready Casino Resort” and More

The development team sold the project, slated for the corner of Surf and Stillwell Avenues, in the heart of Coney Island’s amusement district as a mixed-use entertainment resort that would attract visitors year-round.

While the casino will be central to the project, the developers emphasized it would occupy about 25% of the total footprint. The rest will focus on public-facing and community-centered amenities.

Highlights of the $3.4 billion proposal include:

• A 500-room hotel, including a spa, pool, and wellness center
• A 116,000-square-foot convention and events center
• Over 20 restaurants and 92,000 square feet of dining space
• An acre of rooftop parkland, publicly accessible without passing through the casino
• A 1,500-space underground parking garage
• A redesigned Stillwell Avenue, converted into a pedestrian promenade
• A projected 8 million annual visitors

According to architect Sarah Davis of FXCollaborative, the building’s design draws inspiration from Coney Island’s rollercoasters and storefronts to “activate the pedestrian scale.”

Peter McIny of Thor Equities stated:

“I think it’s important to note that we’re not just looking to place a Las Vegas-style casino in the middle of the world at Coney Island. This project is so much more than just a casino, but we’re trying to envelop it within the history and the rich background that Coney brings to make it like a rebirth for this beloved landmark.”

Melissa Gotto, also representing Thor Equities, noted that the rooftop park would be accessible from the Wonder Wheel without entering the casino. She emphasized the design’s goal of creating public amenities “not routed through gaming areas.”

The team says the project is “100% privately financed and shovel-ready.” If the Coney receives a license, construction would begin in 2026 and be completed in three years.

Job Creation and Economic Promises

Job creation formed the core of the developer pitch. According to the presentation, Coney Island’s unemployment rate is 17.2%, four times higher than the national rate.

The Coney would significantly improve that, with claims of over 10,000 total jobs. This includes 4,000 union construction jobs, 4,500 permanent union jobs, and over 2,500 indirect jobs.

The developers project that 60% of permanent and 40% of construction jobs will be MWBE (Minority/Women-owned Business Enterprise). The median wage for full-time positions will be over $71,000.

Paul Phippen of Global Gaming Solutions stressed the project’s economic ripple effect:

“In GGS, we don’t just build casinos, we build economies, and we build it for and with the people in those communities.”

Additional promises include:

• A $200 million community trust, governed by local leaders, to fund workforce development, affordable housing, and public safety
• A $75 million contribution for EMS, FDNY, and NYPD services
• A Responsible Gaming program featuring staff training, a dedicated resource center, and partnerships with the New York Council on Problem Gambling

CAC Member Marissa Solomon Questions Community Benefits

Despite the developers’ promises, Marissa Solomon, appointed by Assemblymember Alec Brook-Krasny and a volunteer at the Coney Island Museum—a group that opposes the project – questioned the accuracy of the hiring projections.

In their presentation, the Coney team stated that 8.7% of jobs would go to Coney Island residents. Solomon did the math:

“So, if you actually do the math for that, that’s only 182 full-time jobs. And as you were saying, the Coney Island unemployment rate is a really unacceptable 17.2%. If you add those jobs to that, that’s only going to bring it down to 16.43%, a drop of 0.77%, not even one percentage point.”

Solomon pointed out that the construction training the developers presented typically takes three years. That implies locals may not be ready in time for construction, even if training begins now.

Former Brooklyn Councilman Robert Cornegy Jr., who was part of the Coney project team, responded that the developers are open to expanding outreach:

“We’re open to ideas and how to how to do better and do give more jobs to Coney Island. So, if there’s ways to do it, we’re happy. Our commitment is to Coney Island and Brooklyn.”

Solomon Cites Past Diversity Gaps

Solomon didn’t stop there. She cited the developers’ own Diversity, Equity & Inclusion (DEI) disclosures submitted with the state application.

She emphasized that between 2020 and 2022, Thor Equities, which is located in New York, had no black executives or senior managers. In that time, it had only one Hispanic manager. Solomon pointed out that in New York, the black population is 22.7% and the Hispanic population is 28.3%.

Solomon also added that the Chickasaw Nation’s commercial gaming division had no black employees in 2020 or 2021. In 2022, it had just one, despite Oklahoma’s black population being 7.8%. Also, the company had one Hispanic employee, while Oklahoma’s Hispanic population is 12.9%.

She raised a question,

“So I’m just curious about your commitment to minority hiring. How would that proceed with this project given your past track record?”

The developers acknowledged the critique but stressed that they’re committed to diversity and the plans submitted to the state.

CAC Timelines and Next Steps

As per New York’s casino siting law, the Coney CAC must hold at least two public meetings. The committee must vote by September 30. At least four of the six members must approve the project for it to advance to the Gaming Facility Location Board.

The board will review the application against the other bids. It will then award three licenses by the end of the year.

Eight casino bidders are hoping to get one of the three licenses. The Coney was the sixth applicant to hold its inaugural CAC meeting. Only Metropolitan Park in Queens and Bally’s in the Bronx have yet to hold a meeting.

Notably, out of the six CAC hearings so far, only MGM Empire City did not present its plans to the committee members.