Steve Cohen bids $500m for NYC Casino License

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Billionaire businessman Steve Cohen has been pitching his NYC casino. He wants it placed next to the Mets’ Citi Field in Queens. The billionaire bought the New York Mets in 2020 for $2.4bn, and he now has his eyes on one of the most lucrative prizes in gambling: one of three licenses to build a casino in New York City.

The state is charging $500m for the NYC casino license and will require a minimum investment of $500m as well. To win a coveted New York casino license, the billionaire has ”hired the best team that money can buy.”NYC Casino Steve Cohen

At least half of the proposals are targeting Manhattan, but Cohen is proposing the casino to be next to the Mets’ Citi Field in Queens on what is currently a parking lot and park. Caesars Entertainment wants to place slots, poker, and roulette tables in the building that’s home to The Lion King in Times Square, Saks Fifth Avenue is eyeing a boutique casino atop its flagship store, and Stefan Soloviev has pitched a gaming complex near the United Nations.

Competition among businesses

The initial casino licenses will run from 10 years to 30 years based on the investment of the winning bidder. There is competition between all of the other businesses and individuals who are pitching for casinos. The area of interest is from midtown Manhattan to Nassau County on Long Island. And yet, Cohen is aiming to outspend the competition.

The magnate has hired eight firms and two dozen lobbyists to impress the NYC officials and the state government.

Source: gamingamerica.com 

Read more: The Future of Casino and Gambling in New York

Liga Tarasova has a history of quality assurance and leading teams in an outsourcing company. Currently, she is working remotely as an Editor in Chief for Onlinegamblers.com. She stands for fair and safe gambling for people in the USA. Not long ago, she lived in Malta, the global iGaming hub, and worked at an iGaming company offering cloud-based product and platform services to B2B partners. Liga’s passion is visual arts and interior design.

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