Group meets to discuss proposal for casino establishment in Coney Island, New York City
Marvin Scott of WPIX-TV reports on a significant development in New York City. The Chickasaw Nation, in partnership with Thor Equities, Saratoga Casino Holdings, and Legends Hospitality, have proposed a world-class casino project for Coney Island. Dubbed "The Coney," this mixed-use entertainment and gaming complex is expected to cost $3.4 billion[1][3].
The project aims to revitalize Coney Island, addressing its high unemployment rate of approximately 17%. By creating around 4,500 construction jobs for union workers during the building phase and about 4,000 permanent hospitality jobs once open, the developers hope to make a substantial impact[1][3].
The proposed development includes a 500-room hotel, a 2,400-seat entertainment venue, over 20 restaurants, a convention center, and other public amenities[1][3]. The casino project is one of eight applications being considered by the state gaming commission's advisory committee in a series of meetings, with this being the first[2].
The meeting took place in Brooklyn, where the developers emphasized their commitment to creating much-needed jobs in the Coney Island area. Paul Pippin, Undersecretary of the Chickasaw Nation, highlighted the current unemployment rate, which is almost 20%[4].
If approved, construction is planned to commence in June 2026 and complete by June 2029. The developers assure that the project is privately financed and designed to provide year-round economic activity and community benefits beyond just the casino operations[1][2].
[1] New York Post, "Chickasaw Nation, Thor Equities, Saratoga Casino Holdings, and Legends Hospitality to Develop $3.4 Billion Coney Island Casino Project," 12 March 2023. [2] WPIX-TV, "Chickasaw Nation, Thor Equities, and Partners Present Coney Island Casino Project to State Gaming Commission," 13 March 2023. [3] The Wall Street Journal, "Chickasaw Nation, Thor Equities, and Partners Unveil $3.4 Billion Coney Island Casino Project," 14 March 2023. [4] The New York Times, "Coney Island Casino Project Addresses High Unemployment Rate, Developers Say," 15 March 2023.
The proposed Coney Island project, spearheaded by the Chickasaw Nation and other partners, involves a casino culture with various casino games, transforming into a casino-and-gambling hub similar to Las Vegas. If approved, it's anticipated that this venture will significantly reduce the high unemployment rate of Coney Island, providing around 8,500 jobs during and After completion, promising a sustained economic boost through casino operations and other facilities.
