The Coney Casino Project Promises $200M Community Trust Fund for Brooklyn License Bid
The Coney Casino developers have pledged to establish a $200 million community trust for Coney Island if granted one of New York's three downstate commercial gaming licenses.
The trust fund, to be overseen by local stakeholders, would support various community initiatives including:
- Boardwalk improvements
- Enhanced public safety and security
- Environmental protection
- Public art installations
- Workforce development programs
- Community organization grants
Modern casino building on boardwalk
The proposed $3 billion integrated resort casino project is being developed by a consortium including:
- Chickasaw Nation's Global Gaming Solutions
- Saratoga Casino Holdings
- Legends Hospitality Group
- Thor Equities
The development plan features:
- 500-room hotel
- 2,500-seat theater
- Multiple restaurants and bars
- 90,000 square feet of convention space
- Gaming facility with slots, table games, and sports betting
- Public roof space equivalent to Bryant Park's lawn
The project would be located on five acres at Surf and Stillwell avenues in Coney Island's amusement district. Former NYC Council member Robert Cornegy leads the campaign, emphasizing the project's potential to create year-round jobs and economic development.
The Coney faces competition from major casino operators including MGM Resorts, Las Vegas Sands, Wynn Resorts, Caesars Entertainment, Hard Rock International, Bally's, Mohegan, and Genting. The New York Gaming Facility Location Board is expected to announce winners in 2025.
Local community leaders, including former Carey Gardens Resident Association president Julia Daniely, have expressed support for the project, citing its potential to revitalize the area's economy and provide sustainable employment opportunities.
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