5 billion investment to its gaming facility at the Aqueduct

NYC Council rejects land use change for Bally’s planned Bronx casino effectively killing bid for gaming license

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MGM Resorts is proposing a $2.3 billion expansion of the Empire City Casino at Yonkers Raceway. Resorts World, owned by Malaysian casino giant Genting, is proposing a $5.5 billion investment to its gaming facility at the Aqueduct Racetrack in Queens. Some three hours drive north of Manhattan are the Native American tribe-owned Mohegan Sun and Foxwoods casinos in Connecticut. Two hours south are the New Jersey shore casinos of Atlantic City, and less than two hours due west in Pennsylvania is the tribe-owned Wind Creek Casino at the former site of Bethlehem Steel. Not surprisingly, the debate over the proposed Times Square casino has taken center stage, with supporters and opponents recently holding dueling rallies in the Crossroads of the World. The arrival of full-fledged casino resorts in New York City has been years in the making.

The property will also feature a tiny homes village called “Tiny Town,” the return of the Chip’s legendary summer oasis “Bikini Beach,” and a replica of the “over-the-top” Big Engine Bar. A rezoning could grant the company the ability to develop the site even if no casino license is awarded. However, Thor simply doesn’t see any way to truly revitalize Coney Island from an economic standpoint without a gaming facility attracting visitors to the beach during the slow winter months.