New York’s $3bn ‘Coney Casino’ killed: Battle for NYC casino license continues

Thor Equities’ ‘Coney Casino’ is expected to be shot down during CAC voting this month, as committee figureheads voice opposition to the $3bn complex.
Author: Lucy Wynne | Fact checker: Luciano Passavanti · Updated: ·
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A Thor Equities-led proposal to build a licensed retail casino on Brooklyn’s Coney Island is under major pressure ahead of a deciding vote by the designated community advisory committee (CAC). BonusFinder, an online casinos comparison site, gives you all of the latest updates on the NYC casino race.

Appropriately dubbed ‘Coney Casino’, the project had garnered not-insignificant support from several groups, including the Chickasaw Nation, Saratoga Holdings and Legends Hospitality, as well as residents. The latter was pronounced in the lead-up to a vital September 10 debate on the issue – where backers donned t-shirts outlining their favor for the venture.

However, following critical CAC hearings involving individuals both for and against the Coney Casino scheme, the operation will likely be shot down on polling day; potentially meaning another candidate out of the NYC casino bid.

CAC voting members displeased with Coney Casino proposal

On September 22, just 12 days after one of the episode’s most crucial debates, two CAC figures publicly expressed their intention to push back against Thor Equities’ Coney Island casino when called to the ballot.

Self-appointed CAC members, Senator Jessica Scarcella-Spanton and Brooklyn Borough President Antonio Reynoso, conveyed unified opposition to the idea. Speaking to the Brooklyn Eagle, Reynoso spoke of the conglomerate’s failures to uphold the needs of those living on the island:

The Coney has failed to prove itself as a public good. The proposal is deeply unimpressive and unresponsive to the needs, desires and rich history of the Coney Island community. Quite simply, it will not improve conditions for the Brooklynites who call Coney Island home.

Sen. Scarcella-Spanton echoed Reynoso’s sentiments, explaining that the proposal does not meet holistic travel and safety requirements for this particular setting:

I have concluded that The Coney’s application would not be suitable for the proposed location.

Although voting on Thor Equities’ Coney Casino has not yet taken place, it is clear that this floundering project will not advance beyond the upcoming ballot – which must be held by September 30.

The funding group may opt to revive its casino hopes elsewhere in the state. With three New York licenses available, four competing organizations and alternative locales to explore, Thor Equities could seek approval from other nearby CACs.

Opposing forces won out after passionate debates…

Sources attending Coney Casino hearings pointed to a noticeable divide in approach between those debating the proposed new complex.

According to Curbed writer Christopher Bonanos, anti-casino circles presented emotional arguments – highlighting the region’s ongoing struggles with addiction and existing power grid constraints, where recent outages have been endured by locals.

On the other side of the coin, “uniform and matter-of-fact” cases were put forth by supporting members.

Equally damaging were results taken from an online portal, where users vocalized opinions for each candidate. Of all contenders, Thor Equities’ Coney Casino sat among the worst-rated in terms of public perception.

Perhaps most damning is that after several fiery debates, Bonanos recounts that “the room grew more and more unified in opposition” during the September 10 congregation.

With a two-thirds majority needed to shoot down the motion, and four of six CAC members already expressly averse to Thor Equities’ multi-use facility, the result of this month’s upcoming vote is all but a formality.

Now, two racinos – MGM Empire City and Resorts World NYC – hold a clear advantage in the contest for New York’s triad of retail casino licenses. Both enjoyed unanimous passage during CAC voting on September 25, and stand as the state’s frontrunners for certification.

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Lucy leads the news desk at BonusFinder and has a wealth of knowledge and experience in both the B2C and B2B gambling industries. A slot aficionado at heart, she's the go-to woman for everything casino.
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