Cohen has held meetings, including two visioning sessions, with the public to solicit feedback as to what to incorporate in his plans. According to Soloviev, the overall project is being dubbed “Freedom Plaza,” and it would also include the construction of a museum dedicated to democracy. The casino would be upscale and would be part of the newly created district that has been developed by the Related Companies that consists of office towers, high-end stores and luxury apartments. The company aims to create a Monte Carlo-style casino that will attract wealthy tourists from around the world. In February 2024, Resorts World rolled out a $5 billion expansion and redevelopment plan should it receive a full gaming license.
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Resorts World’s expansion plan includes the creation of a new 50-acre park on the Aqueduct Racetrack site, as well as a 7,000 sq. Like an exclusive, high-stakes game of Texas Hold’em, the process has been reserved for the uber-wealthy — with an applicant needing more than $1 billion just to be in the running. The ante to merely apply is $1 million, with successful bidders required to pay $500 million upfront for the license and at least $500 million as part of a development plan. Licenses will be good for a minimum of 10 years and a maximum of 30 years. Without question, the three winning bids will have the potential to reshape the socioeconomic landscape of the New York City metro area. Ten high rollers continue to vie for three lucrative full casino licenses in downstate New York in a years-long race that evolved from a sprint to a marathon.
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The Council often votes the way of the local councilmember, a practice known as councilmember deference. According to reports, SL Green has also pledged to use a portion of the casino’s revenues to fund safety and sanitation improvements in Times Square. The three Manhattan casino proposals, meanwhile, are filled with the kind of glitz and glamor that captures the imagination and may prove to be offers too good for the state to refuse.
Their role is to gauge the interest of the community and make a recommendation. At least four of the six committee members must approve of the plan for it to move forward. Yet the race for all three downstate licenses is wide open — and nothing is a sure bet in the fierce competition full of big ideas and visions with billions of dollars at stake. The Las Vegas Valley has the largest concentration of casinos in the United States. Based on revenue, Atlantic City, New Jersey, ranks second, and the Chicago region third. The Casino Estoril, located in the municipality of Cascais, on the Portuguese Riviera, near Lisbon, is the largest casino in Europe by capacity.
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