To win a coveted New York casino license, the billionaire has ‘hired the best team that money can buy.’
The billionaire bought the New York Mets in 2020 for $2.4bn and he now has his eyes on one of the most lucrative prizes in gambling: one of three licenses to build a casino in New York City. The initial casino licenses will run from 10 years to 30 years based on the investment of the winning bidder.
At least half of the proposals are targeting Manhattan, but Cohen is proposing the casino to be next to the Mets’ Citi Field in Queens on what is currently a parking lot and park.
Caesars Entertainment wants to place slots, poker and roulette tables in the building that’s home to The Lion King in Times Square, Saks Fifth Avenue is eyeing a boutique casino atop its flagship store and Stefan Soloviev has pitched a gaming complex near the United Nations.
The state is charging $500m for the NYC casino license and will require a minimum investment of $500m as well. Despite the competition between all of the other businesses and individuals who are pitching for casinos from midtown Manhattan to Nassau County on Long Island, Cohen is aiming to outspend the competition.
The business tycoon has reportedly hired eight firms and two dozen lobbyists in a bid to impress the local community, elected officials across the city and the state government.
In the May/June issue of Gaming America, there will be an in-depth story covering the casino bid process in NYC.
