Steve Cohen

New York City has taken a decisive step toward reshaping its gaming and entertainment landscape, granting final approval to casino projects backed by prominent investors and global gaming operators. High-profile stakeholders, including hedge fund billionaire Steve Cohen alongside established casino groups Bally’s and Genting, have secured authorization to develop integrated casino resorts within the city’s limits.

Steve Cohen, owner of the New York Mets, has secured preliminary approval alongside Hard Rock International to build a massive casino and entertainment complex adjacent to Citi Field in Queens, under the project name Metropolitan Park. The proposed $8.1 billion development — one of three downstate casino licenses granted this week — promises a Hard Rock hotel, casino, live-entertainment venue, dining, retail, public green space, and substantial community investments.

In a landmark decision, New York regulators have approved a downstate casino licence for an $8.1 billion entertainment complex spearheaded by Steve Cohen near Citi Field in Queens. The project, known as Metropolitan Park, promises to transform 50 acres of underused parking lots into a mixed-use destination featuring a casino, hotel, live-event venue, dining, retail, green space and infrastructure upgrades. Backed by robust economic projections—including tens of thousands of jobs and extensive community investments—the plan could reshape local development dynamics.

The competition for New York City’s casino licenses has taken a dramatic turn as billionaire investor Steve Cohen’s proposed project near Citi Field gains traction. With several high-profile Manhattan casino plans faltering, Cohen’s vision for a sprawling entertainment and gaming complex in Queens is emerging as a frontrunner. The project not only promises billions in private investment but also positions itself as a catalyst for neighborhood revitalization, job creation, and long-term tax revenues.