The Coney Casino Promises $200M Trust Fund to Brooklyn Community Pending License
The Coney casino consortium has pledged to establish a $200 million community trust for Coney Island if granted one of New York's three downstate commercial gaming licenses.
The $3 billion integrated resort project is being developed by a partnership including the Chickasaw Nation's Global Gaming Solutions, Saratoga Casino Holdings, Legends Hospitality Group, and Thor Equities. The proposed site spans five acres at Surf and Stillwell avenues in Brooklyn's amusement district.
Modern casino building on boardwalk
The proposed resort features include:
- 500-room hotel
- 2,500-seat theater
- Multiple restaurants and bars
- 90,000 square feet of convention space
- Gaming facility with slots, table games, and sports betting
- Public roof space comparable to Bryant Park's lawn
The $200 million community trust would fund:
- Community grants for local organizations
- Boardwalk improvements
- Enhanced safety and security measures
- Public space improvements
- Workforce development programs
- Environmental protection initiatives
- Public art projects
A board comprising local stakeholders will oversee the trust's distribution. Former NYC Council member Robert Cornegy, who's leading the casino campaign, emphasizes the project's potential to create year-round jobs and drive economic development in the area.
The Coney faces competition from major operators including MGM Resorts, Las Vegas Sands, Wynn Resorts, Caesars Entertainment, Hard Rock International, Bally's, Mohegan, and Genting. The New York Gaming Facility Location Board is expected to announce the winning bids in 2025.
Local community leaders, including former Carey Gardens Resident Association president Julia Daniely, have expressed support for the project, citing its potential to revitalize the area's economy through year-round tourism and employment opportunities.
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