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In January, local Community Board 13 recommended denial of the application, with residents skeptical that Thor Equities would come through with its promises of $200 million in community investment. On Wednesday, Bally’s Corporation announced a community benefits agreement for the project that pledges to provide more than $200 million in community investment. The gaming giant says the Bronx casino will also provide 15,000 construction jobs and more than 4,000 permanent jobs for local residents.
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- The Midtown East proposal, which would also involve the construction of a new development, is led by real estate billionaire Stefan Soloviev and the Mohegan Tribe.
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Bally’s plans to develop a 500,000-square-foot gaming hall on the Bronx site, along with a 500-room hotel with a spa and meeting space, retail shops, a 2,000-seat event center, and two parking garages with capacity for up to 4,660 vehicles. The development would be spread across 16.75 acres on the public golf course at the park. The Empire City Casino, which is 15 miles from Times Square, has attributes similar to those of Resorts World and operates thousands of slot machines.
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The Midtown East proposal, which would also involve the construction of a new development, is led by real estate billionaire Stefan Soloviev and the Mohegan Tribe. It calls for a 1,200-room hotel, about 1,300 apartments, and an underground bongobongo bet kenya—all to go up just south of the United Nations headquarters. Both Resorts World NYC and MGM Empire city are likely to have little community resistance, pundits say, and would be able to convert to a full casino relatively quickly. Furthermore, they have the infrastructure needed for expansion, with parking and access to highways.
The structure, dubbed “The Coney”, would feature a new hotel just steps from the iconic boardwalk. Thor Equities, a real estate investment firm, is partnering with Saratoga Casino Holdings and the Chickasaw Nation to build a casino in Coney Island. Bally’s, a large gaming company that operates in Atlantic City, is looking to develop a casino at Trump Golf Links in Throggs Neck. Cohen has held meetings, including two visioning sessions, with the public to solicit feedback as to what to incorporate in his plans.
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To a large extent, that corridor has been left behind on economic growth for quite some time and so they need it,” Hefner said. A recent economic development study shows that the investment in the Santee area would support the underdeveloped Orangeburg community. The study found it would generate over $75 million in annual tax revenue according to Santee Development Corporation.
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