Metropolitan Park Advances in NYC Casino Race

The New York Mets’ season may have concluded in disappointment, but a separate venture linked to team owner Steve Cohen has cleared a major hurdle. Metropolitan Park, Cohen’s proposed $8 billion mixed-use casino and entertainment complex next to Citi Field, advanced this week in the state’s competitive race for three downstate casino licences.

On Tuesday, Metropolitan Park received unanimous approval from its Community Advisory Committee (CAC), becoming the fourth project to clear local review. The joint bid from Cohen and Hard Rock Entertainment now joins Resorts World New York City, MGM Empire City in Yonkers, and Bally’s Bronx as finalists for the coveted licences.

The approval concludes the community review phase of the process. The four surviving bids will now be scrutinized by the state’s Gaming Facility Location Board (GFLB), which will weigh economic activity, local impact, workforce benefits, and diversity commitments before issuing recommendations to the New York State Gaming Commission by December 1. Final decisions are expected by December 31.

If all three licences are granted, New York stands to collect $1.5 billion in fees upfront.

Cohen’s Spending Power and Political Reach

Metropolitan Park’s local approval was widely anticipated given Cohen’s resources and political reach. With a net worth of $23 billion, the hedge fund founder has been a prominent donor to state leaders, including Governor Kathy Hochul. That financial clout has underpinned a lobbying campaign spanning several years and costing millions.

The bid initially faced resistance from State Senator Jessica Ramos, whose district includes the proposed site and who declined to sponsor necessary rezoning legislation. Cohen ultimately found allies in Senator John Liu and Assembly member Larinda Hooks, who both backed the plan legislatively. Hooks, who chaired the CAC, provided the decisive sixth vote in Tuesday’s approval.

Public hearings on the project drew heated debate, but Hooks defended the process. “It’s always the person on the losing end who is going to say we weren’t heard,” she said afterward. “It was fair on both parts.” Metropolitan Park would transform 50 acres of Citi Field parking lots into a “stadium village” similar to entertainment districts around newer ballparks in Atlanta and Texas. Plans include a Hard Rock casino, hotel, and performance venue, alongside 25 acres of park space and other amenities.

For Cohen, who has invested heavily in the Mets roster since acquiring the franchise in 2020, the project represents an off-field strategy to boost the team’s profile and game-day experience. The timing is awkward, however: the Mets, once considered World Series contenders this season, collapsed in the standings and missed the playoffs. Cohen called the outcome “unacceptable” in a social media post.

Competitive Landscape

While Metropolitan Park has momentum, its path to a licence is complicated. Two of the other bids—Resorts World and MGM Empire City—are existing racinos with long-established operations and tax revenues. Resorts World, at Aqueduct, is promising a July 2026 launch if upgraded to a full casino, while MGM is targeting 2027. By contrast, Metropolitan Park is not projected to open until 2030.

Those speed-to-market advantages, combined with the facilities’ existing tax contributions, make Resorts World and MGM the strongest candidates. Industry observers suggest the real contest lies in the race for the third licence, likely between Cohen’s project and Bally’s Bronx.

Bally’s, however, faces financial headwinds. Its $1.7 billion Chicago casino is under construction but not yet complete, while its $4 billion Bronx proposal represents a larger undertaking. Questions about capital constraints persist as the company simultaneously teases another project in Las Vegas. Geography may also weigh against Cohen’s bid. Both Resorts World and Metropolitan Park are in Queens, just 10 miles apart, raising concerns about market cannibalization if two licences are awarded in such close proximity.

Metropolitan Park, Steve Cohen’s $8B casino project near Citi Field, secured unanimous local approval and now competes with three other finalists for one of New York’s downstate casino licences.

Uncertain Finish

The New York Gaming Commission retains significant discretion, and the state has a history of surprising outcomes in casino licensing. A decade ago, regulators awarded upstate licences to locations that defied industry expectations. For Cohen and Hard Rock, the CAC approval represents critical momentum, but not a guarantee. The months ahead will determine whether Metropolitan Park becomes a transformative entertainment hub—or remains an ambitious blueprint on the Citi Field parking lot.