The Coney, a casino and entertainment complex envisioned for Coney Island that would turn the seaside town in the Brooklyn borough into a year-round destination, says its bid is accepted, according to Casino.org.

One of the last proposals for the three licenses up for grabs is the Coney, a casino in downstate New York.  Next Friday, June 27, 2025, is the last day to submit an application to the New York Gaming Facility Location Board.

In recent weeks, Wynn Resorts, Las Vegas Sands, and Saks Fifth Avenue left the competitive bidding pool.  The state Gaming Facility Location Board is scheduled to submit eight bids, including the Coney, and assign each to a Community Advisory Committee (CAC).

The Coney executives told Casino.org last week that their offer is prepared for submission and that the $1 million nonrefundable fee required for each application is in place.

Changes in the Economy

Even though the casino developers supporting The Coney, Caesars Entertainment, Hard Rock International, MGM Resorts, and Bally's Corp., may not have the same East Coast brand recognition as some of the other bids, they feel their bid for Coney Island best fits the RFA's requirements.  According to the New York Gaming Facility Location Board's review and selection criteria, "economic activity and business development" should be given 70% of the weight.

Thor Equities, a New York real estate company started by Joe Sitt, a resident of Coney Island, is in charge of the $3 billion project known as The Coney.  Thor is joined by Saratoga Casino Holdings, which manages the Saratoga Casino Hotel in upstate New York, and the Chickasaw Nation, one of the biggest tribes in the nation, which owns and administers one of the biggest casino destinations in the world, the WinStar World Casino Resort in Oklahoma.  Another partner is Legends Hospitality.

"We have the best story as far as economic transformation,” a spokesperson for The Coney told Casino.org.

According to the Coney consortium, the casino resort would transform the region—which is arguably best known for its amusement attractions and for being the setting for Nathan's Famous Hot Dogs—into a top destination for business meetings, leisure travel, retail shopping, and culinary treats.  In addition to a one-acre public park, millions of dollars in new local tax revenue, thousands of new jobs with a focus on hiring locally, and local partnerships with businesses in the area, The Coney has committed to a $200 million community trust fund, the best use of which will be determined by a local board of stakeholders.

The Path Ahead 

The Coney will submit its application and $1 million fee the following week.  New York Governor Kathy Hochul (D), NYC Mayor Eric Adams, State Senator Jessica Scarcella-Spanton (D-Kings, Richmond), Assemblymember Alec Brook-Krasny (R-Coney Island), Brooklyn Borough President Antonio Reynoso, and Coney Island Councilman Justin Brannan will then form The Coney's Community Advisory Committee on behalf of the New York Gaming Facility Location Board.

Brook-Krasny informed his constituents in December that he would vote "no" on the Community Advisory Committee.

“They are looking to create a casino that would ultimately destroy our quality of life,” Brook-Krasny wrote in an open letter. “My position is very clear and supported by the majority of my constituents asking me to reject The Coney. I stand with the community.”

According to the NYU Furman Center, over one in four people in Coney Island live in poverty, and the typical household income was only $43K in 2024.  

If Brook-Krasny keeps his "no" promise, then four of the five other Coney Island casino CAC members would have to vote in favor of the application, as the New York Gaming Facility Location Board needs a two-thirds majority to grant a gaming license to an application.