After months of speculation and negotiations, it appears that Steve Cohen’s plans to build a casino at Citi Field are “all but dead.” Sources close to the situation have reported that talks between the billionaire hedge fund manager and New York City officials have come to a standstill, leaving the proposed project in limbo.
Cohen, who purchased the New York Mets in late 2020, had expressed interest in developing a casino on the grounds of the Mets’ home stadium as a way to boost revenue for the struggling franchise. The idea was met with mixed reactions from fans and city officials, with some viewing it as a creative solution to financial woes and others expressing concerns about the social and economic impact of a casino in a residential area.
Negotiations between Cohen and the city hit a roadblock over the past few weeks, with disagreements arising over key details such as tax rates, licensing requirements, and community benefits. While both parties initially seemed optimistic about reaching a compromise, talks have since stalled, leaving the future of the project uncertain.
City officials have remained tight-lipped about the specifics of the negotiations, but sources close to the situation have suggested that disagreements over funding and regulatory issues have been major sticking points. Cohen, for his part, has expressed frustration with the lack of progress and has hinted that he may be considering other options for generating revenue for the Mets.
The news of the casino project being “all but dead” has sent shockwaves through the Mets fan base and the greater New York City community. Many had seen the development as a potential boon for the team and a way to revitalize the area around Citi Field. However, with talks now at a standstill, it remains to be seen what the future holds for Cohen’s casino plans.
Despite the setbacks, Cohen has reassured fans that he remains committed to finding innovative ways to support the Mets and improve the fan experience at Citi Field. Whether that will involve a casino or another form of revenue-generating venture remains to be seen, but one thing is certain – the billionaire owner is not one to back down from a challenge. Stay tuned for further updates on this developing story.
