In a landmark decision that could reshape the landscape of New York’s gaming industry, Governor Kathy Hochul has announced plans to greenlight billionaire investor Steve Cohen’s proposed casino in Flushing, Queens. The move comes as part of a larger push by the Hochul administration to revitalize the state’s economy and create new opportunities for economic growth.
Under the proposed legislation, which is set to be introduced in the state legislature next week, Cohen’s casino would be granted a license to operate in Flushing, a bustling neighborhood in Queens known for its vibrant cultural scene and diverse population. The casino, which would be located on a prime waterfront site overlooking Flushing Bay, is expected to attract thousands of visitors each year and generate millions of dollars in revenue for the state.
In a statement announcing the decision, Governor Hochul praised the potential economic benefits of the casino, noting that it could create hundreds of new jobs in the area and provide a much-needed boost to local businesses. “This casino has the potential to be a game-changer for Flushing and the surrounding community,” Hochul said. “It will bring new jobs, new opportunities, and new energy to an area that has long been in need of revitalization.”
The decision to greenlight Cohen’s casino has not been without controversy, however. Some critics have raised concerns about the potential social and economic impacts of a new gambling establishment in the area, citing issues such as addiction, crime, and increased traffic congestion. In response, Governor Hochul has pledged to implement strict regulatory measures to ensure that the casino operates in a responsible and ethical manner.
For his part, Steve Cohen, the billionaire hedge fund manager who purchased the New York Mets baseball team in 2020, has expressed confidence in the project’s potential for success. In a statement released to the press, Cohen said, “I am thrilled to have the opportunity to bring a world-class casino to Flushing and create a new destination for entertainment and leisure in Queens. This project represents a significant investment in the local community and will help to support economic growth and job creation in the area.”
If the legislation is approved by the state legislature, construction on Cohen’s casino is expected to begin later this year, with the opening slated for 2024. The project is also expected to include a hotel, restaurants, and other amenities, making it a major attraction for residents and visitors alike.
Overall, Governor Hochul’s decision to greenlight Steve Cohen’s Flushing casino represents a bold and ambitious move to spur economic development in New York. With potential benefits for both the local community and the state as a whole, this landmark decision could signal a new era of growth and prosperity for Queens and beyond.