Steve Cohen partnering with Hard Rock on bid for $8B casino next to Citi Field

A 50-acre parking lot next to Citi Field would give Met fans and anyone else with money in their pocket another place to spend it if a proposed $8 billion casino and entertainment complex backed by team owner Steve Cohen goes forward.

While plans by Cohen to build the casino, in partnership with Hard Rock International, have been known for months, the details of his proposal, along with confirmation of his partners, were released for the first time Tuesday. The hedge fund billionaire is vying with nearly a dozen other applicants for one of only three coveted state licenses to build a full-scale casino in downstate New York.

The proposed casino site sits on what is technically state-owned parkland, and the legislature would need to pass a bill allowing annexation of the land. Such a bill was introduced in last year's legislative session but hasn't been considered for a vote.

Cohen's move comes amid ongoing efforts to build or expand gaming casinos on Long Island. Last month, a new company filing revealed that the Las Vegas Sands had paid $241 million to acquire a lease to control the Nassau Coliseum site and build a casino there if they are one of the winning applicants for a gaming license.

Separately, the Islandia Village Board in August approved plans for a $200 million expansion of Jake’s 58 casino, clearing the final hurdle for a plan to add parking, pubs and 1,000 new betting machines at the popular gaming parlor.

If Cohen is granted the license, he plans to partner with Hard Rock and SHoP Architects to build the gaming complex, which is being called Metropolitan Park. It would feature 20 acres of newly built public park space designed by landscape architect firm Field Operations, which helped develop the High Line in Manhattan and Freshkills Park in Staten Island. It would also include new athletic fields, a renovated mass-transit station and a "Queens food hall," a Cohen spokesperson said in a statement.

The new gaming complex would create 15,000 permanent and construction jobs, Cohen said. It would also be the latest effort to develop the area around Citi Field. New York City FC is building a 25,000-seat soccer stadium along Seaver Way across from Citi Field's bullpen gate. It is expected to open in time for the 2027 MLS season.

Cohen has hired more than a half-dozen lobbying firms and spent millions on sessions with the community to solicit feedback and support from the neighborhoods surrounding Citi Field.

Along with the Nassau Coliseum proposal, other competitors for downstate casino licenses are Resorts World at Aqueduct Racetrack and Yonkers Raceway/Empire Casino. The Nassau County Legislature has approved a 99-year lease agreement that would allow Las Vegas Sands to build the casino on the Coliseum site in Uniondale.

Sands has said it plans also include to two hotels and a 4,500-seat live performance venue. The state has yet to set a deadline for when prospective casino bids are due, or when it will make its decision on which bidders are granted a license.

In Islandia, plans for the expanded Jake's 58 include refurbished hotel rooms, three times as much parking, and pubs and bistros. Construction is set to begin later this year and should be completed in early 2025.