The suggested Coney Casino & Resort in Brooklyn is enhancing its proposal in an effort to secure one of the three commercial gaming licenses designated for New York's downstate area. 

Robert Cornegy, a past Democratic member of the New York City Council who represented the Brooklyn neighborhoods of Bedford-Stuyvesant and northern Crown Heights, is aiding the effort to establish a casino resort in Coney Island. On Thursday, Cornegy announced that if The Coney obtains a gaming license, the project's developers will pledge to establish a $200 million trust to support the coastal community.

"Coney Island is an incredible community and this $200 million trust will help make it even better for generations to come. Working directly with the community and stakeholders, the trust will include community grants for local organizations, Boardwalk improvements, better safety and security, and improved open spaces,” Cornegy said.

“The Coney is going to bring much-needed year-round jobs and economic development to Coney Island and if we are granted this gaming license this $200 million trust will supplement that by ensuring all of Coney Island benefits,” he added.

Project Information 

The Coney is a $3 billion proposal for an integrated resort casino put forth by a consortium that includes the Chickasaw Nation’s Global Gaming Solutions, Saratoga Casino Holdings, Legends Hospitality Group, and Thor Equities. The project aims to utilize five acres of prime property owned by Thor located at Surf and Stillwell avenues, right in the center of the city's entertainment area. 

The plan features a 500-room hotel, a theater accommodating 2,500 seats, over a dozen eateries and bars, 90,000 square feet of convention area, and a "top-tier gaming facility" with an unknown quantity of slot machines, live dealer table games, and options for sports wagering. Additionally, The Coney will include a public rooftop area roughly equivalent in size to the lawn at Bryant Park, which can be accessed directly from street level without having to navigate through the casino. 

The Coney is part of a crowded competition for New York’s three remaining casino licenses. Additional anticipated bidders include MGM Resorts, Las Vegas Sands, Wynn Resorts, Caesars Entertainment, Hard Rock International, Bally’s, Mohegan, and Genting. 

The New York Gaming Facility Location Board is expected to reveal its winners in 2025. 

Detalles del Fondo Fiduciario 

If The Coney moves forward, the developers will create a $200 million fund for the Coney Island community. A committee responsible for its distribution will include “local representatives and interested parties.” 

In addition to the previously mentioned potential applications, the funds will be allocated for enhancements in public safety and security, workforce training, environmental conservation, and public artwork. 

The Coney’s $200 million public commitment has persuaded certain locals that the casino might restore the seaside town’s economic downturn experienced in recent decades. 

“When I first heard about The Coney, I was intrigued. I liked the idea of a comprehensive entertainment and gaming destination that would bring tourists and their wallets year-round while also providing needed improvements and living wage job opportunities to my community. With the news of a new trust — one that includes me and my neighbors determining how and where money gets spent — I’m sold. The Coney will improve so much of what has been lost from Coney Island and I can’t wait to see it succeed,” said Julia Daniely, former president of the Carey Gardens Resident Association.