The Metropolitan Park casino bid has successfully moved through the New York Assembly, paving the way for its legislative approval. This significant step brings the proposed casino closer to realisation amid the competitive landscape for downstate licences.
Key Points
- The re-zoning bill essential for the Queens casino bid passed in the Assembly with a 32-2 vote.
- Sponsored by Assemblyperson Larinda Hooks, the bill re-zones 50 acres from parkland to commercial use near Citi Field.
- A companion bill in the Senate is also making progress, indicating bipartisan support for the casino project.
- The $8 billion Metropolitan Park plan is led by New York Mets owner Steve Cohen and Hard Rock International.
- Hard Rock CEO Jim Allen suggests the casino could be built within 18 months from final contract agreements.
Content Summary
The New York Assembly has approved the essential re-zoning law required for the proposed casino project in Queens to proceed. The Assembly’s Ways and Means Committee voted 32-2 in favour of the bill, which aims to transform 50 acres around Citi Field from parkland into commercial space. Following this, the bill was quickly reported to the Rules Committee and subsequently greenlit for a third reading with a 27-1 vote.
Assemblyperson Larinda Hooks is actively sponsoring the bill, signalling strong local support. The Metropolitan Park project, estimated at $8 billion and spearheaded by influential figures such as Steve Cohen, is in contention for a limited number of downstate casino licences. The Senate is closely monitoring the progress of this legislation, as it wires together several strands of support and opposition. Notably, construction could start 18 months post-licensing, according to Hard Rock’s CEO.
Context and Relevance
This legislative move holds considerable weight as it opens doors to potential economic benefits and job creation within the community. The ongoing competition for casino licences reflects a broader trend towards expanding gaming options in New York, making it vital for stakeholders and residents interested in local economic development to keep abreast of these developments.
Why should I read this?
If you want to stay in the loop about the evolving landscape of casino legislation in New York, this article is a must-read! It’s shaping up to be a pivotal moment for the Queens area, and knowing the ins and outs of this casino bid could give you some useful insights on local economic growth and future entertainment options.
