New York: Coney Island has a bit of everything. Does it need a casino?

New York: Coney Island has a bit of everything. Does it need a casino?

Article brief provided by The New York Times
  • Dana Rubinstein and Nicole Hong, The New York Times
November 22, 2022 2:51 PM
  • Dana Rubinstein and Nicole Hong, The New York Times
  • New York
  • Commercial Casinos

The Cyclone roller coaster. The boardwalk. The famous hot dogs. Not to mention the aquarium, baseball stadium and wide expanse of ocean beach. What more could Coney Island need?

In the opinion of Joseph J. Sitt, a longstanding Coney Island landlord, the answer is a beachfront casino.

On Tuesday, Mr. Sitt, the chief executive of Thor Equities, will announce a proposal, in partnership with Saratoga Casino Holdings and the Chickasaw Nation, to try to secure one of up to three new casino licenses aimed at the New York City region.

He joins a race that is expected to feature a crowded field of heavyweight contenders, including the hedge fund manager who owns the New York Mets, the billionaire developer of Hudson Yards and the owners of casino-like racetracks with slot machines in Queens and Yonkers.