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Edward Scimia
Journalist
Edward Scimia
Journalist
Ed Scimia is a freelance writer who has been covering the gaming industry since 2008. He graduated from Syracuse University in 2003 with degrees in Magazine Journalism and Political Science. In his time as a freelancer, Ed has worked for About.com, Gambling.com, and Covers.com, among other sites. He has also authored multiple books and enjoys curling competitively, which has led to him creating curling-related content for his YouTube channel "Chess on Ice."
Last Updated 18th May 2024, 09:52 PM
The developer behind a proposed Coney Island casino in Brooklyn has unveiled its plans for the resort, revealing an extensive complex that would see Thor Equities and its partners spend $3 billion on the project.
The rendering and other details, released on Thursday, outline the score of the casino complex that Manhattan-based developer Thor is calling “The Coney.”
The proposal includes not only a casino, but also 70,000 square feet of retail space, room for at least a dozen restaurants, a large convention center, a 2,500-seat concert venue, more than an acre of public open space, and a 500-room hotel.
Thor is working with Saratoga Casino Holdings, the Chicksaw Nation, and Legends to compete for one of the three downstate casino licenses which the New York State Gambling Commission is hoping to award in late 2025.
“For two years we have been speaking with the residents of Coney Island and Southern Brookyln about the need for a project that creates careers, supports local businesses, and centers entertainment around the idea of a playground that is truly accessible to the people,” Saratoga CEO Sam Gerrity told news reporters. “[Coney Island] needs a project that provides year-round economic support while also lifting up the infrastructure in one of the most densely traveled areas of the community.”
The Coney would be located on five acres sitting between Stillwell Avenue, West 12^th Street, and Wonder Wheel Way. Thor and its partners also plan to build skybridges and pedestrian walkways to connect various elements of the resort to each other and with existing developments on Coney Island.
The Coney and other casino proposals in New York City will be able to take advantage of legislation passed by the New York City Council in April, which will allow any developer who wins a downstate casino license in the five boroughs to have a zoning amendment for their facility as a right, bypassing the city’s Uniform Land Use Review Procedure. 
But Gerrity says that even with all projects benefiting from that change, The Coney can still move faster than many of the competing proposals in the city. 
“The Coney is a project that would be built on privately owned land,” Gerrity said. “That means we are ready to put shovels in the ground on day one.”
First, however, The Coney would need to snag one of the three downstate casino licenses. It faces fierce competition from other major proposals, including:
No matter who wins the licensing battle, development will be costly. In addition to the costs associated with building and opening each resort, there is a $500 million up-front fee that must be paid to New York State upon being awarded a downstate license. 
(Images: renderings courtesy of Thor Equities)
Ed Scimia is a freelance writer who has been covering the gaming industry since 2008. He graduated from Syracuse University in 2003 with degrees in Magazine Journalism and Political Science. In his time as a freelancer, Ed has worked for About.com, Gambling.com, and Covers.com, among other sites. He has also authored multiple books and enjoys curling competitively, which has led to him creating curling-related content for his YouTube channel "Chess on Ice."
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