(And it may not even be the most polarizing contender in the New York news this week. The Queens bids is in the news again. More on that below.)
The Coney Island project is spearheaded by Saratoga Holdings, Global Gaming Solutions of the Chickasaw Nation, Legends, and Thor Equities. It aims to transform the historic beachfront neighborhood into a year-round entertainment and economic hub. In addition to the casino, the plan includes a 500-room hotel, a 2,500-seat concert venue, over a dozen restaurants, and 92,000 square feet of meeting and event space.
Despite promises of job creation and economic revitalization, many Coney Island residents are pushing back. They are citing concerns over the impact of gambling on the community. At a town hall meeting led by local activist Ronald Stewart this week, opponents voiced fears that the casino would harm rather than help the area.
“Those who say this will bring value — no, this will take value from the people who gamble their money away,” Stewart declared, capturing the sentiments of many who worry the development will benefit only its investors.
New York, New York: Two sides to every story
Stewart’s concerns echo a familiar refrain in debates about gambling expansion. “In gambling, they say the house always wins, and that is who will win here — the developers and their investors, not the community.” A New York casino may create jobs and attract visitors. But critics argue it will do so at the cost of local residents. Some could be drawn into a cycle of gambling-related financial hardship.
Read here for the full story.
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Original article: https://igamingbusiness.com/casino/new-york-latest-casino-drama/
