The suggested Coney Casino & Resort in Brooklyn is enhancing its proposal in a bid to secure one of the three commercial gaming licenses reserved for New York’s downstate area. 

Robert Cornegy, an ex-Democratic member of the New York City Council who represented Brooklyn’s Bedford-Stuyvesant and northern Crown Heights areas, is spearheading the effort to establish a casino resort in Coney Island. On Thursday, Cornegy announced that if The Coney obtains a gaming license, the developers involved in the project will pledge to establish a $200 million trust that will 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 integrated resort casino plan from a group that features 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 land owned by Thor located at Surf and Stillwell avenues in the center of the city's entertainment district. 

The plan features a hotel with 500 rooms, a theater accommodating 2,500 seats, over a dozen dining and drinking establishments, 90,000 square feet of convention area, and a "top-notch gaming venue" with an indeterminate number of slot machines, live table games, and sports wagering options. Furthermore, The Coney would include a public rooftop area roughly the size of the Bryant Park lawn, which could be accessed from street level without having to pass through the casino. 

The Coney is in a competitive bidding group for New York’s three leftover casino licenses. Other anticipated bidders include MGM Resorts, Las Vegas Sands, Wynn Resorts, Caesars Entertainment, Hard Rock International, Bally’s, Mohegan, and Genting. 

The winners are expected to be announced by the New York Gaming Facility Location Board in 2025. 

Details of the Trust Fund 

If The Coney proceeds, the developers will create a $200 million fund for the Coney Island community. A panel that will manage its distribution will include “community 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 art. 

The Coney's $200 million public commitment has persuaded some locals that the casino might turn around the seaside town's economic downturn experienced in recent years. 

“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.