The Coney Island Casino Project Pledges $200M Trust Fund for Local Community
The Coney, a proposed $3 billion integrated resort casino in Brooklyn, has pledged to create a $200 million community trust if granted one of New York's three downstate gaming licenses.
Former NYC Council member Robert Cornegy announced the trust would support various community initiatives, including:
- Local organization grants
- Boardwalk improvements
- Enhanced safety and security measures
- Improved public spaces
- Workforce development
- Environmental protection
- Public art installations
Modern casino building on boardwalk
The development consortium includes:
- Chickasaw Nation's Global Gaming Solutions
- Saratoga Casino Holdings
- Legends Hospitality Group
- Thor Equities
The proposed resort, planned for five acres at Surf and Stillwell avenues, will feature:
- 500-room hotel
- 2,500-seat theater
- Multiple restaurants and bars
- 90,000 square feet of convention space
- Gaming facility with slots, table games, and sports betting
- Public roof space equivalent to Bryant Park's lawn
The trust will be managed by a board of local stakeholders, ensuring community input on fund distribution. Julia Daniely, former Carey Gardens Resident Association president, endorsed the project, citing its potential to revitalize Coney Island's economy through year-round tourism and employment opportunities.
The New York Gaming Facility Location Board is expected to announce license recipients in 2025, with The Coney competing against major operators including MGM Resorts, Las Vegas Sands, Wynn Resorts, Caesars Entertainment, Hard Rock International, Bally's, Mohegan, and Genting.
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