Stadium Discussion

DeGrozz said:
Minor scoops coming out of NYC this week:

Click to expand...
The Public Hearing for this is happening today and can be livestreamed here: https://www.youtube.com/channel/UCu0amGxQJBNtd1YlTFETTqQ

It's a packed agenda, so gonna be a long one and the NYCFC portion is likely to be a bit later.
 
LionNYC said:
Of course they haven't come to a deal yet. Thanks Cohen.
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I agree with Brian's gloss:

 
Shwafta said:
what does it mean realistically for us?
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IMO it's a game of chicken that Cohen can't win because his rope has less slack.:

He is 1 of 11 bidders for 3 casino licenses.
His bid, plus the Bronx golf course, face legal obstacles other bids don't face because they sit on NYC parkland.
If he doesn't get enabling legislation before the Albany session break in June, he probably can't get it until next January.
But casino bids and other intermediate steps in the casino bid process are likely to move forward before next January, and his bid is crippled if he hasn't cleared those hurdles. As the anonymous quote says "not a death knell but certainly a body blow."
Plus he needs a positive City Council vote before the Albany vote can happen. Few politicians seem to be strongly supporting his bid, in part because he's an easy target of scorn (rich, rulebreaking so and so) and partly because the neighborhood probably figures a baseball stadium, soccer stadium and tennis center - plus the other promised iron triangle development - are enough.
He can force the NYCFC project to proceed with a decidedly inferior parking solution (patchwork neighborhood garages) but he can't stop it outright because it is still a solution that meets code.
If the (probably) March vote approves Phase 2 with the stadium, Cohen loses most of his leverage that comes from the parking dispute. He could still refuse a deal out of spite, but wouldn't get much out of it otherwise.
 
mgarbowski said:
IMO it's a game of chicken that Cohen can't win because his rope has less slack.:

He is 1 of 11 bidders for 3 casino licenses.
His bid, plus the Bronx golf course, face legal obstacles other bids don't face because they sit on NYC parkland.
If he doesn't get enabling legislation before the Albany session break in June, he probably can't get it until next January.
But casino bids and other intermediate steps in the casino bid process are likely to move forward before next January, and his bid is crippled if he hasn't cleared those hurdles. As the anonymous quote says "not a death knell but certainly a body blow."
Plus he needs a positive City Council vote before the Albany vote can happen. Few politicians seem to be strongly supporting his bid, in part because he's an easy target of scorn (rich, rulebreaking so and so) and partly because the neighborhood probably figures a baseball stadium, soccer stadium and tennis center - plus the other promised iron triangle development - are enough.
He can force the NYCFC project to proceed with a decidedly inferior parking solution (patchwork neighborhood garages) but he can't stop it outright because it is still a solution that meets code.
If the (probably) March vote approves Phase 2 with the stadium, Cohen loses most of his leverage that comes from the parking dispute. He could still refuse a deal out of spite, but wouldn't get much out of it otherwise.
Click to expand...

This is precisely why I'm not concerned in the least about the parking issue. Of course they're going to allow NYCFC to use the lots. It's just a matter of time.

Even if the casino did happen, we'd still be allowed to use the spots because they're not being used at the same time for an NYCFC game as for a Mets game. They still need parking there
 
mgarbowski said:
IMO it's a game of chicken that Cohen can't win because his rope has less slack.:

He is 1 of 11 bidders for 3 casino licenses.
His bid, plus the Bronx golf course, face legal obstacles other bids don't face because they sit on NYC parkland.
If he doesn't get enabling legislation before the Albany session break in June, he probably can't get it until next January.
But casino bids and other intermediate steps in the casino bid process are likely to move forward before next January, and his bid is crippled if he hasn't cleared those hurdles. As the anonymous quote says "not a death knell but certainly a body blow."
Plus he needs a positive City Council vote before the Albany vote can happen. Few politicians seem to be strongly supporting his bid, in part because he's an easy target of scorn (rich, rulebreaking so and so) and partly because the neighborhood probably figures a baseball stadium, soccer stadium and tennis center - plus the other promised iron triangle development - are enough.
He can force the NYCFC project to proceed with a decidedly inferior parking solution (patchwork neighborhood garages) but he can't stop it outright because it is still a solution that meets code.
If the (probably) March vote approves Phase 2 with the stadium, Cohen loses most of his leverage that comes from the parking dispute. He could still refuse a deal out of spite, but wouldn't get much out of it otherwise.
Click to expand...
Excellent summary!
 
One more point I left out.. June 2024 is not just a soft deadline for his enabling legislation. It probably can't happen before then, because the state legislature rarely passes anything until a mad rush at the end of session (plus he needs that City Council vote first). That's why the timeline favors NYCFC: barring an unexpected adverse vote or delay, NYCFC should get it's political outcome before Cohen can possibly get his.
 
Kenny said:
Scroll down to the end of the article to see a map of the 11 bid locations for the 3 available downstate licenses.

gothamist.com

New York City rolls the dice on casino bids in 2024

From state legislative chambers to community board meeting halls, the contest for coveted casino licenses is heating up in the coming year.
gothamist.com gothamist.com
Click to expand...
That's helpful. I'll be kind of shocked if any Manhattan proposal wins, though it should be the most valuable in theory at least. Assuming the article is right that Yonkers and Aqueduct are the first 2, which makes some sense, then I'd place the favorites in order as Nassau, Bally Bronx, Cohen, and Coney Island.
Nassau spreads the sites into Westchester, NYC, and LI instead of 2 in NYC.
Bally is next because it has fewest neighbors to complain and also comes ahead of Cohen because Aqueduct is already Queens.
Cohen beats Coney Island because nobody wants to go to Coney Island for a night out. It's way too remote and a more depressing environment than Atlantic City at its worst. The only upside is more players would stay in any attached hotel because remote/dangerous/depressing.

Or whoever drops the biggest bags of cash in Addabbo's office wins.
 
It probably doesn't help with Albany that Nassau Co is alleging Hofstra and Cohen are colluding together to block the Nassau site deal.

therealdeal.com

Nassau County: Hofstra Conspiring With Queens Casino Bidder

Hofstra University’s lawsuit dealt a major setback to the Las Vegas Sands’ plans for a casino at the Nassau Hub, angering county officials.
therealdeal.com

edited to provide a better link.
 
Last edited:
I honestly don’t see the community appeal of a casino. It’s not going to be net positive for the area where it’s put. Sure, the owner may see a profit into their pockets but this isn’t going to be a Vegas situation.
 
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