Mets owner Steve Cohen has officially been awarded a casino license in New York, enabling him to build an $8 billion hotel and casino complex next to Citi Field.
• 1,000-room luxury hotel
• 5,000 slot machines & 375 dealer tables
• Restaurants, bars, and a theater for shows
• 25 acres of public parks and playgrounds
Cohen is essentially taking an undermonetized asset — 50 acres of parking lots around the stadium — and trying to transform it into a year-round revenue engine that produces consistent returns independent of how the Mets perform.
And with the New York State Gaming Commission predicting that the property will generate $3.9 billion in annual revenue, Cohen's 50-acre complex would instantly be one of the top 10 largest U.S. casinos by revenue.
Today's newsletter breaks down all the details, including how the bidding process worked, why Cohen has to pay $500 million upfront, and what this means for the Mets.
READ: https://t.co/l5HzL4YNBQ
@AsaRehman@LWillson_82 There’s a big group of 40-60 year olds who grew up with the CFL, and care about the CFL, but haven’t actively followed the league in years. That is who you have to re-engage. This helps.
@patersonjeff@CanucksArmy Can we define what constitutes a 2C ? I’m sure the opinion differs significantly amongst fans, so let’s set some parameters. I think people will be surprised. Time for some mid August discussion.
@MikeMartignago First Cap in a long time to pass my “Breakfast TV” test. I.E., can you go on breakfast TV, have a chat, and engage the casual fan? He hits it out of the park. 10/10!
@HarJournalist MLS going to move to a fall/winter schedule right when Vancouver gets a new outdoor stadium. We’re all gonna complain about watching soccer outside on a rainy, 10 degree November day.
@CanucksArmy They likely are looking for a Ty Mueller or Kudryavtsev level prospect, waiver eligible. Not sure they get it, I can see Tampa Bay being in the mix.
@MLSMoves North American sports culture prioritizes playoff success over regular season success. Does any Pro/Rel league in the world have that same culture?
I doubt it, don’t think it would work here.
@jabo_vancouver He was traded 7 months after being drafted in the 5th round. No one blinks an eye at that point. Turns out years later he became a good player, which rarely happens to 5th rounders.
@strikerita @GlassCityFC Is a loan for Tom McGill completely pie in the sky unrealistic?
He never plays, and it would put him on the national team radar prior to the World Cup.