Five millionaires from New York City are participating in gambling in the Big Apple.
Each is competing for what will likely be a single license to build a legal casino in New York City. Technically, three licenses are available for downstate, but it is anticipated that two of them will go to Ghenting Resorts World at Aqueduct and MGM-Empire City Yonkers (existing, profitable “racinos” that will gain from the addition of table games like blackjack and pai gow poker).
Steve Cohen, Stefan Soloviev, John Catsimatidis, Stephen Ross, and Jay-Z are all vying for the lucrative license.
According to a source in the gaming industry, “every millionaire wants a casino.” The pinnacle of prosperity in the United States is to own a casino.”
Here are the five aspiring managers and their strategies for outperforming the competition:
Steve Cohen, the owner of the Mets, is pushing for a casino at Citi Field. Jay-Z is interested in Times Square, Stephen Ross is interested in Hudson Yards, Stefan Soloviev is interested in property near the United Nations, and John Catsimatidis is interested in Coney Island
Hudson Yards, which was created by Ross’s company Related, is located at this address.
Ross is no stranger to betting big — or losing large. In 2008, he paid $1 billion buying 95 percent of the Miami Dolphins. After 18 years of marriage, he divorced jewelry designer Kara Ross last year. According to a legal source quoted by The Post, the divorce may have cost him as much as $300 million.
But that sum pales in comparison to what it will cost Ross’s Related Companies if he, chief executive officer Jeff Blau, and president Bruce Beal triumph. First, the application itself costs $1 million. If granted, you are required to pay $500 million for the license.
The $700,000 that Ross provided to Kathy Hochul’s gubernatorial campaign last year is regarded as a wise investment.
Ross, 82, has formed a partnership with Wynn Resorts, a leading casino operator with locations in Las Vegas, Macau, and Boston. They will generate the greatest cash for the city, according to a source familiar with the project who spoke to The Post. They are not concerned with their rivals. It’s all about what they can do compared to what their competitors can’t.”
A minimum of one of the contestants is unruffled. “Hudson Yards has fallen short of its potential,” stated Stefan Soloviev to The Post. Instead of constructing a casino, Hudson Yards should focus on the promises it made on middle-income housing and green areas.
Odds: 4–1 Alan Woinski, president of casino consultant Gaming USA, told The Post, “If I had to create a casino in Manhattan, I would want it to be in the Hudson Yards area.” And it helps that one of the most successful casino firms, Wynn Resorts, is a partner.
Just south of the United Nations, on First Avenue between 38th and 40th Streets.
Son of the late influential developer Sheldon Solow, Soloviev has a reputation for being tough in business and, apparently, at home.
Earlier this year, the 47-year-old made news when nannies who had cared for some of his 20 children — yes, 20 children — described Soloviev as a “time bomb” while another told Business Insider that the job was “eight days in hell.”
Soloviev refused to discuss the claims with The Post, stating, “This is a business interview.”
Soloviev acknowledged that his opponents are “skilled businessmen” and stated that he and the CEO of his company, Michael Hershman, “are smart enough to recognize that politics is involved, but we will not play the political game. Lobbyists and [political] contributions have occurred. That occurs. We hope that lawmakers will recognize that our proposal is more than a casino.”
On six acres just south of the United Nations, Stefan Soloviev’s proposal for the license includes a casino, hotel, and democracy museum, as well as a ferris wheel similar to the London Eye.
The Soloviev Organization
Soloviev told The Post that he is in talks with potential partners including Las Vegas Sands Corp. The Venetian in Las Vegas and Macau is owned by Sands.
Just south of the United Nations campus and overlooking the East River, he intends to build a casino on six “shovel-ready” acres he describes as “blank slates.” He envisions a luxury Ferris wheel, comparable to the London Eye, as well as green areas, underground gaming (“casinos don’t have windows because they don’t want people to know if it’s night or day”), and a museum dedicated to democracy. “With authoritarianism on the rise, we deemed it essential,” Hershman said of the museum.
“We are not considering a Las Vegas-style structure,” he added, albeit the gambling den will feature a hotel.
One insider, however, told The Post that commuting to and from the proposed casino near the United Nations will be a nightmare: “It will be like having the United Nations General Assembly 52 weeks a year.”
Odds: 1,000-to-1 without a casino partner; 3-to-1 with Las Vegas Sands Corp. as a partner.
“This man knows nothing about casinos. “If Sands is involved, I take a lot closer look,” Woinski stated. The Marina Bay Sands in Singapore is the world’s most successful casino.
Steve Cohen, the hedge fund billionaire and owner of the New York Mets, lavishes. According to “From Scratch,” Cohen once paid Guy Fieri $100,000 for a day of friendship. It involved the chef with the spiky hair acting out a fantasy episode of “Diners, Drive-Ins, and Dives” as Cohen rode shotgun. His art collection is worth $1 billion, and he and his wife, Alexandra, have contributed approximately $1.7 million to political causes.
And then there is Cohen’s $2.4 billion purchase of the New York Mets and his subsequent spending sprees ($102 million for closer Edwin Daz and $162 million for outfielder Brandon Nimmo) in pursuit of a World Series championship by 2027.
Now partnered with Hard Rock International, which operates 14 casinos in the United States, Canada, and the Dominican Republic, Cohen plans to strategically place a casino in the parking lot of his team’s Citi Field, next to a projected $780 million NYCFC soccer stadium.
Steve Cohen, owner of the Mets, is collaborating with Hard Rock to build a casino next to Citi Field and the projected NYCFC soccer stadium in Flushing Meadows.
Architecture S9
Cohen, 66, has demonstrated his ability to obtain what he desires by thwarting Bill de Blasio’s attempt to strike out his Mets contract. When the former mayor wanted the team to go to Alex Rodriguez and Jennifer Lopez, he referred to Cohen as a “prohibited person” due to his previous hedge fund’s 2013 guilty plea to insider trading.
In the meantime, a rival criticizes Cohen for other reasons.
Soloviev stated, “There are already casinos in Aqueduct, eight miles distant from Citi Field.” “Citi Field makes no sense.”
The spokesman for Cohen did not respond to requests for comment.
John Catsimatidis, CEO of Gristedes and owner/talk show presenter for WABC, approaches the billionaire casino brawl with caution.
“At this time, we are not an official bidder,” Catsimatidis told The Post. We have a degree of interest and are going with caution.
If the grocery store magnate gambles at Coney Island, he may have little trouble understanding casino security and surveillance.
confined with a private eye In addition to Bo Dietl, Catsimatidis, 74, has knowledge of facial recognition software. Not only was it briefly used to combat stealing at a Gristedes, but he also used Clearview AI program to investigate Andrea’s suitor.
Regarding the viability of a casino in the land of Nathan’s hot dogs, a source raised a big obstacle: “How do you bring 40,000 visitors per day to Coney Island? The planned ferry service between downtown and Midtown has been suspended because of shifting sand, among other factors. It would be difficult to operate a casino.
Odds: 90–1 Woinski stated, “[Catsimatidis] hasn’t chosen a casino partner and he’s running out of people.” Coney Island is not inconceivable, but it would not be my first pick.
The rap mogul has joined with SL Green and Caesars Entertainment, which claims to be New York City’s largest commercial landlord.
Jay-Z Getty Images for 40/40 Club Player
Having a net worth of $1.5 billion
Times Square as a location
With everything Jay-Z has going on, including his own music career, the Roc-A-Fella Records label, Rocawear clothes, Armand di Brignac champagne, even Monogram cannabis, one has to ask why the 53-year-old would enter the gambling industry.
A source told The Post, “You may have as many yachts and private aircraft as you want, but a casino is a wonderful incentive for repeat business dealings.” “You can dazzle your business colleagues by offering them complimentary chips, holding them secret parties, and putting them up in your finest accommodations,”
In an effort to bring a casino to Times Square, Jay-Z has teamed up with Caesars, much to the dismay of the Broadway League.
SL Green
The rap mogul has collaborated with SL Green, who claims to be New York City’s largest commercial landlord, and Caesars Entertainment, which already owns or has partnerships with over 50 casinos in the United States, Canada, and the United Arab Emirates.
It is believed that Jay might handle Las Vegas residencies similar to Adele’s, a person close to the project told The Post. It would transform the casino into a full-fledged entertainment destination with New York swagger.
Odds: 10–1 Woinski remarked of Jay-Z and SL Green, “They have a lot of competition.” “They must gain approval from the Broadway League” Perhaps the last thing Times Square needs is a casino. You desire a location where the casino is the major attraction.”
»Steve Cohen and Jay-Z are vying for a casino license in New York City«