Chickasaw Nation and Saratoga Casino Holdings Join Casino Project for Coney Island
Saratoga Casino Holdings along with the Chickasaw Nation have joined a prospective project of Thor Equities, according to which there will be a casino and a hotel built on Coney Island.
The companies expect that, if approved, this project will lead to an “economic boon” and numerous career opportunities. The investment attracted to the project will be of over $3bn, these funds will be completely private, no taxpayer investment will be used. Due to the casino bid, 2,500 construction jobs as well as “thousands of permanent ones” are expected to be created.
The trio hopes to capitalize on the opportunity of being issued one of three downstate casino licenses but the competition is high as there are already a number of parties that have declared the same interests.
President & CEO of the Brooklyn Chamber of Commerce Randy Peers noted that the project would finally stimulate their local economy in a way that turns Coney Island into a year-round destination. Peers added that most importantly, it would create all-year full-time employment for their local residents who can grow their career and serve the community they grew up.
Bill Lance, Global Gaming Board Chair, noted that they currently enjoyed an excellent strategic partnership with Legends at their flagship property WinStar World Casino and Resort; their investment and involvement in that project reflected a desire to expand that relationship and extend it to additional strategic partners in Thor and Saratoga.
Lance added that they looked forward to a successful collaboration based on their combined strengths and perhaps most importantly — their shared commitment to develop a top-tier entertainment venue that promises to respect the history of the neighborhood and breathe new life into that iconic New York city landmark; they looked forward to taking their partnership with Legends — a known and trusted entity in New York — to even greater heights.
CEO of Saratoga Casino Holdings Sam Gerrity said that they were thrilled to be partnering with Thor Equities Group and Global Gaming Solutions, two world class organizations, to bring a community friendly gaming and entertainment venue to Coney Island.
In other news, Rivers Casino Portsmouth receives approval from the Virginia Lottery Board.