Honestly, the dream of a glimmering casino rising from the boardwalk was always a bit of a gamble. For a while there, it felt like The Coney—that $3.4 billion glitz-and-glam proposal—was actually going to happen. People were talking about year-round jobs and a 500-room hotel that would finally make Coney Island more than just a summer fling. But then, the reality of Brooklyn politics and a very loud, very organized community stepped in.
By late September 2025, the music stopped. The Community Advisory Committee (CAC) held a vote that basically killed the project in its tracks. It wasn't even close. A 4-2 "no" vote effectively blocked Thor Equities and their partners from even being considered for one of the state's three downstate licenses.
If you're looking for the casino floor today, you won't find it. The "People's Playground" is staying exactly as it is—at least for now.
Why The Coney Island Casino Plans Collapsed
Most people think the state just picked other winners and left Brooklyn out. That’s not quite how it went down. The process was designed to give locals a "kill switch," and boy, did they use it.
To understand why it failed, you have to look at the math and the mood. The developers—a heavy-hitting group including Thor Equities, Saratoga Casino Holdings, the Chickasaw Nation, and Legends—tried to sweeten the pot at the last minute. They offered to bump a community trust fund from $200 million to $300 million. They talked about 4,000 union construction jobs. They even promised a $75 million fund for public safety.
But the locals weren't buying it. At the public hearings, the vibe was more "funeral" than "festival."
💡 You might also like: Missouri Paycheck Tax Calculator: What Most People Get Wrong
- Traffic Nightmares: Projections showed over 27,000 trips a day. On a peninsula with basically two ways in and out? People panicked.
- Shadows on the Boardwalk: The proposed towers, some reaching 400 feet, would have literally cast shadows over the historic amusement district.
- Business Cannibalization: Small shop owners on Surf Avenue feared a massive, all-in-one resort would swallow their customers. Why grab a Nathan’s dog when you can eat at one of 20 upscale casino restaurants?
Brooklyn Borough President Antonio Reynoso and State Senator Jessica Scarcella-Spanton were two of the loudest "no" votes. Reynoso didn't mince words, calling the proposal "deeply unimpressive." He basically argued that a casino isn't a "public good" for a neighborhood that already struggles with infrastructure and rising rents.
The Competition Left Brooklyn in the Dust
While Coney Island was tied up in shouting matches at the local library, other projects were playing a much smoother game.
By December 2025, the New York State Gaming Commission officially handed out the three coveted downstate licenses. The winners?
- Resorts World New York City (Queens)
- MGM Empire City (Yonkers)
- Bally’s Bronx (at Ferry Point)
The first two were "racinos" that already existed, so they were always the favorites. They had the infrastructure and the track record. Bally's, meanwhile, managed to navigate the Bronx community process without the same level of scorched-earth opposition that hit Brooklyn.
What Was Actually in the Plans?
It’s wild to look back at what was proposed. This wasn't just a room full of slot machines. It was a 1.3 million-square-foot monster.
📖 Related: Why Amazon Stock is Down Today: What Most People Get Wrong
The site was supposed to sit right on Surf Avenue, sandwiched between Maimonides Park and Luna Park. We're talking about a massive footprint that would have fundamentally changed the skyline.
The Proposed Specs:
- Gaming Floor: Over 350,000 square feet.
- Hotel: 500 luxury rooms.
- Food Hall & Restaurants: 20 different dining spots.
- Convention Space: 92,000 square feet for meetings and events.
- Parking: A 1,500-space garage (which critics pointed out was nearly 1,000 spaces short of peak demand).
The Chickasaw Nation, who operate the world's largest casino in Oklahoma, were the ones bringing the "gaming soul" to the project. They’ve done this before, but New York City is a different beast entirely. You can’t just build a "destination" in the middle of a dense, historic residential neighborhood and expect everyone to clap.
Is the Dream Dead or Just Sleeping?
The short answer: It’s dead for this round. Because the CAC rejected the bid, the rezoning that would have allowed for such a massive complex is being reversed.
However, Joe Sitt and Thor Equities still own a lot of that land. They’ve been trying to "revitalize" (or develop, depending on your perspective) Coney Island for twenty years. They aren't just going to pack up and leave.
👉 See also: Stock Market Today Hours: Why Timing Your Trade Is Harder Than You Think
But for a casino specifically? The ship has sailed. The state has its three winners. Unless New York decides to authorize even more licenses in the 2030s, you won't be doubling down on 17 near the Cyclone anytime soon.
Actionable Reality for the Neighborhood
If you live in or visit Coney Island, the focus has shifted from "Casino or No Casino" to "What now?"
The rejection of the casino means the neighborhood has to find other ways to solve its "seasonal" problem. Right now, Coney is a ghost town in February. The casino was supposed to be the "year-round" engine. Without it, the community is looking at:
- Ferry Service Expansion: There’s still a push for a reliable ferry to Manhattan to help commuters and off-season tourists.
- Housing vs. Amusements: Now that the casino rezoning is dead, look for new proposals for residential high-rises that don't include a gambling floor.
- Infrastructure Fixes: The city still needs to address the drainage and traffic issues that the casino developers promised to fix. Now, that bill falls back on the taxpayers and the city budget.
The "funeral" held by the nonprofit Coney Island USA after the vote tells you everything you need to know. The community won the battle, but the war for Coney Island's future is far from over.
If you're tracking the site, keep an eye on the New York State Gaming Commission updates for the progress of the Queens and Bronx sites. Construction there is slated to start in early 2026. For Brooklyn, the "No Casino" signs are staying up, and the neighborhood remains a sanctuary for roller coasters, not roulette wheels.
Next Steps for Stakeholders:
- Monitor the Rezoning Reversal: Watch the NYC Department of City Planning for the official rollback of the Surf Avenue special permits.
- Follow the Winners: Check the progress of Resorts World in Queens, as they are expected to be the first to open live table games as early as March 2026.
- Local Development Watch: Keep an eye on Thor Equities' next move for the Surf Avenue lots; they likely have a "Plan B" involving residential or retail-only developments.