After years of anticipation, Steve Cohen’s $8 billion Metropolitan Park casino and entertainment district is officially moving forward.
On Monday, the New York State Gaming Commission granted full approval for Metropolitan Park’s gaming license, clearing the final regulatory hurdle for the massive development planned adjacent to Citi Field in Queens. The project is being developed in partnership with Hard Rock International and represents one of the most significant private investments in New York City’s sports and entertainment landscape in decades.
The approval follows a unanimous recommendation on December 1 from the Gaming Commission’s Facility Location Board—a key signal that the final decision was all but assured. Alongside Metropolitan Park, licenses were also awarded to Bally’s, which plans a $4 billion casino resort at Ferry Point in the Bronx, and Resorts World New York City, which will expand at the Aqueduct Racetrack in Queens.
A Major Transformation for Queens
Metropolitan Park aims to convert the vast surface parking lots surrounding Citi Field into a fully integrated sports, entertainment, and hospitality district. Current plans include:
- A full-scale casino and hotel
- Five acres of publicly accessible green space
- Playgrounds and community amenities
- A 5,000-seat indoor music venue
- A rebuilt transit hub
- A locally inspired food hall and retail offerings
For Cohen, the project is as much about placemaking as it is about gaming revenue.
“Since the day I bought the team, the community and Mets fans have made it clear to me that we can and should do better with the area around the ballpark,” Cohen said. “Now, we are going to be able to deliver the sports and entertainment district that our fans have been asking for.”
Timeline and Financial Commitments
Construction is expected to begin in early 2027, with a targeted June 2030 opening.
Each of the three approved casino projects will be required to:
- Pay a $500 million upfront licensing fee
- Commit at least $500 million in capital improvements
- Pay ongoing annual taxes on gaming revenue
In total, the Metropolitan Park project represents a powerful example of how large-scale real estate investment can reshape underutilized land, strengthen surrounding infrastructure, and create new economic engines for New York City.
As development moves forward, Metropolitan Park is poised to become a transformational anchor for Queens, redefining the area around Citi Field and reinforcing the borough’s role as a growing hub for entertainment, hospitality, and mixed-use development.
Adapted from Front Office Sports.
