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Thor Equity, along with its partners Saratoga Casino Holdings, Chicaso Nation, and Legend, announced a refined vision for the ambitious casino project in Coney Island, Brooklyn, which is now simply branded as Coney. The $3 billion development plan promises an inclusive entertainment and service hub beyond traditional games. However, the project has faced significant backlash from locals who are worried about its long-term effects.

New Updates to Attract Locals
First introduced in March 2023, the proposal was updated to include a 500-room hotel, 2,500-seat concert venue, 70,000 square feet of retail space, and 90,000 square feet of conference and event facilities. This multifaceted development aims to revitalize the area while providing a vibrant, year-round destination for locals and visitors.

Sam Gerity, CEO of Saratoga Casino Holdings, one of the consortium's companies behind the project, was adamant that the planned casino resort would provide significant benefits, create careers, support local businesses, and attract more visitors with expanded entertainment options. He was confident that The Connie would positively impact the region and improve the daily lives of the locals.

The casino resort's newly updated renders reveal Thor Equities' vision for a five-acre site between Stillwell Avenue, West 12th Street, and Wonder Wheel Way. The design aims to seamlessly integrate with Coney Island's historical and cultural structure, enhancing its appeal as a top entertainment destination. However, the project must overcome fierce competition in the fight for limited licenses.

a project facing fierce competition
Thor Equity and its partners continue to improve their plans and work with the community as they await further guidance from the New York State Gaming Commission on specific requirements for obtaining Downstate casino permits. The collaboration with Saratoga Casino Holdings, Chikaso Nation and Legend reflects a strategic alliance that leverages combined expertise to create innovative projects.

Despite the consortium's efforts, locals were less enthusiastic about the casino resort. In 2023, community leaders overwhelmingly voted against the ambitious project as they expressed concerns about the long-term impact on struggling communities. Opponents argue that casinos threaten to transform Coney Island into another Atlantic city, pushing all negative elements of the gambling industry into a struggling region.

While The Connie struggles to win approval from locals, competing projects threaten to outpace it in the fight for limited casino slots. Giant industries such as Wynn Resorts, Caesars Entertainment, and Resort World have proposed alternative projects, hoping to be included in the final decision of The New York Gaming Facility Location Board, which is expected next year.