Mets Proprietor Steve Cohen, Sands Speaking About Citi Subject On line casino


Posted on: October 29, 2021, 11:29h. 

Final up to date on: October 29, 2021, 01:56h.

New York Mets proprietor and hedge fund legend Steve Cohen is reportedly in discussions with Las Vegas Sands (NYSE:LVS) about bringing a on line casino to the Citi Subject space.

cohen sands
Mets proprietor Steve Cohen, proven right here, is rumored to be discussing a on line casino venture with Las Vegas Sands. It’d be positioned close to Citi Subject in Queens. (Picture: New York Put up)

The $900 million (over $1 billion in as we speak’s {dollars}) Citi Subject, the Mets’ house ballpark, is positioned within the borough of Queens. The talks between the Point72 Asset Administration founder and the most important US gaming firm by market worth are described as preliminary, based on Sportico, which broke the story earlier as we speak.

New York is within the early levels of contemplating on line casino gaming growth within the downstate area, together with a 3rd venue. The opposite two properties — MGM Resorts’ Empire Metropolis in Yonkers and Resorts World New York Metropolis (RWNY) in Queens — maintain two of the three licenses however should wait till 2023 to supply desk video games and sports activities wagering.

Steve thinks that Willets Level must be addressed long-term – it’s a multitude,” mentioned a Mets spokesperson, in an interview with Sportico. “He has been listening to plenty of concepts, and the Mets wish to be a part of these conversations to make sure the pursuits of our followers and the local people are well-represented.”

Citi Subject, positioned in Flushing Meadows-Corona Park, was inbuilt 2009 as a substitute for the close by Shea Stadium.

Lengthy-Working Sands/New York Rumors

Sands isn’t a brand new identify within the Huge Apple hypothesis, as the corporate has lengthy been rumored to be inquisitive about bringing an built-in resort to the most important US metropolis.

Whereas Manhattan is the popular borough of operators angling for a New York Metropolis gaming license, that’s all however off the desk at this level. Nevertheless, a gaming venue close to a serious sports activities facility might be enticing to any operator, together with Sands, which at present lacks publicity to the US.

Earlier this 12 months, the corporate introduced the sale of its Las Vegas property to Apollo World Administration and VICI Properties for $6.25 billion. Efforts to convey an built-in resort to Texas languished, as lawmakers in that state didn’t prioritize the difficulty in the latest legislative session. LVS has additionally been tied to hypothesis relating to the potential building of a gaming venue in Jacksonville, Florida. However that chatter died down in current months.

At present, LVS’s portfolio consists of the Marina Bay Sands in Singapore and 5 built-in resorts in Macau, the place the operator instructions the most important market share.

Cohen Ties, NYC Competitors

Beforehand, it was reported that Bally’s (NYSE:BALY) and Wynn Resorts (NASDAQ:WYNN) would vie with Sands for the third New York license. However these operators haven’t publicly commented on the matter, whereas LVS CEO Rob Goldstein confirmed to the New York Put up earlier this 12 months the corporate is taking a look at New York Metropolis.

As for Cohen and Sands, the 2 have some ties, albeit free. The late Sheldon Adelson, previously Sands chairman and chief govt officer, was as soon as rumored to be a possible investor within the Mets — a rumor which he finally refuted.

In the present day, Point72 Asset Administration — Cohen’s household workplace — holds name choices on LVS inventory. However it’s a small place and one in all greater than 1,000 held by the funding car.

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