{"id":332,"date":"2025-09-05T15:57:30","date_gmt":"2025-09-05T15:57:30","guid":{"rendered":"http:\/\/www.chuckwardrealestate.com\/?p=332"},"modified":"2025-09-22T12:08:55","modified_gmt":"2025-09-22T12:08:55","slug":"coney-island-casino-will-sell-shares-to-locals-if-approved","status":"publish","type":"post","link":"http:\/\/www.chuckwardrealestate.com\/index.php\/2025\/09\/05\/coney-island-casino-will-sell-shares-to-locals-if-approved\/","title":{"rendered":"Coney Island Casino Will Sell Shares to Locals if Approved"},"content":{"rendered":"<ul>\n<li><strong>Companies behind The Coney casino project say they will sell shares to locals<\/strong><\/li>\n<li><strong>Offering will target Coney Island residents and require a minimum investment of just $100<\/strong><\/li>\n<li><strong>Backers also proposing $275 million in community, public safety spending<\/strong><\/li>\n<\/ul>\n<hr \/>\n<p>The entities behind The Coney, a $3 billion effort to bring a casino hotel to Coney Island, NY, announced a plan to sell shares in the project to local residents.<\/p>\n<figure id=\"attachment_320081\" aria-describedby=\"caption-attachment-320081\" data-style=\"width: 858px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" class=\"wp-image-320081 size-post-thumbnail-858xAUTO lazyload\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" alt=\"The Coney New York casino resort\" width=\"858\" height=\"572\" data-src=\"http:\/\/www.chuckwardrealestate.com\/wp-content\/uploads\/2025\/09\/download1-858x572-1.jpg\"><figcaption>An artist&#8217;s rendering of The Coney, a proposed $3 billion development targeting Brooklyn&#8217;s Coney Island. Backers of the project will sell shares to local investors if the venue is approved. (Image: The Coney)<\/figcaption><\/figure>\n<p>Global Gaming Solutions &#8212; the commercial entity of the Chickasaw Nation &#8212; Thor Equities, Saratoga Casino Holdings, and Legends said Thursday that if their bid for a downstate casino license is approved, they\u2019ll commence a share sale aimed at Coney Island residents, enabling investors to participate in profit-sharing <a href=\"https:\/\/www.casino.org\/news\/coney-island-community-board-committee-opposes-3b-casino\/\">from the gaming venue<\/a>.<\/p>\n<blockquote class=\"main-blockquote\">\n<p>Shares in the program will only be sold to families in Coney Island to ensure that the project\u2019s benefits stay local. In order to make the program accessible to Coney Island families, the minimum investment amount will be $100,\u201d according to a statement.<\/p>\n<\/blockquote>\n<p>That minimum investment size is far smaller than what\u2019s been pitched by <a href=\"https:\/\/www.casino.org\/news\/ballys-chicago-ipo-hits-sec-roadblock\/\">some other local casino<\/a> projects across the country. The Coney\u2019s backers said the proposal is compliant with Securities and Exchange Commission (SEC) regulations.<\/p>\n<h2>Coney Joins Other Casino Bidders Proposing Share Sales<\/h2>\n<p>There are eight proposals for three downstate casino permits in New York, confirming competition is fierce and that bidders need to find avenues for standing out in a positive fashion.<\/p>\n<div class=\"callout\">\n<p>Localized share sales, such as the one proposed by The Coney, are one way of accomplishing that objective. That playbook was deployed by Bally\u2019s in Chicago and in New York, and that operator is expected to attempt it again with its Bronx proposal. Likewise, Caesars Entertainment, real estate developer SL Green, and Roc Nation, the entertainment agency owned by <a href=\"https:\/\/www.casino.org\/news\/jay-z-hypes-times-square-casino-bid-with-caesars\/\">hip-hop mogul Jay-Z<\/a>, are expected to sell shares to New Yorkers in their Times Square casino if it\u2019s approved. The Times Square minimum investment is expected to be $500.<\/p>\n<\/div>\n<p>\u201cThe community is our most important stakeholder, so it just makes sense that Coney Island\u2019s working-class families, who have been neglected for decades, and whose unemployment rate is amongst the highest in the City, get an opportunity to buy into this project in a way that is affordable so that even more of the positive economic impact stays local,\u201d said Thor Equities Executive Vice President Peter McEneaney in the press release.<\/p>\n<h2>More Coney Casino Perks<\/h2>\n<p>The Coney reiterated a pledge for a <a href=\"https:\/\/www.casino.org\/news\/the-coney-casino-bid-pledges-200m-community-trust\/\">$200 million community trust<\/a> \u2013 funds that will be directed to economic mobility, workforce training, community grants, and enhancements to the Coney Island Boardwalk.<\/p>\n<p>The statement also included mention of $75 million in public safety funds that would benefit emergency medical services and the fire and police departments of New York.<\/p>\n<p>The post <a href=\"https:\/\/www.casino.org\/news\/coney-island-casino-will-sell-shares-to-locals-if-approved\/\">Coney Island Casino Will Sell Shares to Locals if Approved<\/a> appeared first on <a href=\"https:\/\/www.casino.org\/news\">Casino.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Companies behind The Coney casino project say they will sell shares to locals Offering will target Coney Island residents and require a minimum investment of just $100 Backers also proposing $275 million in community, public safety spending The entities behind The Coney, a $3 billion effort to bring a casino hotel to Coney Island, NY, announced a plan to sell [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"_links":{"self":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/332"}],"collection":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/comments?post=332"}],"version-history":[{"count":2,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/332\/revisions"}],"predecessor-version":[{"id":335,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/332\/revisions\/335"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/media\/334"}],"wp:attachment":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/media?parent=332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/categories?post=332"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/tags?post=332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}