Steve Cohen, the owner of the New York Mets MLB franchise, has plans to construct a new casino next to the team’s home stadium, Citi Field. Cohen hopes that the new property would attract more people to the area. The move would mirror other franchises’ efforts to attract people to their stadiums.
During Sportico’s recent Invest in Sports conference, Cohen regretted the lack of activities around Citi Field. He jokingly said that the only thing people can do around is “get their hubcap changed or maybe get back a catalytic converter.” He described the area as “50 acres of cement.”
According to Cohen, the new casino would provide NY Mets fans with something to do before the game or after the game, increasing interest in the area.
The MLB franchise owner also noted that his team will no longer “invest in ballparks” and will instead try to create experience sports fans actually care about.
I have tons of ideas I want to implement. You can’t spend an unlimited amount of money, so you’ve got to budget. And also, dealing with the underinvestment that I had to deal with coming in. I call it the money pit.
Steve Cohen, owner, NY Mets
The owner concluded that Citi Field is an “unpolished gem” that he hopes to turn around.
Cohen’s casino proposal isn’t the first time someone has tried to develop the area around Citi Field. A year ago, NY Mayor Eric Adams unveiled plans for an adjacent MLB stadium.
Cohens’ proposal comes as the race for NY’s three casino licenses rages on.
Cohen Is Passionate about Investing in the Mets
Cohen purchased the NY Mets from the Wilpon and Katz families back in 2021, prior to the start of the MLB season. The deal cost the businessmen a staggering $2.4 billion.
Despite the significant investment, Cohen revealed that he enjoys being a team owner to the point where he would consider buying another team. However, the businessman prefers to get the NY Mets right first before considering another such investment.
Cohen said that his job as a team owner has been much more satisfying than his hedge fund ventures because people now actually “care about him.”
Meanwhile, Cohen continues his search for a chief executive officer of the Mets. He said that many of the candidates seem nice at first but fail to impress him once he meets them a second time.
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