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On Wednesday, Bally’s Corporation announced a community benefits agreement for the project that pledges to provide more than $200 million in community investment. The gaming giant says the Bronx casino will also provide 15,000 construction jobs and more than 4,000 permanent jobs for local residents. The Empire City Casino, which is 15 miles from Times Square, has attributes similar to those of Resorts World and operates thousands of slot machines.

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Licenses will be good for a minimum of 10 years and a maximum of 30 years. Without question, the three winning bids will have the potential to reshape the socioeconomic landscape of the New York City metro area. “Neither the arena nor the casino gambling are yet in the cards (in Irving), and it does not appear that the Texas Legislature, particularly the Texas Senate, is going to approve casino gambling this year. So, they’re just getting the conversation started that might go on for years,” Jillson said. Get top local stories in DFW delivered to you every morning with NBC DFW’s News Headlines newsletter.

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The casino would be upscale and would be part of the newly created district that has been developed by the Related Companies that consists of office towers, high-end stores and luxury apartments. The company aims to create a Monte Carlo-style casino that will attract wealthy tourists from around the world. According to reports, SL Green has also pledged to use a portion of the casino’s revenues to fund safety and sanitation improvements in Times Square. Their role is to gauge the interest of the community and make a recommendation. At least four of the six committee members must approve of the plan for it to move forward.

Still, The Coney project has had a difficult time winning over local residents. In January, local Community Board 13 recommended denial of the application, with residents skeptical that Thor Equities would come through with its promises of $200 million in community investment. Rolled out last June, the plan also includes $250 million in community reinvestment to support businesses and groups in Midtown and nearby Hell’s Kitchen. Both Resorts World NYC and MGM Empire city are likely to have little community resistance, pundits say, and would be able to convert to a full casino relatively quickly. Furthermore, they have the infrastructure needed for expansion, with parking and access to highways.

The structure, dubbed “The Coney”, would feature a new hotel just steps from the iconic boardwalk. The company struck a deal with the Trump Organization to take 17 acres of the 300-acre property that adorns the Trump name. The city owns the property, and Trump’s company had a 20-year contract with the Parks Department to operate it as a golf course. Cohen has held meetings, including two visioning sessions, with the public to solicit feedback as to what to incorporate in his plans. According to Soloviev, the overall project is being dubbed “Freedom Plaza,” and it would also include the construction of a museum dedicated to democracy.