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Home/Soloviev partners with Mohegan on New York casino project
Soloviev partners with Mohegan on New York casino project
The Mohegan Group (formerly known as Mohegan Gaming & Entertainment) is the casino operator owned by the Mohegan tribe of Connecticut.
It operates the Resorts Casino Hotel in Atlantic City and the Mohegan Casino at Virgin Hotels Las Vegas.
He has just joined the hotel-casino project in New York carried by the billionaire Stefan Soloviev.
Freedom Plaza imagined in Manhattan near the UN
Aged 47, Stefan Soloviev inherited a very large portion of his wealth after the death of his father Sheldon Solow during the year 2020. At present, his fortune is estimated at $4.4 billion. In addition, he owns more than 200,000 acres of land in the United States.
Last November, this businessman presented a project for a hotel-casino in New York. Called Freedom Plaza, it is planned to be built on a vacant lot of about 2 hectares located in Manhattan between 38th and 41st streets east of First Avenue near the UN building.
Within it, it should house 2 residential towers, a luxury hotel with 1,000 rooms or suites, the world’s first museum of democracy and a Ferris wheel overlooking the East River.
In addition, the complex would also feature a huge gaming hall with plenty of slot machines and traditional gaming tables.
Mohegan: a partner of choice according to Stefan Soloviev
It is precisely to operate this casino part that the billionaire Stefan Soloviev approached Mohegan. According to him, this tribal operator is the best possible partner for this project. Indeed, it is known to be socially responsible and always operates its gaming complexes in a sustainable and carbon neutral way.
Thus, this strategic agreement ensures that Freedom Plaza will be developed in an ethical manner.
In addition, Mohegan has a proven track record in casino management. It would therefore offer long-term economic prosperity for the local community by boosting regional, national and international tourism.
The project’s key competitive advantages
The state of New York allowed the creation of land-based casinos in its territory in 2013. Initially, there were only 4 gaming complexes that appeared in the north so as to give them some time to establish themselves. In fact, it was planned from the start that 3 more establishments would be built 10 years later in the south where New York City is located. A call for tenders for the delivery of these 3 famous licenses has been launched recently.
Of course, the project carried by Stefan Soloviev is not the only one to have been presented. Others are carried by very big names in the sector such as Las Vegas Sands or Caesars Entertainment among others. Nevertheless, the one we are interested in today has a few assets to put forward.
Unlike many other projects, it could be built with minimal disruption. Moreover, it is the only one for the moment to contain an educational element in favor of the museum of democracy.
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