The Soloviev Group, in partnership with Mohegan, will offer eligible local residents an opportunity to become stakeholders in the proposed casino within the $11.2-billion Freedom Plaza project near the United Nations Secretariat in Midtown Manhattan. Up to 12% of any initial public equity raised for the proposed gaming facility will be designated for residents of New York City, provided the Soloviev/Mohegan partnership is awarded one of three downstate casino licenses for which bidding is expected to begin next month.
Soloviev and Mohegan also intend to provide investment allocations to eligible New York state and city employee-related pension funds. If Soloviev and Mohegan are awarded a gaming license, the capital raise would begin no earlier than 2027.
“Soloviev, in partnership with Mohegan, is committed to fostering prosperous long-term relationships with residents, community organizations, and businesses both locally and throughout New York,” said Michael Hershman, CEO of the Soloviev Group. “Our visionary Freedom Plaza project exemplifies these goals.”
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