EXCLUSIVE: Soloviev CEO pitches plan to turn everyday New Yorkers into partial owners of proposed casino
In an exclusive interview with News 12’s Senior Reporter Tara Rosenblum, Soloviev Group CEO Michael Hershman suggested a bold strategy: making community equity a cornerstone.
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The yearslong battle for one of just three coveted downstate casino licenses in New York state is entering its final stretch. After repeated delays, the state’s Gaming Commission is now expected to open the formal application window next month.
In an exclusive interview with News 12’s Senior Reporter Tara Rosenblum, Soloviev Group CEO Michael Hershman suggested a bold strategy: making community equity a cornerstone.
Hershman says if the proposed Freedom Plaza casino is approved, eligible Manhattan residents could own a piece of it.
He says up to 12% of the public equity offering would be reserved for everyday New Yorkers. It’s part of a sweeping proposal that also includes affordable housing, hotels and a waterfront park.
"It’s for New Yorkers, so we thought why not give New Yorkers an actual piece of the action,” he says. “We want them to be like we are -- owners!”
But the plan isn’t the only one in play. At least nine other proposals are still in play.
All the remaining proposals must be filed by June 27.
The final decision won’t come until December when the Gaming Facility Location Board is expected to choose the winners.
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