The One About Citi Casino & Leading Managers

CASINO NEWS

Steve Cohen’s Casino Dream Hits a Roadblock: What’s Next?

Here's what you'll learn: Discover why Steve Cohen’s ambitious casino project at Citi Field faces major challenges, the role of State Senator Jessica Ramos, and what this means for the future of the project.

The Big Dream

Steve Cohen, the owner of the New York Mets, has big plans for Citi Field. He wants to transform the parking lot into a grand casino, aiming to bring new entertainment and jobs to the area.

But things aren't going smoothly.

The Key Obstacle: Jessica Ramos

State Senator Jessica Ramos has become a significant roadblock. Representing the district where Citi Field is located, she has made it clear that most of her constituents are against the casino. Ramos stated, “Seventy-five percent of my constituents have expressed that they do not wish to have a casino in our backyard.”

This strong opposition makes it difficult for Cohen to move forward.

The Legislative Hurdle

To build the casino, Cohen needs the land around Citi Field to be redesignated from parkland to commercial use. This change requires legislation, which Ramos is unwilling to introduce.

Without this critical step, the project cannot proceed.

The Stakes

Cohen and his partner, Hard Rock, are among 11 groups competing for three available gaming licenses in New York City. Winning one of these licenses could be incredibly lucrative, but the process is highly competitive.

Community Concerns

Ramos and many locals are worried that a casino would extract wealth from the community rather than help build it. They prefer development projects that create long-term benefits without the social costs associated with gambling.

The Battle Ahead

Cohen’s team plans to continue their efforts despite Ramos's opposition. They believe that the project, called Metropolitan Park, has broad support from other officials, unions, and parts of the local community. “We have over a year and multiple pathways to secure the required approvals,” said Karl Rickett, Cohen’s spokesperson.

Learning Points

• Community Engagement: Understanding and addressing community concerns is crucial for large projects.

• Legislative Strategy: The importance of having legislative backing for land use changes.

• Persistence in Business: Even when facing significant setbacks, it’s essential to keep exploring alternative paths.

Conclusion

Steve Cohen’s vision for a casino at Citi Field is facing serious hurdles. With strong opposition from State Senator Jessica Ramos and the local community, the future of the project remains uncertain. However, Cohen’s persistence and strategic planning will determine if this dream can eventually become a reality.

Stay updated on this evolving story and learn more about how business leaders navigate complex challenges by subscribing to our newsletter!

Until next time,

Johnny B.

LEADERSHIP

Here's What You'll Learn:

• The difference between leadership and management.

• Why innovation and adaptability are crucial for success.

• How to take responsibility and make effective decisions.

Leadership vs. Management:

Welcome! Today, we’re diving into the fascinating world of leadership and management. Ever wonder why some organizations thrive while others struggle despite hard work? It’s all about understanding the difference between managing and leading.

Traditional management includes consistent repetitive efforts gradually making a mark. But let’s switch gears and head to Italy, where a bike racer discovered that innovation and playing by new rules can lead to victory. This story highlights how sticking to the same old methods might not always be the best approach.

Innovation Over Repetition:

In bike racing, as in business, doing the same thing repeatedly doesn’t guarantee success. Sometimes, thinking differently – like using aerodynamics strategically – can make all the difference. This idea brings us to the heart of our discussion: leadership vs. management.

Leadership and Management Are Different:

Management is about control and efficiency, tracing back to Henry Ford’s assembly line and scientific management. It’s about creating systems where tasks are performed consistently and efficiently. Think of McDonald's: every outlet operates the same way, ensuring predictability and quality.

However, when the world changes, this rigid management often fails. For instance, traditional newspaper publishing and travel agencies couldn’t adapt quickly enough to digital transformations. As self-driving cars emerge, truck drivers face similar challenges. In a rapidly changing world, we need leadership – the ability to guide and inspire – rather than just management.

Responsibility vs. Authority:

Here’s a crucial distinction: managers seek authority to tell others what to do. Leaders, on the other hand, take responsibility. Consider the great conductor Arturo Toscanini, known for his authoritative style. Contrast that with Ben Zander, a conductor who recorded Beethoven’s Fifth Symphony as it was originally written – fast and energetic. Despite lacking formal authority, Zander took responsibility for his interpretation, embodying true leadership.

Real Skills Over Soft Skills:

What are we really looking for in leaders? Skills like empathy, creativity, and resilience – often mislabeled as “soft skills” but more accurately described as “real skills.” These are the attitudes that can be developed and taught, crucial for effective leadership.

Decision-Making and the Role of Sunk Costs:

Leadership involves making tough decisions and understanding that good decisions don’t always lead to good outcomes. Annie Duke, a renowned poker player, emphasizes separating decisions from outcomes. Also, beware of sunk costs – past investments that shouldn’t dictate current choices. Holding onto these can prevent innovation and growth.

The Importance of Quitting:

Yes, quitting can be a smart move. It’s essential to recognize when a project isn’t worth the effort and resources. Successful leaders know when to persevere and when to pivot.

Empathy in Action:

Effective leadership also means understanding and empathizing with others. Whether it’s J.K. Rowling writing for 12-year-olds or John Wooden coaching basketball players, empathy allows leaders to connect and inspire.

Process Over Perfection:

Finally, embrace a process-oriented mindset. Bill Atkinson, a pioneer in graphical computing, succeeded not because he had all the answers but because he believed in the process. Leaders focus on continuous improvement and adaptability.

Conclusion:

Leadership is about taking responsibility, making thoughtful decisions, and embracing change. By developing real skills and fostering empathy, we can lead our teams through uncertainty and towards success.

Reflect on your own leadership style. Are you managing or leading?

What steps can you take to embrace innovation and responsibility in your role?

Share your thoughts and join the conversation!

Cheers,

Johnny B.