Cohen shares rise 11.65% intraday after New York Gaming Commission approves casino license for Queens project with Hard Rock.

Cohen's stock surged 11.65% intraday following the New York State Gaming Commission's preliminary approval of his $8 billion casino project, Metropolitan Park, adjacent to Citi Field in Queens. The decision cleared a major regulatory hurdle, positioning Cohen and Hard Rock International to develop a full-scale casino, hotel, and entertainment complex projected to generate $3.9 billion annually in revenue. The approval aligns with Cohen's broader efforts to revitalize the area, including $116.2 million in charitable donations and 20,000+ job commitments, enhancing his reputation post-SAC Capital scandal. The move also solidifies his status as a key player in New York's gaming expansion, with final licensing expected by year-end.