Stefan Soloviev’s combative father died in 2020. Now he’s charting his own course, including with an audacious plan to cash in on gambling.
Armed with a massive war chest from his late father—the pugnacious billionaire Sheldon Solow—is vying to carve his own name into the brutal business of New York City real estate.
The planned site, near the United Nations on the east side of Manhattan, “is the best location that anyone in Manhattan has by far,” Soloviev told The Daily Beast, swaggering the way developers do. Proposals from other parties, including in Times Square, Coney Island, and billionaire Stephen Ross’ Hudson Yards, are also on the table, with others surely to come.Marc Edelman, an expert in gaming law at the Zicklin School of Business at Baruch College, said the state’s decision may simply hinge on which sites will generate the most tax revenue. He also expressed doubt that neighborhoods near the U.N. could handle a massive influx of crowds.
John Wolohan, professor of sports law at Syracuse University, was slightly more optimistic. While he called Manhattan a “hard pitch,” owing in part to high land costs, he noted that a casino “could be seen as a golden opportunity to bring more people to the city” in the wake of the pandemic.
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