Steve Cohen Wins Approval for One of Three New Casinos in New York City

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• 00:03

  Matt's owner and billionaire investor Steve Cohen wins approval for one of the three new casinos in New York City.

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  Plus,

• 00:11

  this North Carolina village is where some of America's richest people go to fly under the radar.

• 00:17

  Cashiers only has 825 year-round residents,

• 00:21

  and so to have four billionaires and to have this influx of wealth over the summer is just incredibly stark.

• 00:26

  And?

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  Goldman Sachs is buying a company that specializes in ETFs known as Boomer Candy.

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  It's Monday, December 1st.

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  I'm Sabrina Siddiqi for The Wall Street Journal.

• 00:38

  This is the PM edition of What's News,

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  the top headlines and business stories that move the world today.

• 00:48

  A years-long effort to bring casinos to New York City resulted in state approvals for three in the city today.

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  A gaming commission has approved bids from Mets owner Steve Cohen and two other developers,

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  opening the door to high-end gambling venues in a city that has long restricted them.

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  Cohen, the billionaire investor and the entertainment company Hard Rock,

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  want their casino beside the Mets city field in Queens.

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  Their $8 billion plan includes a hotel, an amphitheater,

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  and 25 acres of green space by a future soccer stadium.

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  Also approved were Bali's $4 billion project that would be next to its Bronx golf course and a $5.5 billion plan from Malaysia's Genting Group to turn its queen's slots operation into a full-fledged casino.

• 01:33

  The state will collect a license fee of at least $500 million from each recipient and the casino backers have said they'll lead to good jobs and boost tax revenue.

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