New York, Oct. 1 -- A state-appointed Community Advisory Committee voted to advance Steve Cohen's $8 billion "Metropolitan Park" proposal for a casino and entertainment district on the parking lots surrounding the Mets' ballpark in Queens. The 6-0 vote moves one of New York's most closely watched development bids into the final round of the downstate casino competition, a high-stakes process that will award up to three licenses by year's end. For a market-based snapshot of the morning's proceedings, see a detailed market-side readout of the vote, which underscored how quickly the Queens bid has accumulated momentum once long-standing legal barriers began to fall.

The committee's endorsement is more than a ceremonial nod. Under the rules ...