KUALA LUMPUR, Dec 18:
The much anticipated decision on the casino licenses of New York, where Genting Group has been bidding for two sites came to a conclusion overnight with a New York board recommending only three sites (instead of the four planned) for upstate casinos but rejected 13 others.
Here’s a look at the proposals:
– CATSKILLS AND MID-HUDSON RIVER VALLEY: Montreign Resort Casino, Sullivan County. By Empire Resorts. Investment: US$1.1 billion (RM3.85 billion) or less. Location: Thompson, on the grounds of the old Concord hotel.
Bidder has said the size and cost of the project would be dependent on the number and location of casino licenses issued. Empire operates through a subsidiary, the nearby Monticello Casino & Raceway.
– ALBANY-SARATOGA: Rivers Casino & Resort at Mohawk Harbor, Schenectady County. By Capital Region Gaming. Investment: US$300 million. Location: Schenectady.
The plan calls for more than 1,100 slot machines and a 150-room hotel to be built on a formerly blighted riverfront site.
– FINGER LAKES-SOUTHERN TIER: Lago Resort & Casino, Seneca County. By Wilmorite. Investment: US$425 million. Location: Tyre, in the Finger Lakes.
The developers say they hope to operate 85 table games and 2,000 slot machines. Lago is Italian for “lake.”
– Sterling Forest Resort, Orange County. By Genting Americas. Investment: US$1.5 billion. Location: Tuxedo in Orange County, 35 miles from the George Washington Bridge.
Sterling was the largest of the proposed projects. Genting Americas, a subsidiary of the Malaysia-based Genting Group, operates Resorts World Casino New York City.
– Caesars New York, Orange County. By Caesars Entertainment. Investment: US$880 million. Location: in Woodbury, near the Thruway exit and Woodbury Commons shopping centre. Site is a roughly 50-mile drive from New York City.
Project would include 300 luxury hotel rooms and 50 poker tables.
– Resorts World Hudson Valley, Orange County. By Genting Americas. Investment: US$830 million. Location: off Interstate 84, in Montgomery.
Genting said this project would be a good fit if the siting board decided to place a casino closer to a distressed area.
– The Live! Hotel and Casino, Orange County. By Cordish Companies and Penn National Gaming. Investment: US$750 million. Location: South Blooming Grove.
Applicant planned a 12-stoery hotel with more than 300 rooms and a gaming floor that would include 3,200 slot machines.
– Hudson Valley Casino & Resort, Orange County. By Saratoga Casino and Raceway and Rush Street Gaming. Investment: US$670 million. Location: Town of Newburgh.
Would include a 300-room hotel that could be expanded.
– Nevele Resort, Casino & Spa, Ulster County. By Nevele. Investment: US$640 million. Location: Wawarsing, at site of old Nevele hotel. T
he now-shuttered Nevele hotel has a distinctive nine-storey round tower of rooms, which would be retained. The Nevele is about a half-hour drive from the other two Catskills contenders.
– Mohegan Sun at The Concord, Sullivan County. By Concord Kiamesha LLC and Mohegan Gaming NY. Investment: US$550 million. Location: Thompson, on the grounds of the old Concord hotel.
Application promised a 252-room hotel and 52,000-square-foot gaming hall. Developer Louis Cappelli also was involved in the bid.