New York board awards casino licenses

Based on the materials submitted, Montreign, Rivers and Lago collectively will create in total more than 3,600 direct jobs through combined capital investments of more than US$1.3 billion. Once operational and based on blended tax rates, the facilities anticipate generating US$212.4 million annually for education, statewide on top of existing state aid. In addition, each eligible region and host county/municipality will receive between US$ 8 million and US$10.3 million annually. 

The Board, which was tasked with selecting up to four proposals across the three eligible regions, approved recommending the three projects to the Commission at its final meeting in Albany. 

“We believe these destination gaming resort proposals are of the right scope, right size, right financing and in the right locales which should help New York State bring thousands of jobs and millions of dollars in economic development to long-distressed regions of the state,” said Board Chairman Kevin S. Law. “We were impressed by the strong interest in investing in Upstate New York and appreciate the effort, care, time and skill that each Applicant put forth throughout this process.” 

The Board determined that out of 16 applicants, Montreign, Rivers and Lago evidenced strong local support, will provide strong environments for workforces and are of the desired scope and quality to fulfill the intent of the Upstate New York Gaming and Economic Development Act of 2013  by bringing jobs and economic development to long-distressed regions of the state. 

Montreign Resort Casino, Thompson, Catskills/Hudson Valley Region:  Empire Resorts, Inc. proposed to develop the Montreign Resort Casino within a planned destination resort known as Adelaar in the Town of Thompson in Sullivan County. This gaming facility features an 18-story casino, hotel and entertainment complex featuring an 86,300 square-foot casino with 61 gaming tables, 2,150 slot machines, 391 hotel rooms and multiple dining and entertainment options, with several meeting spaces. The Adelaar development would also feature an indoor waterpark, hotel, an “entertainment village” with dining and retail outlets, a golf course and significant residential development. The proposed location in Sullivan County could maximize potential to revive a once-thriving resort destination area that has experienced a significant downturn and has a great need for economic development and well-paying jobs. Montreign has evidenced widespread local support. 

Rivers Casino & Resort at Mohawk Harbor, Schenectady, Capital Region:  Capital Region Gaming, LLC, on behalf of Neil Bluhm and The Galesi Group, proposed to develop the Rivers Casino & Resort at Mohawk Harbor on the Mohawk River in the City of Schenectady in Schenectady County. The facility would reside on a 60-acre waterfront location with a 50,000-square-foot casino featuring 1,150 slot machines and 66 gaming tables. 

Lago Resort & Casino, Tyre, Eastern Southern Tier/Finger Lakes Region:  Lago, a partnership of Wilmot Gaming, LLC and PGP Investors, proposes to develop the Lago Resort & Casino in the Town of Tyre in Seneca County. Lago’s facility would include a 94,000 square-foot casino with 2,000 slot machines and 85 gaming tables, 207 hotel rooms, multiple restaurants and lounges featuring local fare and a spa. Lago’s proposed total capital investment of US$ 425 million far exceeds the proposed capital investment of the other two applicants combined.