Empire Resorts Inc, which has had a longstanding proposal to build a Las Vegas-style casino in the Catskills, last week announced an agreement with Concord Associates L. P. to relocate the existing Monticello Gaming and Raceway to a 160-acre parcel of land at the site of the historic Concord Hotel.
Empire Resorts had sought to build a full-scale casino adjacent to the current raceway in conjunction with the St. Regis Mohawk Tribe.
That land sits hundreds of miles away from traditional St. Regis tribal land, so the tribe and Empire Resorts have sought clearance from the federal government to take the land into trust.
Despite backing from local and state officials, including Gov. Eliot Spitzer, the federal Department of the Interior denied the tribe”™s application to take the land into trust, thus placing the casino project in limbo.
Now, a $700 million “Entertainment City,” which is expected to include a 100,000-square-foot gaming area, convention center, hotel, golf, retail stores, restaurants and various family entertainment activities, could be built at the site of the Concord Hotel in Monticello. Developer Louis Cappelli is an owner of the Concord, and also an Empire Resorts shareholder.
The 1.5-million-square foot facility has already received required zoning and final site plan approvals. The gaming floor would be built within the hotel, adjacent to a new 5/8th mile, state-of-the-art harness track.
Upon approval and completion of construction, the company expects to more than double Empire”™s current contribution to New York State to approximately $70 million per year, which goes to fund public education.
According to a report in The New York Times, The St. Regis Tribe opposes the move, fearing that Empire Resorts is abandoning plans to build a $600 million casino at the Raceway.
The paper reported that Empire said it would continue to work with the Mohawks on joint litigation strategy to overrule the federal government”™s decision. But Empire sent a letter to the tribe saying that it would end “predevelopment work” on the project, although the site would remain available for a “future St. Regis Mohawk gaming project.”
An Empire spokesman could not be reached for comment by press time.
In a prepared statement, Empire CEO David P. Hanlon said, “The local economy will get the boost it needs in terms of jobs and this project is expected to enhance the value of the company for our shareholders, who will finally be rewarded for their patience in waiting for the day when we can build a world-class resort and gaming complex in the Catskills.”
Empire and Concord senior management expressed the desire to work with federal, state, and local officials on a concerted effort to bring this project to fruition as soon as possible.
