$700 Million Gambling Complex Coming To Catskill Mountains

The Catskill Mountains used to be one of the biggest tourist destinations in the world. Their hotel resorts were known for their grand style.

The area is now planning for a revival. On Monday, plans were released for a $700 million gambling complex in the Mountains. It will be created by private developers.

The Concord Hotel will be the place of the relocation of Monticello Gaming and Raceway, owned by Empire Resorts. The casino would have slot machines. Harness racing would also be available at the establishment.

Not much opposition is being waged against the proposal. The state Racing and Wagering Board is the only hurdle that must be cleared for the project to move forward. They would need approve the project.

The revenue that will be generated by the new project is expected to be double what Empire is currently paying per year to the state. Currently, $70 million a year is being paid.

The harness track is going to rival the best in the country when it is completed. The casino floor would be inside the hotel. The whole project will equal a total of 1.5 million square foot for the project.

"The creation of thousands of jobs will permeate throughout the entire upstate economy and bring the formed Concord Hotel back to its glory as one of the region's truly great convention, destination and resort hotels," said Concord Associates managing member, Louis R.Cappelli.

February 11, 2008
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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