Tuesday, December 16, 2014

Capital Region Casino Decision Coming Wednesday in Albany

The five-member Gaming Facility Location Board will make their announcement Wednesday (tomorrow) regarding the decision on up to four casino sites in three regions of New York State. There were 17 applicants statewide.

One of the projects is slated for the Capital Region. Summaries of the proposals are below. Also, be sure to check out troyrecord.com for up-to-the-minute information when the decision is announced after 2 p.m. at Meeting Room 6 of the Empire State Plaza.

(rendering of Capital View)

Capital View Casino and Resort, East Greenbush (a.k.a. Casino at East Greenbush)

Location: Thompson Hill off Interstate 90 Exit 9

Jobs: 1,700 construction, 1,700 permanent (estimated $39.2 million annually in wages paid to local residents)

Square feet: 70,000 for main gaming area, casino and amenities will occupy a total of 174,000 and nearly 270,000 with the hotel

Hotel rooms: 100

Entertainment: 56 gaming tables, 1,500 slot machines, dining, retail

Investment: $327 million

Revenue: Estimated $22.8 million for location governments ($5.7 million for East Greenbush, $5.7 million for Rensselaer county, $11.7 million for nearby counties), estimated $800,000 in annual sales tax revenue, $11 million for city of Albany

Involved Parties: Saratoga Casino & Raceway and Churchill Downs

County vote on November casino referendum: 18,386 yes, 17,443 no (majority in favor in Rensselaer County)

Hard Rock Cafe Hotel & Casino

Location: DeLaet’s Landing along Hudson River

Jobs: 967 direct construction, 393 indirect construction, 900 permanent

Acres: 25

Hotel rooms: 100

Entertainment: Live music, Hard Rock Cafe restaurant, 50 casino table games, 1,500 slot machines

Investment: $280 million

Revenue: $260 million total from gaming, (city of Rensselaer will get $5.7 million annually and county of Rensselaer will get $5.7 million), $11 million to city of Albany

Involved Parties: Hard Rock, Capital OTB and Global Gaming/Chickasaw Indian Nation; name of applicant was NYS Funding

County vote on November casino referendum: 18,386 yes, 17,443 no (majority in favor in Rensselaer County)

Howe Caverns Resort and Casino

Location: Off Interstate 88, adjacent to current Howe Caverns site

Jobs: 3,000 construction, 1,700 permanent

Acres: Up to 330

Square feet: 400,000 square feet for gaming facility, not including water park

Hotel: 10-floor hotel with waterpark and second hotel; both hotels with 250 rooms and three restaurants at each location

Entertainment: Casino, dinosaur theater, arcade/kids area called KidsQuest, convention center, and indoor/outdoor waterpark hotel, indoor waterpark is about 80,000 square feet and outdoor park is 1.5 acres

Investment: $350 million to $400 million

Revenue: A fund, starting with $1 million, will be created to promote local tourism and will add 2.5 percent from the resort annually

Involved Parties: Michael J. Malik Sr. and Full House Resorts Inc.

County vote on November casino referendum: 4,672 yes, 4,417 no (majority in favor in Schoharie County)

(Rivers Casino rendering in Schenectady)

Rivers Casino & Resort at Mohawk Harbor, Schenectady

Location: Eric Boulevard along Mohawk River

Jobs: 1,250 permanent jobs

Acres: About 25

Square feet: Approximately 50,000-square-foot gaming floor

Hotel: 275 rooms over two hotels on site, one attached to the casino with 150 rooms and another at Mohawk Harbor

Entertainment: Sports lounge, steakhouse, marketplace food venue, banquet facility, day spa, walking/biking trails on riverfront

Investment: $330 million investment for casino, $150 million in adjoining mixed-use Mohawk Harbor for $450 million private investment

Revenue: $223 million in annual gaming revenue, projected $82 million in annual gaming taxes and fees ($4.1 million to city of Schenectady, $4.1 million to county, $8.1 million annually to surrounding counties, and $6.7 million through property tax, sales tax, and hotel tax)

Involved Parties: Galesi Group and Chicago-based Rush Street Gaming

County vote on November casino referendum: 13,767 yes, 16,316 no (majority opposed in Schenectady County)

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