Genting Is a Malaysian Gaming Group and Energy Conglomerate
New York state is considering 22 different casino plans at present. Prospective developers must pay a $1 million fee to be considered for one of four possible casinos to be built in the coming years. Before ground is broken on the casinos, voters will have to approve a constitutional amendment which would allow private-owned casinos not located on Indian reservations.
Saratoga Casino Considering Newburgh or East Greenbush
Saratoga Casino and Raceway is considering two locations: Newburgh and East Greenbush. Plans for a resort in the town of Newburgh envision a $670 million casino. The development would be called the Hudson Valley Casino and Resort. Saratoga Casino and Raceway is the gaming group which presented the plan.
One casino has been authorized for the Catskills, one for the Albany-Saratoga regon, and one for the Southern Tier. Gaming companies from all over the world are vying to control the licenses for the proposed casinos.
Would be an “Economic Engine”
The Saratoga development, which was announced on Friday, would have a 500-room hotel and a 20,000 square foot retail space. The gaming facility would cover 70 acres of land and would be across from the Orange County Choppers store on Route 17K. The Saratoga Springs development group says the casino would serve as an “economic engine” for the region.
Construction on the casino is expected to create 2,400 jobs, while the finished casino would create 2,500 permanent jobs with benefits. These would include direct jobs at the casino and indirect jobs, as well.
Even nearby Dutchess County is likely to receive job benefits from such a project, said Cathy Maloney of the Dutchess County Economic Development Corporation. Maloney said, “I think the impact that we would see from the casinos in either Orange or Ulster or Sullivan is the potential for local vendors to sell their products to the casinos and also, depending how close they are, we’re going to see some jobs benefits. People are going to be commuting to those jobs.”
Caesars and Foxwoods Each Submitted Proposals
So far, Caesars Entertainment, Foxwoods, Empire Resorts, and Trading Cove New York have submitted proposals. The Caesars Entertainment plan calls for a $750 million development in Woodbury, which is only 50 miles outside of New York City. The development will include a hotel and entertainment complex, along with a casino.
Rivals among the casino petitioners say a gaming location in Woodbury would be bad news for the rest of the casino licensees, because Woodbury would soak up most New Yorkers and the upstate economies likely would not be helped much.
Upstate Developers Critical of Woodbury Plans
Michael Treanor, who proposed a casino where the old Nevele Resort in Ellenville once stood, said his plan is better for people all over the state. “Woodbury is a world away from Ellenville,” said Treaner. “We’re right on the border between upstate and downstate. It’s the perfect location.”
Empire Resorts in the Competition
Meanwhile, Empire Resorts wants to build a 70,000-square foot gambling floor alongside a 391-room hotel. Charles Degliomini, a spokesman for Empire Resorts, said his company’s development has been underway for three years. If approved, the Empire Resorts plan can move quickly.
With 22 different development plans under consideration, New York’s gaming leaders will see all sorts of ideas. Several counties have submitted their own bids, including some counties with multiple prospective plans. Orange, Sullivan, and Ulster counties are all possibilities. According to the Poughkeepsie Journal, the state plans to approve on facility in the mid-Hudson-Catskills region.
Orange County Executive Steven Neuhaus has several casino development plans to consider, but he is not taking sides at the moment. In a released statement, Neuhaus said that the county welcomes the interest from gaming groups, but he believes sustained economic growth from these plans is going to require due consideration and planning for transportation and infrastructure capacity, as well as community support.
Genting Might Increase New York Presence
Not all of the companies submitting proposals are American. Genting, a Malaysian enterprise, is a major gaming company worldwide. Genting has over $16 billion in assets spread through the tourism, resort, gaming, power generation, oil and gas, and plantations. Genting owns two casinos in Singapore, which are among the trendy new 21st century casino complexes, known for their sleek curved Asian architecture.
“Integrated resort” is now a catchphrase in the global gaming industry, in which a casino complex include not only a hotel and spa, but also a large entertainment complex, convention hall, and shopping area. Such developments are known to appeal to Asian high rollers, who have increasingly become important in the gambling industry.
