New York
Related: About this forumCasino panel sets price tag
James M. Odato
Albany
New York's Gaming Commission on Monday set the minimum expenditure for building casino resorts at $135 million in the Capital Region a price tag that does not appear to be chasing away prospective bidders.
Indeed, minimum capital investment levels in the three zones where up to four casinos could be authorized came in lower than some bidding groups feared.
"They are reasonable," said James Featherstonhaugh, leader of Saratoga Harness Racing Inc. His group, which already operates a video gambling parlor at Saratoga Casino and Raceway, hopes to build larger casinos in two of the three zones.
His partnership wants a license for East Greenbush in Rensselaer County for a project he values at $350 million, and for Newburgh in Orange County for a $670 million development.
http://www.timesunion.com/local/article/Casino-panel-sets-price-tag-5472789.php