|Casino operator Empire Resorts has announced plans to relocate its Monticello Gaming and Raceway development to the site of a former grand hotel in the Catskill Mountains of upstate New York.|
The Catskills used to be one of the biggest tourist destinations in the world featuring hotels and resorts known for their luxurious style. Empire’s $700 million development is to be built on the 160-acre site of the former Concord Hotel by private developers and open by 2010 featuring slot machines and harness racing.
Not much opposition is being waged against the proposal with the state Racing and Wagering Board the only hurdle remaining to be cleared. Empire estimates that revenues are expected to be double the $70 million it currently pays to the state each year.
'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 Louis Cappelli, Managing Member for Concord Associates, the site’s current owners.
'This is an exciting opportunity for the Catskills and it has the potential to serve as a foundation for economic growth in the region,” said Maurice Hinchey, the US Representative for the area.
“I look forward to working with the community and developers to realize this exciting potential.'