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SARATOGA SPRINGS – Saratoga Casino and Raceway in Saratoga Springs will partner with Churchill Downs Inc. to compete for a license to build and operate a $300 million casino and resort in East Greenbush.

 

The owners of the Saratoga slot machine parlor and harness track have teamed up with the company that operates the Kentucky Derby, the first leg of thoroughbred horse racing's Triple Crown, to gain an edge as New York officials determine which entities will win the right to build and operate casinos in upstate.

 

The two racing organizations expect the proposed $300 million casino project to create 1,700 construction jobs and 1,700 permanent jobs.

 

 

The state will approve up to four casino licenses this fall in three upstate regions, including the Albany and Saratoga area. Casino developments have been announced, or are under consideration, in several Capital Region cities and towns including Albany, Amsterdam, Cobleskill, East Greenbush, Rensselaer and Schenectady.

Published in News
Friday, 25 April 2014 08:13

SCR’s Big Week

- $300 Million E. Greenbush Casino Bid 

- Planned $30 Million Local Expansion Submitted To State  

 

 

"When one door closes another door opens…”

 

SARATOGA SPRINGS – Never has the above expression been truer for Saratoga Casino and Raceway (SCR) than this week. 

 

In a dramatic announcement on Tuesday, April 22 that could prove to have extensive regional economic implications, SCR revealed plans for a $300 million world-class destination resort casino in the Thompson Hill area in the Town of East Greenbush. The Rensselaer County site has strategic proximity to Albany, the entire Capital Region and, via access to nearby interstate highways, the entire Northeast. 

 

At the same time, plans are proceeding with a local $30 million expansion on the SCR grounds. This plan had been originally announced on May 28, 2013 and had been billed as part of SCR’s necessary strategic development plans, regardless of the results of the outcome of an expanded gaming scenario on its grounds. These plans are proceeding at it’s own pace through the appropriate government agencies. 

 

Further, there are strong indications that SCR will file another application for a casino site in the Catskill Region, specifically around Newburgh and Route 17K. These plans were scheduled to be presented after press time to the Newburgh Town Board at a special meeting 7 p.m. Thursday at the Town of Newburgh courthouse. Readers are advised to look for an update at saratogatodayonline.com

 

But meanwhile, there is plenty that is known on the two pending projects that have been announced:

 

$30 Million Expansion in Saratoga Springs

 

A comprehensive site plan, complete with environmental impact statements and supporting documents has been filed with the New York State Gaming Commission. Locals who are interested in reviewing these documents can find a copy in the Planning office in Saratoga Springs City Hall. 

 

The notable highlights of this expansion plan includes: 

- A 120-room hotel with guest spa, indoor pool and lobby bar 

- A 24,000 square foot multi-purpose event center 

- A signature fine dining restaurant.

 

According to the summary provided by SCR officials “The expansion plans include the creation of 260 additional jobs at the facility, and an additional $9 million in annual payroll expenses, bringing the total number of employees to 900 and yearly payroll expenses to $27 million.”

 

“From the beginning, we have worked closely with our local leaders to drive increased tourism to our community and are excited to be able to use these plans to bring more focus to Saratoga as an international resort destination,” said Rita Cox, Senior Vice President of Marketing. “With these plans, we will be expanding our marketing efforts to attract visitors from areas outside the Capital District and throughout the entire Northeastern Region.”

 

Ultimately, approval of this project, or portions of it, rests with the state. The City of Saratoga Springs has been designated as an “involved agency,” in that they will need to provide extra water and sewer hookups and other services. So they can be described as having a “seat at the table,” if not ultimate decision-making authority. SCR had previously stated its intentions to have its plans reviewed by city land-use boards although they are not required to do so.

 

Next Steps: At some future point (expected to be soon) the Gaming Commission will start the clock on a 30-day “review period” in which the City Council, and through them, presumably other concerned parties may be heard. Mayor Joanne Yepsen has stated that she might call a special council meeting on this subject alone should the timing warrant it. 

 

There have been concerns expressed by downtown Saratoga Springs entities and other interests, including the Saratoga Springs City Center and Saratoga Performing Arts Center about the scope of the project in general and the multi-purpose event center particularly. 

 

According to SCR officials, given timely approvals the construction timeline anticipates work beginning in spring 2014 and the opening of the expansion project in spring 2015.

 

$300 Million Facility in East Greenbush

 

The bullet-point highlights of this project:

- 100,000 square foot overall destination resort casino development

- 300-room hotel

- 20,000 square feet of high-end retail

- Multiple entertainment venues including a nightclub, sports bar and showroom

- An estimated 1,700 construction jobs and an estimated 1,700 permanent jobs at the facility.

 

This does not even begin to include the spillover effects, ancillary businesses, hotels and enterprises throughout the adjacent area. If you need a visual, search out a picture of Kissimmee, Florida before and after Disney World arrived and you’ll get a general idea.

 

Next Steps: Many. The application-filing deadline is here. The review process begins, with an expectation that siting decisions will occur this fall.  

 

SCR bills their E. Greenbush casino proposal as a “game changer,” and if it comes to pass, there can be no doubt that it would be, on several levels. Of course, it is one of a few possible proposals in the Capital/Saratoga Region for a casino and only one will eventually be sited – at this time. This is also true in the Catskills area, which may be a more crowded application field.

 

"When one door closes another door opens; but we so often look so long and so regretfully upon the closed door, that we do not see the ones which open for us."

- Alexander Graham Bell

 

On second thought, never has this expression been less true for Saratoga Gaming and Raceway than on this week. 

Published in News

- Estimated $300 Million Project will be an Economic Game Changer, Creating Approximately 1,700 Permanent and 1,700 Construction Jobs

 

- Local Team of Experienced Gaming Operators to Lead World Class Casino Development at Thompson Hill 

 

EAST GREENBUSH – Saratoga Casino and Raceway today announced that it will propose a world-class destination resort casino at a site on Thompson Hill in East Greenbush, Rensselaer County. The company will also pay the mandatory applicant fee to the State today, solidifying its intent to bid for the Capital Region’s full commercial casino license. 

 

The estimated $300 million development will be an economic revival for the region, creating approximately 1,700 construction and 1,700 permanent good paying jobs with benefits, in addition to thousands of additional jobs in the community and region. 

 

Offering seamless access from I-90, the Casino will keep New York State gaming dollars within the state – instead of losing them to a proposed casino in Springfield, Massachusetts – and will draw Massachusetts residents to New York for its many recreational and tourism offerings. The project will truly reinvigorate the region, making it an exciting destination for visitors from near and far. 

 

"The Casino at East Greenbush is an absolute game changer for the Capital Region's economy and will become one of New York's premier destination spots for years to come," said Rita Cox, SVP of Marketing and External Affairs at Saratoga Casino and Raceway. "We have a team in place that has deep roots and the most experience in the Capital Region. And this project is situated on the best site to showcase the natural beauty and history of the Hudson River and Albany skyline." 

 

Led by a locally based team of trusted owners with a proven track record and decades of gaming experience, the Casino at East Greenbush will be the best project for the Capital Region’s long-term prosperity. The Casino will generate $35.5 million annually for the Capital Region and $11.4 million annually for the Town of East Greenbush and Rensselaer County. This funding will help local governments keep taxes down, stay below the tax cap and support local priorities. 

 

In addition, local partnerships will be a cornerstone of the project, including formal partnerships with local entertainment venues, businesses, community groups, educational institutions and non-profits. It will also create strong, long-term opportunities for minority- and women-owned businesses and veterans.

 

The 100,000 square foot Casino at East Greenbush will feature world-class gaming, dining and entertainment options, including: 

 

A 300-room resort style hotel;
A full complement of exciting dining options, including fine dining, casual dining and buffet;
Multiple entertainment venues, with a night club, sports bar and showroom;
20,000 square feet of high end retail; and
Convenient parking, with valet, plentiful covered parking and surface lots.

More details including renderings of the proposed facility will be in Friday's Saratoga TODAY

Published in News

By Arthur Gonick

Saratoga TODAY

 

SARATOGA SPRINGS – The Saratoga Casino and Raceway (SCR) has informed Saratoga Springs city officials today that they will be putting an application to seek a casino license in the Town of East Greenbush in Rensselaer County. 

 

An application fee of $1 million is due by the end of the month. The Saratoga Springs City Council had passed a resolution in March expressing several points of objection with the state law regarding expanded gaming. 

 

Mayor Joanne Yepsen’s office released the following statement: 

“Today we learned that the owners of Saratoga Casino and Raceway have finalized their decision to apply for an expanded casino license for a location outside of Saratoga County. 

 

“As the casino process moves forward in other areas, it is crucial we remember that the original intent of the Upstate New York Gaming Economic Development Act was to breathe new life into economically struggling regions of our state.  Here in Saratoga Springs, we are fortunate to have a wonderful community that features a thriving downtown, successful City Center, two horse race tracks and a wealth of natural beauty and cultural assets. It's clear that the Saratoga Casino and Raceway owners feel that Saratoga Springs does not meet the economic criteria set forth by our state legislators in the bill that passed and recognized that the majority of our citizens expressed their opposition to a full casino resort in our city. 

 

“We look forward to working constructively with them and the New York Gaming Commission as the city considers their $30 million proposed expansion. Saratogians should have a say in this project just as every other important project within the city.” 

 

Attempts to reach Rita Cox, Vice President of Marketing at SCR were unsuccessful, although it is expected that SCR will issue a statement and this posting will be updated.

 

Sara Boivin, a steering committee member of SAVE Saratoga, which had opposed any sort of expanded gaming in the city made this statement: “SAVE Saratoga is cautiously optimistic at this point. If we are successful (in preventing expanded gaming in the city) it will be because of the people of Saratoga Springs and how hard they worked. We are also grateful for the efforts of the city council in representing its citizens.”

 

Charlie Samuels, a member of the anti-expanded gaming group Saratoga 58% said “I can assure you that the majority of Saratoga Springs residents are very relieved that a casino will almost surely not be sited here. I am very encouraged by today’s news but (SCR) is not the only company in the world who may want to build a casino here so we are not celebrating yet.”

 

 

Finance Commissioner Michele Madigan confirmed that she had been contacted officially by a member of Destination Saratoga, a group that is at the forefront of support for expanded gaming at SCR. She also noted that “we’ll have to see how this plays out as far as the fiscal impact goes; once we see who and where the regional casino is placed we can estimate and analyze based on that. There was going to be an impact whether a casino was placed in the city or outside it.”

 

Published in News

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