State expects developers to make "minimum" investments in casinos of as much as $350 million
GLENN BLAIN
Developing a casino in New York is not going to be cheap.
State gaming officials on Monday released the minimal capital investments expected of casino developers looking to obtain one New York’s prized gaming licenses. They range from a low of $70 million for developers looking to build in the Southern Tier regions of Wayne and Seneca counties to $350 million in the much sought after areas of Dutchess and Orange counties.
The minimal investments, according to gaming officials, account for an estimated 65% of the total money developers are expected to spend and include the cost of the casino, at least one hotel on the site and other amenities. The figures were computed based on casino development data from other states and from Native American gaming facilities in New York.
Read more: http://www.nydailynews.com/blogs/dailypolitics/state-expects-developers-minimum-investments-casinos-350-million-blog-entry-1.1788999#ixzz31WRUfhUw
