Albany reaches tentative casino deal with East Greenbush team

[hrmjustin]

Jordan Carleo-Evangelist


ALBANY — The city of Albany has reached a tentative deal under which a partner behind the proposed East Greenbush casino would pay $1 million annually to the city's economic development arm, the Capitalize Albany Corp., for a decade, according to people briefed on the deal.

The deal would also include an up-front $1 million payment to the nonprofit local development corporation for "community development," according to terms expected to be released at 5 p.m. Wednesday.
http://www.timesunion.com/local/article/Albany-reaches-tentative-casino-deal-with-East-5716323.php?utm_source=dlvr.it&utm_medium=twitter

[ChairmanAgnostic]

1. in exchange for what?

major cut in taxes?

Casinos are a money loser. They destroy communities, they drive out normal businesses from the area, and they are a canker sore on society. and I don't even care one way or another about gambling. But I see what Joliet's casino is doing the the downtown area (yes, it was seedy and the courthouse is the only really busy building) and it ain't purdy.

[hrmjustin]

4. This is a waste of money.

[Hoppy]

2. Casinos?

Ask Atlantic City how that worked out for them. Add to that the amount of state money Gov. Krispy pledged to complete the building of the Revel which is closing its doors on Monday.... bankrupt.

[hrmjustin]

3. This is a bad idea.

[ChairmanAgnostic]

5. Follow the money

There lies the answer.

[hrmjustin]

6. Agreed! People will make money but it is not the regular citizens of this state.

[hrmjustin]

7. City of Albany gets revenue sharing commitment from Capital View Casino

http://www.troyrecord.com/lifestyle/20140828/city-of-albany-gets-revenue-sharing-commitment-from-capital-view-casino