On March 30, 2016, Montreign Operating Company, LLC (“Montreign”), a wholly-owned subsidiary of Empire Resorts Inc. (NASDAQ-GM:NYNY) (“Empire” and, together with its subsidiaries the “Company”), submitted payment for its gaming facility license in the amount of $51 million to the New York State Gaming Commission (“NYSGC”). Continue reading
The license required to obtain financing for construction of the Montreign Resort Casino at Adelaar was granted by the NYS Gaming Commission.
The casino, according to the law that legalized gaming, clearly states it must be up and running in two years.
Today truly marks the beginning of a new era for Sullivan County. At long last the quest for class three gaming has moved one step closer to realization. A single casino license for region one awarded in Sullivan County is at the very least what needs to happen to realize the intent of the legislation passed last November by a referendum of the voters of New York State. Today Sullivan County takes another step in the journey to the promise of what can be done through this extraordinary opportunity. Throughout this entire process Sullivan County remained consistent and forthright with our message and I cannot express in words how gratified I am that the process stayed as true and as forthright as that message. Although we are disappointed with the exclusion of Mohegan Sun at the Concord for the possibility for a second license we are pleased with this result. It has been a long 40 plus year journey for the residents and businesses of Sullivan County and to to move this much closer to what we have always believed is our destiny is thrilling. I am certain that we will achieve all that we knew we could with the benefit of class three gaming at the site of the former Concord Hotel Resort.
Kudos and thanks to Chairman Kevin Law and the Location Board, Rob Williams and the Gaming Commission, Assemblywoman Aileen Gunther, Assemblyman Gary Pretlow, State Senator John Bonacic and most of all Governor Andrew Cuomo for moving us closer to this reality. Without Governor Cuomo’s forethought, tenacity and commitment, this outcome would never have been possible. This group of able leaders remained steadfast in the process, recognized the spirit and intent of the legislation and understand that a license awarded to Montreign/Adelaar will truly benefit Sullivan County, the Catskills/Hudson Valley and upstate regions and all of New York State. I believe that this scenario will start the trend of people in the metropolitan region and worldwide vacationing and visiting upstate New York once again, as they did for generations. It will revive a long dormant tourism and hospitality industry and completely revitalize the economic future of the entire upstate region.
By choosing Montreign/Adelaar at this juncture, the Governor and the Gaming Commission have recognized the best possible outcome for this process. Montreign and Adelaar are significant developments unto themselves but together create the most significant destination resort scenario that New York State has ever imagined. It will be everything that anyone would have hoped for and more.
There are so many people, residents, business owners and local public officials, who worked so incredibly hard for so many years to bring us to this auspicious day. The list goes on and on. I am grateful to and congratulate them for all they have done in support of this extraordinary effort. Today, I would like to express my gratitude to the Sullivan County Legislature, the Town of Thompson Board of Trustees, Tony Cellini and William Reiber, former and current Supervisor of the Town of Thompson and most especially the leadership of our remarkable Sullivan County Economic Development Team. That includes Cathy Paty and the Board of the Sullivan County Chamber of Commerce, Roberta Byron Lockwood and Herb Clark and the Board of the Sullivan County Visitors Association, Marc Baez and the Board of the Sullivan County Partnership for Economic Development, and most especially Ira Steingart, Chairman, and Walter Garigliano, General Counsel and the Board of the Sullivan County IDA. Without their tireless efforts recently and over the years, we would not be here today. Finally, I would like to thank the principals of Montreign and Adelaar for choosing Sullivan County and remaining patient and resolute throughout this very uncertain process. Today we all celebrate another step forward toward a new and very exciting future for Sullivan County and the entire Great Empire State.
For any questions, Contact: Scott Samuelson 845-866-0744
Agreement Would Allow Shared Entrance and Access to Casino Resort & Housing Development and Shared Use of Golf Course & Other amenities
Developer Louis R. Cappelli, Managing Member of Sullivan Resorts, LLC together with Foxwoods Resort Casino and Muss Development today announced that they have come to a cooperative share and lease agreement on a portion of the former Grossinger’s property owned by Sullivan Resorts, LLC and the adjacent land owned by Muss Development in Liberty, New York. The agreement would allow Foxwoods and Muss to develop and build a world class destination resort casino that would share an entrance with and be adjacent to Sullivan Resorts’ development of homes, entertainment and hotel rooms on the original Grossinger’s property, which would not have a casino.
“Working together with Foxwoods Catskills LLC, we have come to an agreement that will allow us to develop the two parcels of this magnificent 1200 acre site in a complimentary way, and not in competition with one another,” said Louis R. Cappelli. “This agreement will provide a better experience for future homeowners and resort casino visitors, and it will enable us to maximize economic benefits for Liberty, and to create thousands of jobs for residents of Sullivan and Delaware Counties.”
“While we started with an excellent site, joining Sullivan Resorts helps us to create a truly world class experience for our visitors,” said Foxwoods CEO Scott Butera. “Now not only will we have the resort situated to take advantage of the most scenic views, we’ll have the best possible access to the site and full use of the Big G golf course and Grossinger’s Lake, which our visitors will enjoy. This fully integrated resort experience will better position us to compete for a casino license in Sullivan County.”
“Because of this agreement we all will be positioned to build the best possible resort casino, and Sullivan Resorts will be positioned to better develop their property,” said Joshua Muss, CEO of Muss Development. “We have always viewed our property as being an extension of the Grossinger’s property and I applaud them for their vision in seeing the same. We are knitting together one magnificent site with the history of this great Catskills resort and a spectacular setting that is second to none.”
Included in the agreement is a long- term lease for additional property and the golf course by Foxwoods and Muss that will allow users of both projects to share continued use of the golf course and lake. Although viewed as complimentary, neither project is contingent on the other.
Foxwoods and Muss Development were represented in this transaction by Carl Schwartz and Jason Zeigler of Hunton and Williams, LLP. Sullivan Resorts was represented by Al Donnellan and Heidi Winslow of DelBello Donnellan Weingartern Winslow, LLP.
For more information contact: John Gallagher (212) 681-1380
Proposition One was passed with a 57% vote. The passage of the proposition opens the door for the construction of up to seven casinos in the state. The next step is to determine where those casinos will be built. Casino operators will select sites and submit their proposals to the New York State Gaming Commission.
(Monticello, NY 4:00pm) – Sullivan County Legislative Chairman, Scott Samuelson applauds the Governor and State Legislature for their progressive action on Friday that passed the bill that calls for a statewide referendum to bring class three gaming to New York State, especially to Sullivan County.
“Sullivan County has been at the forefront of the casino race for over five decades. We have never wavered on our commitment or desire to host class three gaming; we have fought long and hard to achieve this goal and have proven our support over and over again. We are looking forward to supporting the effort to bring casinos to Sullivan County and will do all that we possibly can to support all qualified partners in that effort,” said Samuelson.
The Governor’s plan to revitalize the upstate regions with this economic catalyst is the right effort at the right time. The last several years have been devastating to the economy of the entire state but most specifically to upstate regions. Counties have been struggling to provide services, abide by state mandates and keep tax levy increases below 2%. It gets harder and harder each year. This kind of boost will make all the difference.
“We believe that together with some of the major tourism attractions that exist in Sullivan County today, this would be the ultimate economic catalyst to help restore the County to the level enjoyed in its heyday as “the” tourism destination in New York State. Casino gaming will never be the silver bullet that it once might have been or may even still be perceived by some, but as a part over an overall tourism program it will serve as an economic development catalyst for our rich and diverse community, the Mid-Hudson Region and ultimately the State of New York. Sullivan County’s proximity to the largest population base in the country, its superior transportation access to State Route 17 (future I-86), multiple sites very close to final site plan approvals, qualified developers and management teams already in place, and community support all work together to make Sullivan County the best possible choice to host casinos in New York State,” Samuelson stated.
There is still much work to be done to see that this measure is supported and for the people of New York to understand that this endeavor will be financially beneficial to the entire state. We need everyone to vote positively on this referendum in November to bring economic relief to all of the citizens of The State of New York.
(Monticello, NY 4:30pm) Sullivan County Legislature Chairman Scott B. Samuelson expressed his optimism after an announcement from Governor Cuomo’s office that the Governor intends to push forward with a proposal for full gaming in New York State.
“I am pleased with Governor Cuomo’s announcement that the casino issue is being addressed and moving forward,” said Samuelson. “While I am still evaluating the details of the Governor’s proposal, clearly this presents an opportunity for a real discussion and debate to occur. There seems to be an increasing amount of optimism that Class III gaming facilities could become a reality in New York State, and I remain hopeful that Sullivan County will benefit greatly from this endeavor.”
Ira Steingart, Legislator for District 8 and Chairman of both the Sullivan County Industrial Development Agency and Community and Economic Development Legislative Committee, was also pleased with the announcement.
“This is an exciting time for Sullivan County, as we have been working for years to bring a Class III gaming facility to the County. Our developers have done their due diligence with regard to their respective projects and are ready to proceed if approved. We feel that we are well positioned to serve as a host community and it is imperative that Sullivan County be selected in this process. It is time for casinos to become a reality in Sullivan County and hopefully a referendum to settle the issue will appear on the ballot this November.”
On Thursday May 9, Governor Cuomo unveiled a comprehensive resort gaming destination plan to create jobs and boost tourism in Upstate New York. The plan details a competitive, non-political, independent process for the siting of three resort gaming destinations. Legislation amending the New York State Constitution to allow Class III gaming in the State must be passed by the New York State Legislature prior to being placed on the November ballot to be voted on by New York State voters.
For more information, please contact the Sullivan County Legislative Offices at 845-807-0435.