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