Casino News

Capelli: Casino can give Catskills boost

2008-06-30 16:32:33

US developer Louis Capelli believes that his $1 billion proposal to build a casino resort in the Borscht Belt, New York State will help to rejuvenate the area like nothing has before.

The businessman told the Canadian Press that the project, which would see the Monticello Raceway moved from a few miles away to form the focal points of the gambling destination, could do a lot for a region that has fallen on hard times.

"I believe that single-handedly this project could evolve into one of the great revitalization opportunities that the state has ever experienced in its history," Mr Capelli remarked.

The site is to be built on what used to be the Concord Hotel in Catskills, which was knocked down this year.

Craps and card games will apparently not be available to gamblers at the resort, although slot machines will.

Recent economic conditions have seen a number of casino projects in the US abandoned in 2008, with the Crown Las Vegas development perhaps the most notable due its $5 billion estimated cost.