Binghamton downtown looking north(Photo: SIMON WHEELER / STAFF PHOTO)
Story Highlights
- Cordish Companies is rumored to have an interest in the City of Binghamton.
- Tioga Downs Jeff Gural still is pursuing his bid for a full casino license.
- Several casino developers expressed no interest in Binghamton.
If a challenger to Tioga Downs' bid for a casino license emerges, it may come from a group looking to develop a casino in the City of Binghamton.
Binghamton Mayor Richard David said he's had conversations with entities — one that was recommended for a commercial casino license in December and others that were unsuccessful — about the "viability" of a casino in the city.
David declined to disclose the companies. At this point, he said, it would be premature to say a bid for a Binghamton casino will definitely be submitted.
"I do believe the City of Binghamton would be an attractive place for a casino," David said.
The Gaming Facility Location Board on Friday voted to adopt a new Request for Applications for the Southern Tier region. The RFA still needs Gaming Commission approval before it can be released. The Gaming Commission is reviewing the RFA, a spokesman said, and has a meeting scheduled for March 23.
As of now, Tioga Downs is the only entity that has publicly expressed interest in submitting a new bid in the Southern Tier. While the board members have repeatedly made it clear they want a competition for the license in the Southern Tier, some maintain that the region is too small to support a racino and a Las Vegas-style casino. One bidder in the last round, Traditions at the Glen, now supports Tioga Downs.
Baltimore, Md.-based The Cordish Companies is rumored to have an interest in the City of Binghamton. Cordish officials did not respond to several emails and calls seeking comment.
Cordish previously partnered with Penn National Gaming to propose the Live! Hotel and Casino New York, a failed Orange County plan that had a minimum capital investment of more than $570 million.
Representatives of several failed bidders said they have no interest in the Southern Tier, including: Caesars; Genting; Penn National Gaming; Saratoga Casino and Raceway; MJM Enterprises; Full House Resorts; and Nevele. Mohegan Sun previously indicated to the Press & Sun-Bulletin's Albany Bureau that it didn't expect to be interested in the Southern Tier.
Because it's a publicly traded company, Churchill Downs Inc. said it does not comment on development opportunities.
Hard Rock, involved in a failed casino bid for Rensselaer, declined to comment about whether it's interested in the Southern Tier. And Greenetrack, who was behind a rejected Orange County casino bid, did not return several calls seeking comment.
On Dec. 17, the board recommended three projects — Lago Resort & Casino in the Finger Lakes, Montreign Resort Casino in the Catskills, and Rivers Casino & Resort at Mohawk Harbor in the Capital region — for commercial casino licenses.
Montreign developer Empire Resorts and Rush Street Gaming, behind the Rivers Casino project, said they have no interest in bidding for a Southern Tier casino.
And Lago spokesman Steven Greenberg said: "All of our team is focused ion getting Lago licensed, built and open."
One of the spots of interest in the City of Binghamton is off the Brandywine Highway.
Vista Hospitality Group, a commercial real estate company that owns the Holiday Inn Arena in Binghamton, previously identified the former Stow manufacturing site off the Brandywine Highway as a site for a casino.
Ally Visram, chief operating officer of Vista, said the company has no interest in reviving its original $120 million Binghamton casino plan.
LCP Group owns nearby parcels at 111, 111 1/2 and 115 Montgomery Street, according to the Broome County property database. Christina Pierce, of LCP Group, said a real estate broker recently approached them with a buyer. The broker did not say who the potential buyer was or what would be built on the parcels, Pierce said.
The Broome County Industrial Development Agency is the listed owner of 61 Montgomery Street. Kevin McLaughlin, executive director of the IDA, said the agency has not been approached but would be willing to partner with a casino developer.
Tioga Downs owner Jeff Gural, however, maintains the Southern Tier could not support his Nichols racino and a casino 30 minutes away.
"I just don't think the economics work," Gural said.
According to Las Vegas-based Union Gaming Analytics, there are only 542,000 people living within 60 minutes of Tioga Downs, a Nichols racino with 802 video-lottery terminals.
Gural said he approached Hard Rock about a month ago to discuss whether the company was interested in working on a new bid at Tioga Downs. In April 2013, Hard Rock entered into an agreement with New Meadowlands Racetrack LLC, a company that Gural chairs.
"They didn't think the area was big enough to warrant the cost to rebuild it as a Hard Rock," said Gural, noting that the Tioga Downs' country theme would have needed to change.
While Gural hopes no groups come forward to challenge Tioga Downs, he said Tioga Downs is focused on taking the board's comments and revamping its proposal.
"My focus is on our bid and improving it, so the people of the Southern Tier can get a casino license," Gural said.
Follow Jon Harris on Twitter @PSBJonHarris.
Read or Share this story: http://press.sn/1BJ1ySZ
| < Prev | Next > |
|---|
Copyright © 2024 ToCasino.net Online Casino. All Rights Reserved. Designed by