Jeff Gural, others present casino plans to NY Gaming Board

Developers looking to open upstate casinos grilled on finances, revenue projections

New York /
Sep.September 08, 2014 06:15 PM

The New York Gaming Facility Location Board kicked off two days of hearing in-person presentations from 16 casino applicants, including Tioga Downs head and Newmark Grubb Knight Frank chairman Jeff Gural, on Monday.

Developers looking to open casinos in upstate New York responded to questions about their finances and revenue projections before the state’s board, the Associated Press reported. Allotted 45 minutes each, each argued why they deserve casino licenses over their regional competitors.

So far, New York state has authorized up to four casino licenses that will be divide up among three update regions: the Albany-Saratoga area, Southern Tier-Finger Lakes region and the Catskills and mid-Hudson River Valley. Gural’s Tioga Downs racino is considered the favorite to win in the Southern Tier, but faces a fierce battle in the Catskills, where major players such as Caesars and Empire Resorts are going toe-to-toe with New York City developers like Muss Development to nab the license. [Crain’s]Julie Strickland


Related Articles

arrow_forward_ios
The Casino Lisboa in Macau (Mikel Santamaria/Flickr)
Pandemic-driven tourism slump is bad luck for Macau’s casinos
Pandemic-driven tourism slump is bad luck for Macau’s casinos
GFPRE Chairman Jeffrey Gural and Gov. Andrew Cuomo (Getty)
Jeff Gural: Cuomo ran “criminal operation” as governor
Jeff Gural: Cuomo ran “criminal operation” as governor
Signage from Shinnecock Indian Nation construction earlier this year (Getty)
Shinnecock Nation approves hotel and gas station projects
Shinnecock Nation approves hotel and gas station projects
MGM Growth Properties CEO James Stewart and Vici CEO Edward Pitoniak (MGM, Vici)
Casino REIT Vici Properties acquires MGM Growth Properties in $17B deal
Casino REIT Vici Properties acquires MGM Growth Properties in $17B deal
(Tropicana Las  Vegas via Facebook, Bally's Corp)
Bally’s buys Las Vegas’ Tropicana casino for $150M
Bally’s buys Las Vegas’ Tropicana casino for $150M
The Shinnecock Nation seal and an aerial of Shinnecock Nation in Southampton (Photos via Facebook, iStock, Google Maps)
Shinnecock Nation will build Southampton casino
Shinnecock Nation will build Southampton casino
(Illustration by Kevin Rebong for The Real Deal)
Developers pitch New York City casino
Developers pitch New York City casino
Sheldon Adelson and the Venetian in Las Vegas (Gettty)
Casino magnate Sheldon Adelson dies at 87
Casino magnate Sheldon Adelson dies at 87
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...