Wake me up when someone steps up to the plate to lend NYNY $300 million. Until then any and all press releases are nothing but a lot of fluff. And no one in their right mind would lend NYNY a wooden nickel to build a casino/hotel/racetrack until legalized gambling is allowed in NY; and that isn't happening anytime soon; and even if legalized gambling is allowed in NY....except for Atlantic City and some Indian reservations in CT even NJ and Ct doesn't have legalized gambling......who the heck is lending NYNY $300 million or $30 million for that matter? Genting would be shooting themselves in the foot if NYNY was lent money. NYNY dealt themselves a bad hand. Genting had Aqueduct fall into their laps and they be happy to see the old Concord site remain a mountain of rubble.
There is some validity in your statement. Logically; based on the economic downturn of the Sullivan County business and resort industry over the past 40+ years ; it doesn't make prudent sense for any organization to place a $600 million capital investment on a project in Sullivan County unless they have some reasonable reassurance they will realize a decent return on their investment. There is an old say; build and they will come. But is that really true in Sullivan County? As of now, as we speak, if a $600 million hotel/casino/racetrack was built at the former site of the Concord, would you go there? Would you go there if there were only slots; no table games? How much would you be willing to pay for a hotel room there from after Labor Day to before Memorial Day?
Look...Aqueduct..Resorts World in Queens has 5.6 million people located within 10 miles of the racino. and is next door to the busiest international airport in the universe.. Genting just paid Boyd Gaming 350 million for an unfinished casino project in Las Vegas . But Monticello is not and never will be NYC or Las Vegas. The truth hurts.