Casinos in the News

Gov. Eliot Spitzer has announced that the state has come to an agreement with the St. Regis Mohawk Indian Nation to build a $600 million casino in Monticello, New York next door to the Monticello Raceway. That's the same general location where Gov. Pataki had been trying to get a casino deal done for years.

The Sullivan County casino that would be expected to draw gamblers from the nearby New York City area is also expected to provide hundreds of millions of dollars in revenue to state government, as well as help revive the economically hard-pressed region. The $600 million casino is expected to provide 3,000 permanent jobs and create a building boom in the area.

The casino would also mark a return of the region as an entertainment hot spot, where top comedians, bands, singers and boxers once made regular stops. The names of the now closed Catskills resorts and the stars who honed their craft there are part of American entertainment legend.

"By working together, we can establish a premier gaming facility that will produce significant revenues for the tribe and the state and help spark a resurgence of the Catskills region," Spitzer said.

Under the agreement, the state would receive 20 percent of the revenue from slot machines for the first two years, 23 percent for the next two years and 25 percent after that. Ending another major sticking point, the tribe agreed to comply with state tax, labor and health laws. For a sovereign tribe, the state couldn't simply require adherence to state laws.

This is far from a done deal as well since it requires federal authorization to proceed.

If this does go forward - and it is not a sure thing - Monticello would become the closest full fledged casino complex to New York City. It would be closer than Foxwoods or Mohegan Sun in Connecticut or Atlantic City in New Jersey. Sullivan County has suffered through the loss of the old Catskill hotel industry. Before there was Vegas, there were the Catskills. Legendary spots like the Nevele, Kutschers, Concord, and Grossingers have fallen by the wayside as destination hotels around the country have not only spent the money needed to upgrade facilities, but attract top tier entertainment.

A new casino hotel complex would inject new life into the region, not to mention jobs and opportunities for other local businesses. The trick is to ensure that locals get opportunities and that the costs and benefits of the deal benefit the local community.

As if on cue, New Jersey casinos used the day to announce that they have agreed to purchase a eight double-decker trains and locomotives to run express trains between New York Penn Station and Atlantic City.

At the other end of the spectrum, Las Vegas casinos had quite the weekend. Hundreds of arrests. Shootings. Mayhem among the mammaries. All courtesy of NBA All Star Weekend. Nice.