SCHENECTADY — At last, the Schenectady casino plans will be unveiled.
At 11 a.m. today, community leaders, politicians and developers will gather at Proctors’ GE Theatre for a presentation on the casino.
Several politicians and leaders said they had already seen a presentation of the plans weeks ago. The details persuaded them to support the casino, they said.
But they all said they were sworn to secrecy until today.
In fact, many said they could not even use the word “casino” in describing the reason for today’s news conference. But, they whispered, it involved the riverfront. It involved developer David Buicko. It involved the only part of his riverfront development that he had not yet made public.
The casino.
Despite Buicko’s efforts to keep the details quiet, some have leaked out over the past few weeks.
It is projected to be 200,000 square feet and to include a parking garage, according to a roughed-out plan Buicko released himself.
Proctors CEO Philip Morris said he was in talks with the casino developer and was sure entertainment there wouldn’t put Schenectady’s theater out of business.
He said the casino would include a smaller venue than the Proctors main stage and would not compete directly by booking Broadway shows or even large concerts.
The casino developer might even have Proctors run the casino venue, Morris said.
Likewise, some restaurant owners said they had been assured that the casino would not compete directly with them, instead offering a buffet or a second venue for them to rent. Some said there was talk of running a regular trolley from the casino to downtown.
Metroplex Development Authority Chairman Ray Gillen said the developer would also make promises to hire city residents at “good” wages — which would be above minimum wage, even for “floor” jobs, which include operating the casino games.
But until the state announced its required minimum investment for a Capital Region casino, Buicko said the developer would not unveil any plans.
There were fears that the minimum would be too high for the developer — an amount so high that the developer would doubt that the casino could make a profit.
But the minimum turned out to be $182.25 million, which local developers said would make it well worth it to open a Schenectady casino.
The next step in the process is to gain public approval. The state will grant only four licenses, throughout three regions, and public support is a requirement.
If the Schenectady proposal gets support — and half the City Council was uneasy about it two weeks ago — the developer could proceed with applying for a license.
It would be a competitive process. Among others, the Saratoga Casino and Raceway has partnered with the owners of Churchill Downs in Kentucky and has proposed a $300 million casino in East Greenbush. The owners of Howe Caverns in Cobleskill are also in the running, arguing that their cavern would add to the entertainment draw for a casino.
He wants to have monopoly on entertainment in the county?????? Sure, he is DESPARATE for more money coming in to Proctors because he needs money to pay the mortgage on his city home. He's mortgaged to well over $200,000 and if you look at the assessment roll, the full market value of his city house is $131,301, which is some $30,000 less than what he bought the place for in 2002.
Gee, under the 10 years of dem leadership in the city/county, King Phillip's has gone down in value by over $30,000, and that's merely the calculation based on the equalization rate. And we ALL (almost all of us anyway) know that actual sales prices of houses is even lower than the full market value shown on the assessment roll, so his house is probably worth maybe $120,000 and he's taken out so many mortgages, he's in a heap of financial trouble in his personal life.
It's one thing if he has concerns about competition from a casino that is IN Schenectady but he still has no right to prohibit anyone to limit what they can do. But more so, he has no right at all whatsoever to do anything, not even so much as to petition the government to prohibit a casino in another area of the capital district to limit their shows.
I'm actually surprised that King Phillip isn't trying to force the closure of the Times Union Center! Think about it, yes?
He is just a spoiled brat.
Since he is obviously in financial doo doo in his personal life, I suggest he go see Vince MacMahon in that wrestling thing and see if he can pawn himself off as Lou Albano's son.
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
King Philip the clown and his Proctors and all the Downtown restaurants will be out of business as soon as the casino/hotel/retail goes up! Galesi intends to compete directly with the Downtown businesses. Schenectady has a population of 66,000 people not a large enough customer base to support all these businesses most will fold!
Philip don't believe that you will be running the show it is a facade so you don't get upset! They will shut your theater down you clown!
SCHENECTADY >> City Mayor Garry McCarthy announced this morning that casino operator Rush Street Gaming LLC wants to build a casino in the planned $150 million-plus Mohawk Harbor development along the riverfront in the Electric City.
The announcement is under way at a news conference at the GE Theater at Proctors on State Street in downtown Schenectady.
The proposed casino would be located at the former ALCO site.
King Philip the clown and his Proctors and all the Downtown restaurants will be out of business as soon as the casino/hotel/retail goes up! Galesi intends to compete directly with the Downtown businesses. Schenectady has a population of 66,000 people not a large enough customer base to support all these businesses most will fold!
Philip don't believe that you will be running the show it is a facade so you don't get upset! They will shut your theater down you clown!
But wait, Galesi owns most of the properties downtown, and doesn't pay taxes on them because he is a billionaire and can buy off the dem leadership, thus making the homeowners pay his taxes, and he'll have his so called "harbor" also tax exempt.
Two separate areas of his properties competing against each other?
That would be funny.
I'd say it's doubtful the city gets it anyway. God forbid! With all the money spent on downtown and look at the drastic reduction in the tax base. Put another Galssi project with a bunch of low paying jobs, and homeowners are going to have to pay Galesi's taxes there, that will be the death of the city.
10 years under the dems have run the city in to the ground. Downtown looks pretty with it's shiny new buildings, but the rest of the city is turning into a ghetto, blight spread like wildfire, homes abandoned, homeowners unable to pay for taxes of the downtown properties so the city take their homes away from them, homes that the city can't afford to take care of, no one wants to buy homes in the city so the city can't sell them, homes on the open market sit for a year or two unsold, prices dropping like rarely ever seen, a city fast turning into a ghost town has EVIDENCED BY THE EVERY INCREASING NUMBER OF BOARDED UP HOMES, as well as the otherwise nice houses that are up for sale by the houses are empty because the people have fled the city.
Empty houses throughout the city hitting record high numbers. You have the houses that sit for sale, empty, no one willing to buy them. And you have the boarded up homes.
That is evidence of a ghost town being created by the dems over the past 10 years.
Let's see the BIG (in more ways than one) provide one teeny weeny shred of evidence to the contrary. ROFLMAO
10 years of projects by the dem leaders in the city, county, and plex has resulted in the following (come on coward DV, speak about this video, will ya? -- this is what YOUR dems have created!)
Soon the GE realty plot will look like this, if the dems keep leading the city.
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
THE RUSH STREET CULTURE: Respect the Game, Respect the Player RUSH STREET GAMING HISTORY Although Rush Street Gaming was formed in 2009, its history goes back to 1996, when Neil Bluhm and Greg Carlin partnered with Hyatt Gaming, INC. to form Falls Management Company (“FMC”) and pursue the Niagara Falls Casino request for proposal in Canada. In September 1998, FMC entered into an agreement with the Province of Ontario to manage Casino Niagara and build the new permanent casino in Niagara Falls, which opened in 2004. In August 2002 Neil and Greg began to pursue the 10th Riverboat Gaming license in Illinois and were awarded the license in 2008. Also in August 2008 Neil and Greg opened the Riverwalk Casino Hotel in Vicksburg, MS, and - along with Walton Street Capital, acquired the only casino in Pittsburgh while it was in development. After renaming it the Rivers Casino, it opened its doors to the public in August 2009. Greg and Neil were also selected as one of the two license owners for a Philadelphia casino in 2006 and built the SugarHouse Casino, which opened in 2010. With two operating casinos and two on the way, Neil and Greg formed Rush Street Gaming in 2009 to oversee and support their casinos throughout the United States. Between October 2008 and July 2011, Rush Street Gaming casinos have added more than 4,000 direct and permanent jobs and deployed over $1.7 billion of capital. All the casinos that Rush Street Gaming oversees continue to be among the top performers in their markets and Rush Street is aggressively pursuing gaming investments and other operation opportunities.
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
I have read no discussion or debate about the quality of life issues that will arise from the location of a casino in the city. Prostitution, organized crime, illegal drug dealing, etc. will surely increase. The Schenectady Police have shown themselves unable to control the spread of criminal activity (gangs, prostitutes, etc.) that exists today.
I have read no discussion or debate about the quality of life issues that will arise from the location of a casino in the city. Prostitution, organized crime, illegal drug dealing, etc. will surely increase. The Schenectady Police have shown themselves unable to control the spread of criminal activity (gangs, prostitutes, etc.) that exists today.
nor will you...since apparently none of those issues affect our beloved council in any way shape or form
Logged
