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The Chip Board Archive 06

Latest on New York State casinos

Excellent article in today's New York Times (12/17/01 - front page of the Metro section) on the status of New York State casinos. Gov. Pataki signed a bill in October authorizing "up to six" new Indian casinos - three in Buffalo/Niagara Falls area - three in the Catskills (60-90 minutes from NYC).

Many companies are jockeying for favor with the Mohawk, Seneca and Oneida tribal folks hoping to secure construction, management and operation deals. Harrah's is among those interested. So is Delaware North, whose president owns the Fleet Center in Boston and the Boston Bruins. Biggest winner of all will probably be IGT - thousands of new slot machines to be sold at $10,000+ apiece.

Interesting statistical overview... Foxwoods and Mohegan Sun in Connecticut are referred to as "the most successful (casinos) in the world with estimated combined revenues of $1.9 billion a year... more than 7 million people live within 100 miles of the Connecticut casinos... for casinos in Sullivan County, N.Y. (the Catskills) that figure would be 19 milllion people with 100 miles." Do the math - the numbers are staggering.

Much of the business would come from those who now frequent Atlantic City. Says Harrah's CEO Philip G. Satre, "If someone's going to cannibalize us, I want to be the cannibal."

Only thing missing from the article? A timetable showing how soon these new casinos might be open.

Dick Bartley - Westport, CT. (R-5316)

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