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Mohegan Sun, Concord Assoc. to rebuild at site of Concord Hotel

May 08, 2011 10:11 AM by Staff & Wire Reports

An Indian tribal casino operator and a New York developer announced Thursday a partnership to develop a gambling and racing resort intended to revive a Catskill Mountain destination.

The Mohegan Tribal Gaming Authority, parent of the Mohegan Sun in eastern Connecticut and Pocono Downs in Plains Township, Pa., and Concord Associates will develop a $600 million project to rebuild at the site of the Concord Hotel, once one of the most popular destinations in the Borscht Belt.

Ground will be broken on the 116-acre site in June, and the resort in Thompson, N.Y., is expected to open by spring 2013.

The Mohegan Sun is a "small equity holder" in the project, said Mitchell Etess, chief executive of the Mohegan Tribal Gaming Authority. More details will be available in the future on how the total amount of money is split between the two partners and how the money will be raised.

A 75,000 square-foot casino would feature 2,100 video lottery terminals with as many as 450 electronic table game positions, a 258-room hotel, a harness racing facility with a grandstand, a track and related paddock facilities, a simulcast site for pari-mutuel betting, 10,000 square feet of meeting rooms and ballrooms, five restaurants, retail outlets and entertainment space.

More than $100 million has been spent on site preparation, foundations, demolition and fixing environmental problems, the Mohegan Sun said.

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New York is expected to “retaliate violently” if New Jersey voters approve plans to allow two casinos across the river from Manhattan. New Jersey voters will decide in November whether to authorize casinos in the northern part of the state.

State officials say Nevada gambling revenue was down more than 2 percent in April compared with last year. The Nevada Gaming Control Board said Thursday that the state’s casinos won $876 million in April.

Gov. Chris Christie said a deal to rescue Atlantic City that advanced in the Legislature this week contains the authority he would need to help the struggling resort town, but he stopped short of saying he would sign it.

As many as 11 states may adopt regulations permitting and regulating daily fantasy sports by the end of the year. Six states have passed bills to regulate daily fantasy sports so far, and five more may do so soon.

Gamblers lost more money at Mississippi casinos along both the Gulf Coast and Mississippi River in April. Figures released by the state Revenue Department show casinos won $181 million in April, up 2 percent from $177 million in April 2015.

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