Racino plans major investment
An investment in the tens of millions of dollars will be announced on Tuesday by the Saratoga Casino & Raceway, according two sources familiar with the announcement.
Plans have not yet been made public and no paperwork has been filed with the city, but earlier this week the racino sent out an advisory for a âmajor newsâ announcement on Tuesday. The event will feature a presentation and tourism industry professionals will be in attendance.
Saratoga racino Vice President of Marketing and External Affairs Rita Cox declined to comment for this story.
The Saratoga racino, which currently hosts harness racing and electronic gambling, is vying for a license to operate more lucrative live-table games. The potential economic impact of live-table games in Saratoga Springs was assessed in a 2012 study, which is available below.
A constitutional amendment that would allow seven non-indian live-table casinos is now under consideration for second passage by the state Legislature and a statewide referendum is expected this fall.
A full story is available HERE.
In January of last year, the Saratoga racino laid out plans for a $37.65 million expansion of their operation, including an 80,000-square-foot hotel and 25,000-square-foot event space, if live-table games were located there. The project was expected to take about 15 months to complete and increase the racinoâs workforce ânow at more than 600 employees â by almost 400 positions in hotel, gaming and restaurant operations.
Follow @poozer87 on Twitter.