Amsterdam application still missing details, seeking extension

PHOTOGRAPHER: Matthew McKibben

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Casino proposals

Redacted versions of the five casino proposals for the Capital Region were briefly released Thursday by the state Gaming Commission before being removed from its website due to technical issues:

Unnamed Amsterdam proposal

Howe Caverns Resort & Casino, Cobleskill

Hard Rock Hotel, Rensselaer

Rivers Resort & Casino at Mohawk Harbor, Schenectady

The East Greenbush proposal is not available due to technical issues.

Previous coverage of the competition for a Capital Region casino can be found at www.dailygazette.com/news/capital-region-casino/

The application for a casino license at a Montgomery County site is rife with sections that still need to be completed, according to documents posted on the state Gaming Commission’s website Thursday.

Several sections of the application include the following statement: “Florida Acquisition Corp., and Clairvest Group Inc. and Great Canadian Gaming Corp. will complete this section of the RFA within 60 days of the date at which the New York Gaming Facility Location Board of the New York State Gaming Commission agree with the applicant on the solution for the challenge of the License Fee as noted in the Executive Summary.”

The state Gaming Commission had previously denied requests by Clairvest Group Inc and Great Canadian Gaming Corp., — the would-be developer and operator of the proposed casino — to extend the application deadline and slash the licensing fee in half, to $25 million. But apparently that hasn’t deterred them from asking for the concessions yet again.

As part of a plan to “make the state whole in the long-run,” the document states the development team may be willing to pay an additional 5 percent tax on slot gaming revenue in excess of $135 million to either the state or the host county.

To compete for a casino license, applicants were required to submit a $1 million fee in April. The siting board said it would use the money to vet each applicant’s background.

If the siting board denies the concessions the development team is requesting and the team subsequently withdraws its application, it is unclear if the developers would be able to recoup any of the money initially deposited.

The siting board has not informed the development team whether it will grant the 60-day extension it is seeking.

The application states Clairvest and Great Canadian have “excellent relations with banks and financial institutions and such references will attest to their creditworthiness.” However, the names of banks or financial institutions were not provided, and the document states the developers will need 60 days to provide the references.

Montgomery County Executive Matt Ossenfort, who has been touting the project’s benefits for months, said he was not surprised to find a number of sections have been left incomplete. He added that the development team is still working on completing the application and has been in contact with the Gaming Commission.