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Thursday, October 23, 2014
Amsterdam, NY ,
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Casino developers moving forward with application

Saturday, June 21, 2014 - Updated: 10:18 PM

By NICOLE ANTONUCCI

The casino developers of the Thruway Exit 27 proposal announced today they will be submitting an application for a gaming license on June 30. 

"After speaking with local officials and receiving words of encouragement from people in the local community, we have decided to move ahead with the application process," Clairvest Group Inc. Investment Advisor Peter Marcil said.

The decision follows a day after the state Gaming Facility Location Board had denied a request to modify the application process.

Clairvest Group Inc. representatives originally said this week their plan would not move forward without a 60-day deadline extension, as well as a $25 million deferment to the $50 million licensing fee. 

Following the state's decision Friday, the developer was unsure whether they were going to proceed. However, Marcil said Clairvest Group CEO  Jeffrey Parr decided to move forward after all.

Montgomery County Matthew Ossenfort said he was glad that the developer has decided to move forward.

"After pleading our case about the need in the community, I am very excited that we are still in the game," Ossenfort said. "We are going to do everything we can as a county to assist them and try to make this happen."

Clairvest Group Inc. is among 19 entities vying for one of four gaming licenses in the Capital, Catskills and East Southern Tier Regions. 

The development team is proposing to develop a 512-acre property straddling the border between the town of Florida and the city of Amsterdam with a $250 million project. It will consist of a casino, hotel, spa, two golf courses, 300 residential units and potential commercial development, which will be done in three phases over two years.

     

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