Caesars, Cordish, Penn push New York projects

The big boys were ready and waiting on Monday as the deadline approached for potential casino bidders to file their plans with the State of New York.
Jumping right into the mix was Caesars Acquisition Company (CACQ), the offshoot of the parent, Caesars Entertainment Corp. (CZR), with plans for an $800 million luxury casino resort in Woodbury, New York.
Also ready with plans was the partnership of the Cordish Cos. of Maryland and Penn National Gaming Inc. (PENN). They propose a $750 million Live! Hotel & Casino project in the Hudson Valley-Catskills Region.
There are at least 15 other developers who must submit their plans for a casino if they want to be considered. Monday was the deadline.
Caesars said its casino would be situated in the heart of the Hudson Valley, some 50 miles from New York City. It will be a sustainably designed, contemporary structure that complements the region’s natural surroundings “to create a world-class entertainment-retreat.”
The company said the facility would attract more than 10 million visitors a year, making it a strong economic engine for the State of New York.
Also locating in the Hudson Valley was the Cordish facility that hoped to capitalize on its short distance from New York City.
“No other applicant can match our comprehensive plan to maximize revenue and jobs in the State of New York while simultaneously empowering the region to grow exponentially for years to come,” said Chairman David Cordish.
He added that the project would create a unique Angel incubator – H2V2 – non-profit organization to attract new and existing out-of-state manufacturing, computer science, and research businesses to the Hudson Valley-Catskills Region.