After the $630-million project for the Montreign Casino Resort in the Catskills area got the nod from the state of New York, residents of the nearby village Monticello are now hoping for the revival of the place that was once a thriving tourist mecca.
Locals claim that in the past, the region attracted thousands of tourists every year. They were offered various unique entertainment activities. However, things are quite different now. The storefronts are absolutely empty and the bungalows that accommodated guests of the village are in a state of ruin as a result of years of neglect.
Yet, after state officials backed the Borscht Belt resort community’s application for the construction of the so-called Montreign Casino Resort, residents of Monticello are hopeful that things will change for the better.
The $630-million project is planned to be located not far from the decrepit building of the Concord Resort Hotel. It will feature an 18-story casino venue with 2,150 slot machines and 61 gaming tables, an entertainment complex, and a hotel.
The region is also expected to become home to the $750-million complex called Adelaar which is to include a golf course, shopping center, water park and residential properties.
It was announced that the Montreign Casino Resort will generate hundreds of building jobs as well as 1,209 full-time and 96 part-time jobs once the venue’s construction is complete. Residents consider this information particularly pleasing as local community has been struggling with low employment rates and drug problems for years.
Unemployment in Monticello and the town of Thompson, which form together the Sullivan County, was reported to be 6.4% in November.
The reason for the region’s downfall was the fact that the Concord and other local resorts were forced to close doors towards the end of the 20th century as American tourists were allured by cheap flights and tended to go abroad.
Apart from those who are enthusiastic about the launch of a new casino in the area, there are people that believe the market in the Northeast is already saturated and the Montreign’s turnover might not be enough for the restoration of Monticello’s former glory of a tourist mecca.
Last week, Moody’s Investors Service issued a report in which it stated that the launch of new casinos will certainly benefit municipalities. Yet, according to the research house, the gambling venues’ long-term financial impact is questionable, due to the “intense competition”.
Sullivan County is expected to collect almost $15 million in host fees.
Although residents of the region partly share the concerns of Moody’s experts, they believe that their casino and the Adelaar project will offer attractions that no other venue does.
