The New York Gaming Facility Location Board recommended on Wednesday real estate developer Jeff Gural’s proposal to turn Tioga Downs Casino & Racing in Nichols into a full-scale Las Vegas-style casino.
Board members said yesterday that they strongly recommend the completion of the project. Mr. Gural presented the board with a revised plan for the addition of a fully-fledged casino at the racetrack earlier this year. In fact, this was the second time that the proposal was reviewed.
Last year, Tioga Downs was among the bidders for one of four casino licenses the New York Gaming Commission had promised to grant. In December, the Gaming Facility Location Board recommended only three projects. Back then, Mr. Gural said that they would do their best to eventually get a casino at Tioga Downs.
In March, the state gambling regulator reopened the bidding process for a casino license in the Southern Tier region and the Nichols gambling venue was the only candidate for it.
The three-member Gaming Facility Location Board reviewed the proposal and said yesterday that if completed, the project would create numerous jobs and would bring economic development to the region. Members also pointed out that the Tioga Downs proposal has been vehemently supported by residents of Nichols and the area as a whole.
The addition of a full-scale casino as well as a larger hotel than initially planned is expected to cost Mr. Gural about $140 million. What is more, 1,100 new jobs are expected to be created upon completion of the project.
During the Wednesday meeting, the Gaming Facility Location Board also explained why it rejected Mr. Gural’s plan last year. Kevin Law, one of the gaming board’s members, said that they had never said that they had not liked the Southern Tier project. Mr. Law noted that they had not liked the hotel that had originally been proposed. In addition to this, members had had doubts over the financing of the facility.
According to Mr. Law and his colleagues from the board, “the most important improvement was on the financial side.” He also pointed out that if no significant changes had been implemented to the original plan, they would have been more than ready to reject it once again.
The New York Gaming Commission will next have to announce whether it approves the project. It is still unclear when this is going to happen.
Mr. Gural said that they will commence renovation works, despite the fact that the official approval is yet to be announced. The revised plan for a full-scale casino at Tioga Downs includes the addition of 50 gaming tables, 1,000 video lottery terminals, 161 hotel rooms, etc.
