Last week, the Gaming Facility Location Board announced the minimum capital investment, the minimum amount that an applicant for a casino license must be willing to invest in a casino, hotel(s) and other amenities. It varies among the three siting regions (Southern Tier, Capital Region and the Catskills).
The siting board reviewed comparable projects in other states. The board said that it “was influenced by its desire to balance the goal of encouraging competition … with the goal of maximizing the economic benefits to the state and each region that are associated with high-quality, large-scale destination resorts.”
Applications for a casino license are due by June 30, and license awarded this fall. Recipients will have two years to begin operating.