Andrew Coen
Reporter
The Bond Buyer
P: 212-803-8724
Nassau OTB Picks Casino Site
BY
ANDREW COEN
DEC 31, 2014 1:27pm ET
Nassau
Regional Off-Track Betting has selected a commercial location for a
planned Nassau County, N.Y. mini casino with up to 1,000 video lottery
terminals slated to open in 2015.
The
agency announced on Dec. 30 that it has picked a vacant building at the
Source Mall in Westbury that formerly housed Fortunoff store before it
was closed in 2009. The announcement
comes three weeks after Nassau OTB passed a resolution to begin
authorizing up to $100 million in bonds to buy and develop a casino
site. The casino is estimated to generate up to $20 million in annual
revenue, according to a Nassau OTB spokesman.
"Fortunoff
was chosen for negotiations after numerous submissions were provided to
the selection committee through a public Request for Statements of
Interest and after extensive
considerations were given to each and every site offered," Nassau OTB
said in a statement. "This facility provides a centralized location with
ample parking and easy access to major thoroughfares as required by the
New York State Gaming Commission."
The
video slot machines will encompass around 15% of the facility with the
remaining portions of the structure featuring restaurants, a food court
and administrative offices, according
to Nassau OTB officials. The property is located in central Nassau
County around 30 miles east of Manhattan.
New
York Gov. Andrew Cuomo signed a bill in 2013 that allowed Nassau and
neighboring Suffolk County to build one video lottery terminal facility
each with a maximum of 1,000 machines.
Nassau OTB Plans Bonds for Casino
BY
ANDREW COEN
DEC 8, 2014 3:19pm ET
Nassau Regional Off-Track Betting is taking steps to float bonds for a new mini casino.
The
agency passed a resolution at a public meeting Monday morning to begin
the process of authorizing up to $100 million in bonds to buy and
develop a casino site in Nassau County,
which is on Long Island just outside New York City. The exact location
of the casino, which would have 1,000 video slot machines and table
games, hasn't been announced. A Nassau OTB spokesman said more steps
will be taken before the bonds are officially authorized.
The goal is to open the casino by the end of 2015, he said.
Gov.
Andrew Cuomo signed a bill last year allowing Nassau and neighboring
Suffolk County to build one video lottery terminal gaming facility
apiece with a maximum of 1,000 machines.
Andrew Coen
Reporter
The Bond Buyer
P: 212-803-8724
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