Anyone who is not a believer can simply go to hell.
For Immediate Release: March 24, 2014
Contact:
Lee.Park@gaming.ny.gov
NEW YORK GAMING FACILITY LOCATION BOARD SELECTS
TAFT, STETTINIUS & HOLLISTER LLP AS GAMING ADVISORY SERVICES CONSULTANT
The
New York Gaming Facility Location Board has selected the firm of Taft,
Stettinius & Hollister LLP to provide gaming advisory services in
its review and ultimate selection of casino applicants
for Upstate New York.
The
selection of a consultant to provide the Gaming Facility Location Board
members with analysis of the gaming industry and assist with the
comprehensive review and evaluation of the applications
is mandated by the Upstate New York Gaming and Economic Development
Act.
The
New York State Gaming Commission issued a Request for Proposals for the
consultant in November 2013. The proposal put forth by Taft, Stettinius
& Hollister LLP was selected over four other
timely proposals received.
Taft,
Stettinius & Hollister LLP has subcontracted with several entities
to assist in the project, including financial advisory firm Christiansen
Capital Advisors, investment bank Houlihan
Lokey and gaming facility consultant Macomber International, Inc.
Taft, Stettinius & Hollister LLP
(Taft) has approximately 400 attorneys and maintains core practice
groups in the areas of gaming law,
corporate finance, government contracts and real estate development.
The firm has extensive experience in drafting Requests for Applications
and protocols for casino development projects, including evaluating the
legal, suitability, financial and local government
and community impact aspects of the applications received and preparing
analysis and conclusions on the siting process. The firm has worked
with Colorado, Louisiana, Missouri, Chicago, Detroit and Springfield,
Massachusetts on gaming matters. As primary contractor,
Taft will be the project contact and will be responsible for all
services provided by subcontractors.
Christiansen Capital Advisors
has advised governments, investors, casino companies, law firms and the
media concerning the gaming industry
since 1988. The company will provide the Gaming Facility Location Board
with technical expertise and conduct revenue feasibility studies for
the casino gaming market in each region, which will assist the Gaming
Facility Location Board in setting gaming licensing
fees. Christiansen Capital Advisors will work with Macomber to advise
the Gaming Facility Location Board in setting the minimum capital
investment required in each region and advise the Gaming Facility
Location Board on the content of the RFA and the evaluation
of applicants with respect to financial viability, market studies and
revenue/cost projections.
Houlihan Lokey Capital, Inc.
(Houlihan) is a global investment banking firm and leading advisor in
gaming industry financial matters,
including raising capital and structuring financings. The firm has more
than 40 years of financial advisory experience and has advised both
gaming companies and investors in connection with mergers and
acquisitions, financial restructuring and other complex
matters. Houlihan has advised the U.S. Treasury Department and
Department of Energy. The firm has been retained to provide technical
expertise and advise the Gaming Facility Location Board on the general
prospects for financing casino development projects
in each region. Houlihan will assist in the evaluation of applicants’
responses for financial capacity to develop and sustain proposed casino
development projects, review the likelihood and firmness of any
financing commitments provided by the applicants and
evaluate the ability of the equity and debt financing markets to
support the proposed projects.
Macomber International, Inc.
(Macomber)
is an international consulting company that provides custom
development, finance/funding, operations, marketing and other services
to publicly and privately owned companies and governments. Dean
Macomber, the founder, president and sole employee, has expertise in
the development, layout and operation of casino projects. He has been
retained to advise the Gaming Facility Location Board on the projected
size of the potential gaming markets in the regions.
Additionally, together with Christiansen Capital Advisors, Macomber
will provide assistance in setting the minimum capital investment
required in each region. The company will advise the Gaming Facility
Location Board in its evaluation of the size and layout
of proposed casinos, including the number of table games and slot
machines, poker and high-limit positions. Macomber will also assist in
the evaluation of proposed food and beverage operations, hotel amenities
and back-of-house operations, including internal
controls and security.
The Gaming Facility Location Board will issue the Request for Applications for casino bidders this month.
Commission
staff is working on the Request for Application, incorporating the
mandatory elements set forth in the Upstate New York Gaming and Economic
Development Act. The Board and Commission
will continue to develop the Request for Application, which the Board
will issue. The Gaming Facility Location Board will also undertake, with
the assistance of the gaming advisory services consultant, further
duties as set forth in the Upstate New York Gaming
and Economic Development Act, including:
·
Establishment of the license fee
·
Determination of the minimal capital investment
·
Establishment
of a credit from previous development for existing video lottery gaming
facilities that wish to submit an application
·
Determination on how local support will be illustrated
Based on previous professional relationships both Taft and its subcontractors have had with gaming entities, the
Facility Location Board will require applicants, as part of the Request
for Application, to complete Conflict of Interest disclosures and
mitigate any potential or actual conflict of interest in order for the
Board to accept an application.
HI-
Thanks for
the help. The item’s below. I’d be happy to mail you a copy,
if you give me a mailing address.
Claude Solnik
(631) 913-4244
Long
Island Business News
2150
Smithtown Ave.
Ronkonkoma,
NY 11779-7348
Home >
LI Confidential > Stop
scratching on holidays
Stop scratching on holidays
Published: June 1, 2012
Off Track Betting in New York State has been racing into a crisis called shrinking revenue. Some people have spitballed a solution: Don’t close on holidays.
New York State Racing Law bars racing on Christmas, Easter and Palm Sunday, and the state has ruled OTBs can’t handle action on those days, even though they could easily broadcast races from out of state.
“You should be able to bet whenever you want,” said Jackson Leeds, a Nassau OTB employee who makes an occasional bet. He added some irrefutable logic: “How is the business going to make money if you’re not open to take people’s bets?”
Elias Tsekerides, president of the Federation of Hellenic Societies of Greater New York, said OTB is open on Greek Orthodox Easter and Palm Sunday.
“I don’t want discrimination,” Tsekerides said. “They close for the Catholics, but open for the Greek Orthodox? It’s either open for all or not open.”
OTB officials have said they lose millions by closing on Palm Sunday alone, with tracks such as Gulfstream, Santa Anita, Turf Paradise and Hawthorne running.
One option: OTBs could just stay open and face the consequences. New York City OTB did just that back in 2003. The handle was about $1.5 million – and OTB was fined $5,000.
Easy money.