Industry
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Developer Moves Forward with Billion-Dollar Catskills Project
May 9, 2008
Source: New York Times
For 20 years, Indian tribes and developers tried to bring a Vegas-style casino to the Catskills. But the federal government said no, leaving the region without many other prospects. Within the last decade, developer Louis Cappelli has been purchasing properties with the intent to bring the Catskills back to their former glory. On the site of the former Concord hotel, Cappelli is developing a billion-dollar mega-resort known as Concord Entertainment City. The project would involve relocating the nearby Monticello racetrack and its slot machines to the site, as well as the addition of several hundred hotel rooms, convention space, and 500 vacation homes.
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