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22 developers in casino pot likely to dwindle

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A generous refund policy and the potential for partnerships means the number of applicants seeking New York casino licenses will likely be whittled down in the months to come.

The state has received 22 application fees of $1 million each from developers and casino operators hoping to obtain one of four casino licenses to be awarded this year, the state Gaming Facility Location Board announced Thursday.

But there are a number of variables that will likely bring the total number of applicants down significantly before the licenses are handed out.

The $1 million fee, which is reserved for investigating the applicants and their proposals, is fully refundable until the state board announces the minimum total investment required for a license, which is expected to come in early May.

Even after that, any portion of the fee that hasn't been spent by the state is refundable if an applicant withdraws before the licenses are awarded.

"I think (the fee) is a door opener, a placeholder for some people," said John Sabini, the former chairman of the state Racing and Wagering Board. "Obviously, there are some real contenders in here and some who are more interested in horse trading or jockeying."

Of the 22 application fees, 18 are from developers or casino operators who have laid out their intentions for one or more casinos or have at least signaled which region of the state they intend to pursue. The four licenses being awarded this year are reserved for the Southern Tier, the Albany area and a Catskills-centric region that stretches south to Orange County.

Of the remaining four, two were submitted by groups with generic names -- Hudson Valley Gaming LLC and Capital Region Gaming LLC -- that make it difficult to assess who is behind them. A receptionist at the office of John Donnelly, the New Jersey-based attorney associated with the two groups, said Friday he is currently on vacation and couldn't be reached.

Two other groups who submitted a fee -- Och-Ziff Real Estate and Rolling Hills Entertainment LLP -- have declined to reveal their intentions. The state has declined comment on the list of applicants, but is hosting a mandatory applicant conference on Wednesday near the Capitol.

The uncertainty surrounding some of the applicants and the fact that some developers are still looking to partner with casino operators leaves open the potential for deal-making, which could further cut down the total number seeking a license, according to Sabini.

Rochester-area commercial developer Wilmorite is one of three companies looking to build a casino in the Southern Tier region. James Wilmot, the company's chief operating officer, said the developer has yet to partner with an operator, but has been negotiating with several.

"We have financial commitments, but none from operators at this point," Wilmot said. "We already have commitments from banks for all of the debt, so we feel very confident we are capable of doing this and we are exploring our options, but we have not committed with anybody at this point."

Another Rochester-area developer, David Flaum, came to an agreement this week with casino giant Caesars Entertainment for a proposed facility near Woodbury Commons in Orange County, 50 miles north of New York City.

But Flaum is also pursuing a $350 million casino in the city of Albany, and Flaum Management wasn't specifically attached to any of those who submitted a fee.

A spokesman for Flaum confirmed a casino operator had submitted a fee for the Albany project, but declined to say which one, citing a non-disclosure agreement.

The next step for those pursuing a license is the mandatory applicant conference on Wednesday. Each group that submitted a fee is required to send a representative.

From there, a formal proposal is due June 30. The Gaming Facility Location Board has signaled it intends to announce its decisions in the fall.

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Here are the entities that submitted a $1 million casino application fee in New York:

1. Caesars Entertainment

2. Capital Region Gaming, LLC

3. Concord Kiamesha LLC and Mohegan Gaming New York LLC by DelBello Donnellan Weingarten Wise & Wiederkehr LLP - Catskills

4. CRCR Enterprises, LLC by The Cordish Companies

5. Empire Resorts

6. Florida Acquisition Corp by Clairvest

7. Greenetrack , Inc.

8. Grossinger Development Corporation

9. Howe Caves Development LLC

10. Hudson Valley Gaming, LLC

11. Nevele-R, LLC by Nevele Resort, Casino & Spa

12. NYS Funding, LLC by Och-Ziff Real Estate

13. OCCR Enterprises, LLC by The Cordish Companies

14. PNK Development 33, LLC by Pinnacle Entertainment

15. Rolling Hills Entertainment LLC by Baker Botts LLP

16. RW Orange County LLC by Cleary Gottlieb Steen & Hamilton LLP (Genting Group)

17. Saratoga Harness Racing Inc. (I)

18. Saratoga Harness Racing Inc. (II)

19. Tioga Downs Racetrack LLC

20. Trading Cove New York, LLC

21. Traditions Resort & Casino

22. Wilmot Casino & Resort by Wilmorite, Inc.

Source: New York State Gaming Facility Location Board

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