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Caesars Applies For Casino License In New York

Company Wants To Build $750 Million Complex In Woodbury

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Caesars Entertainment Corp. is looking to expand to the state of New York, which authorized four Las Vegas-style commerical casinos last year.

According to reports, Caesars is eyeing a $750 million project around 50 miles north of Midtown Manhattan. The application cost the firm $1 million.

The project would be built in the town of Woodbury, N.Y.

The New York Times reported that 16 firms have so far expressed interest in building in Upstate New York. Four are looking at the same county as Caesars.

Some are worried that more gambling would hurt the existing gambling industry in New York, and thus not benefit the economy like the governor has predicted.

Right now, Caesars has four casinos in Atlantic City and a racino in Philadelphia.

The New York Times reported that Las Vegas Sands, MGM and Boyd Gaming also considered building in upstate New York, but only Caesars decided to apply.

Caesars is currently building a casino in Baltimore. Not long ago, the firm backed out of a plan to pursue a casino in Boston. Caesars has more than 50 casinos worldwide.

The World Series of Poker is owned by an offshoot of Caesars.

 
 
Tags: New York,   Caesars