THOMPSON, NY-Louis Cappelli, a Westchester developer, isplanning to convert the vacant parcel of the Concord Hotel in theCatskills into a gaming resort. The $600-million plan recentlyproposed by Cappelli will include a 260-room hotel, a75,000-square-foot casino, five restaurants and a harnessracetrack.

Beginning of this year, Cappelli hired the Mohegan Tribal GamingAuthority to manage the proposed casino. In order to carry out theproject, Cappelli has to raise nearly $450 million to finance theproject. For the full story, go to Wall Street Journal . News Hub is your link torelevant real estate and business stories from other local,regional and national publications.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.