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 .
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