Montreign casino finishes financing
The upcoming New York casino finalised its financing plans.
US.- Empire Resorts Incorporated, the operator of the upcoming New York casino Montreign Resort Casino, announced that the company finished the final details of the financing plan they needed for the US$1.2 billion project.
The subsidiary Montreign Operating Company obtained a US$485 million loan that is separated in two different dates. Executive Vice-President for Empire Resorts Incorporated Charlie Degliomini said to the Times Herald-Record that this deal will provide more than US$500 million so they can complete the financeng they needed for the project. “It’s an important milestone for Montreign,” he said. The operator paid the required US$51 million licensing fee on April 2016. Ten 10 percent of the licensing fee will be shared among local counties and the town of Thompson. Empire Resorts also deposited a bond with the New York State Gaming Commission that represented 10 percent of the proposed capital investment for the project.
The US$1 billion casino resort is being built in the Sullivan County town of Thompson in the Catskills. The complex will feature a 80,000-sq. ft casino, 390 hotel rooms and suites, resort amenities, casual and gourmet restaurants, spa and salon, conference and meeting rooms and banquet facilities. Montreign Resort Casino is scheduled to open to the public in 2018.
