Yet another contender has entered the fray for the three casino licenses being offered for downstate New York, making a total of nine operators who have expressed interest in the licenses for the region which includes the Big Apple, the country’s most populous city.
Michael “Buzzy” O’Keefe - the restaurateur behind the city institution, the River Café – submitted a written proposal for a “Monte Carlo”-style casino near another one of this restaurants, the Water Club, on East 30th Street and the East River.
While O’Keefe is an accomplished restaurant promoter, he has no experience in casino operations, and it is still unclear who he would choose as a partner.
His proposal contains details that would be objectionable to veteran operators, such as the suggestion that – in order to keep an air of classiness about the place – there be no slot machines but only table games.
In his proposal, O’Keefe wrote: “In the borough of Manhattan, from river to river, this is the most viable location to place a smaller boutique (Monte Carlo) style casino that is easily expandable. An upscale Monte Carlo style casino on the East Side, Mid-Manhattan, and very visible along the FDR Drive on the East River.”
The proposal also set out some of the construction plans: 24,000 square foot casino with a 100-car parking lot. The casino would be built over an “open deep-water pier” meaning that one of New York’s casinos could technically be a river casino. There would be a nearby helipad constructed, as well as a private ferry service for high rollers.
O’Keefe noted that a river construction, slightly out of the way from the hustle and bustle of the city while still relatively accessible, would be the ideal location: “Building on the waterfront is far less expensive than building in Midtown Manhattan. It is the easiest deal for the state and the city to make, as it already exists, and is ready to go.”
The quest for downstate New York casino licenses is a closely watched one. One study conducted by the state gaming commission found that the three new casinos could generate $420m-$640m a year in revenue.
