$300M Albany Casino Proposed By Developer, OTB Operator

Law360, New York (March 21, 2014, 3:41 PM EDT) -- Joining the ever-crowded bidding race for one of New York's new gambling licenses is a $300 million casino resort proposed to the Albany City Council on Friday by local developer Flaum Management Co. Inc. and off-track betting operator Capital Gaming LLC.

The plan — so far code-named Project E23 — was unveiled to the Albany Common Council and boasted as an opportunity to bring some much-needed jobs and revenue to the area. On top of building a destination resort that would funnel some $11.4 million in...
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