ALBANY, N.Y. – Members of Albany's Common Council heard a proposal Friday to bring a casino and resort to Albany.
The CEO of Flaum Management and President of the Capital District OTB briefed members of Albany's Common Council on "Project E23."
The proposal calls for a casino and resort to be built in Albany near exit 23 off the Thruway. The project would not include a concert facility or entertainment venue, but that it would include a 40,000 square foot water park, arcade game room, and an outdoor recreational trail system.
The proposed casino would be 63,000 square feet with a 275 room resort style hotel.
David Flaum, Chairman and CEO of Flaum Management and John Signor, President of Capital District OTB, explained the project that represents an Albany-based Casino and Resort.
Statement issued by David Flaum and John Signor:
"We are excited to have the opportunity to make our one of a kind presentation for to the Common Council. Our $300 million dollar ‘E23' plan will create 1,800 permanent jobs, 1,500 construction jobs, and provide millions in revenue for many upstate communities that need it. Our plan fits seamlessly with all the inherit beauty and history of Albany.
Because of the project we are announcing tomorrow, and due to the location within the city limits, both the County and City will receive a windfall of revenue that will provide significant resources to their budgets. The City of Albany's Host Community revenue of $11.4 million will be split with Albany County, additionally the City will get a property tax infusion of $5 million. In total, the City will receive an estimated more than $10 million annually.
We look forward to having the opportunity to earn the support of city's elected officials and community leaders. Tomorrow is the start of an exciting new era for the Capital Region."
341 Northern Blvd., Albany, NY 12204
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