Golden Nugget deadline draws near

As reported by The Sun Herald

BILOXI, Mississippi - Some Point Cadet property owners are worried that drawn-out negotiations between the city of Biloxi and a casino developer may kill the deal for the Golden Nugget.

Landry's Restaurants Inc., which owns the Golden Nugget casinos in Las Vegas and Laughlin, Nevada and the brand name, has an option to buy several privately owned parcels on Point Cadet, but the company also needs waterfront property owned by the city. George Sekul, one of the private property owners, told the Biloxi City Council on Tuesday that Landry's needs to know by December 15 if the city wants to do business with the company.

"This morning I got word from them that they needed to know from the city by December 15 one way or the other whether they were going to have a deal," Sekul said.

Sekul and others organized Gulf Star Inc. so several small parcels of property could be assembled and marketed to a potential casino developer. Landry's has agreed to purchase the 5.4 acres of private property for $11.25 million, Sekul said, and the money would be distributed by a square-foot assessment. Landry's option with Gulf Star expires December 23.

Landry's has already extended its option twice, Sekul said. Landry's first approached Mayor A.J. Holloway about the proposed Golden Nugget and Biloxi Boardwalk in August. Landry's officials presented the plans to the City Council last month.

Mayor Holloway did not respond to Sekul's comments and did not return a telephone call from the Sun Herald. Jeff Cantwell, senior vice president of development for Landry's, also did not return a call from the newspaper.

Another casino company, Isle of Capri Casinos Inc., has a right of first refusal to the city land Landry's wants for its boardwalk development. Holloway has said the city will do business with whichever company presents the better deal.

The Isle of Capri has made no public presentation on what it would do with the property. Landry's presented plans for a $400 million waterfront attraction that would employ 3,000 people, 1,800 of them in the casino and accompanying hotel. The development would be similar to the Kemah Boardwalk near Houston.

The Biloxi project would have a 150-foot-tall Ferris wheel, thrill rides, dancing fountains and restaurants.

Senecas begin work at third casino site
As reported by timesunion.com

BUFFALO, New York - The Seneca Indian Nation broke ground last Thursday on its third western New York casino, promising a world-class resort that will strengthen not only the tribe but the entire region.

A wrecking ball crashed into a vacant brick warehouse as the Senecas began clearing their newly purchased -- and newly sovereign -- nine-acre parcel on the city's western edge.

Seneca leaders hailed it as a reclaiming of land lost centuries ago from their Buffalo Creek territory.

"Today is really a truly wonderful homecoming for the Seneca Nation and its people," Seneca President Barry Snyder said.

Under a 2002 agreement with the state, the Senecas had to begin construction by Friday or risk losing exclusive building rights to another tribe. The Senecas have until Dec. 9, 2007, to have the casino up and running.

The Buffalo casino faces opposition, and probable legal challenges, on two fronts: from gambling opponents who fear it could increase bankruptcy, divorce and crime, and preservationists, who want to save a 1914 out-of-service grain elevator, a remnant of Buffalo's milling past, from being demolished.

The casino "is not a done deal," said Joel Rose, co-chairman of Citizens Against Casino Gambling in Erie County, who was surrounded at the groundbreaking by fellow protesters with signs reading "Don't gamble with our future" and "Build business, not casinos."

"Obviously, sometimes there's a price to pay for progress," said Mayor Anthony Masiello, who fought for the casino based on its potential for jobs and revenue.

The 100,000-square-foot casino is expected to employ 1,000 people with an annual payroll of about $50 million. Seneca officials expect to give Buffalo $5 million to $7 million out of the casino's slot machine revenues the first year.

"What's good for the Seneca Nation is good for western New York and vice versa," said Richard Nephew, chairman of the Seneca legislative council. "As we revitalize our own nation, we cannot help but revitalize western New York.

A national search for a casino design will begin in the next few weeks, said John Pasqualoni, president and chief executive of Seneca Gaming Corp. The Senecas envision a "signature destination," Pasqualoni said, with 2,200 slot machines, 50 gaming tables, restaurants and parking for 2,500 cars.

With the Buffalo casino, the Senecas hope to build off the success of their 3-year-old Niagara Falls casino and year-old Salamanca casino, which both enjoy steady business.

Under the compact, the state and host cities receive 18 percent of the casinos' slot machine revenues through 2006, with the state getting three-quarters of the money and the host community one-quarter. The state and local share increases to 22 percent after that, eventually reaching 25 percent in 2010.

The Seneca casinos have turned over more than $100 million to New York State so far, Snyder said.