Churchill Downs Inc. is joining Saratoga Casino and Raceway to bid for the license to build a $300 million casino resort in New York state.
The project in East Greenbush, south of Albany, would create 1,700 construction jobs and 1,700 permanent jobs, and it would generate almost $30 million in tax revenue annually for the city and region around the state capital, according to a joint news release announcing the partnership.
"Churchill Downs Incorporated is thrilled to expand our presence in New York state through our partnership with Saratoga Casino and Raceway," said Bill Carstanjen, Churchill's president and chief operating officer. "Together we'll deliver a destination resort casino that will create reliable revenues for the entire capital region, generate thousands of jobs, and be best positioned to keep New York gaming dollars in New York."
Churchill Downs Inc. is the Louisville-based parent company of the Kentucky Derby racetrack.
Saratoga Casino and Raceway operates gaming, racing and entertainment venues in three states, including Ellis Park in Henderson, Saratoga Casino Black Hawk in Colorado and the Gideon Putnam Hotel and Resort in Saratoga Springs, N.Y.
The proposed casino, which would be Churchill's seventh, would include a 300-room resort-style hotel; restaurants; multiple entertainment venues, with a night club, sports bar and showroom; and 20,000 square feet of high-end retail.
Saratoga was one of 22 companies that submitted $1 million applications to bid on one of four casinos to be built in upstate New York.