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Rivals criticize Gettysburg casino plans
By MEG BERNHARDT
Hanover Evening Sun
December 6, 2006
Slots investors from the Poconos fired shots Tuesday at a competing proposal near Gettysburg, saying among other things that Gettysburg would draw fewer gamblers and bring in less money.
The state Gaming Control Board on Tuesday convened two hearings for separate proposals in the Poconos, each of which is competing against Crossroads Gaming Resort and Spa and others for one of two coveted licenses for a standalone parlor outside of Philadelphia or Pittsburgh.
Investors with Pocono Manor Resort & Casino said the project, if approved, could become the most attractive gambling destination for 16 million people in the New York City area. But backers of Mount Airy Resort & Casino said that project would make more money in the first five years, meaning more tax revenue for the state.
In laying out its testimony, Pocono Manor on a few occasions made mention of the Crossroads project, proposed near routes 15 and 30 in Straban Township.
"Clearly Pocono Manor was going for blood today because they've got a lot of holes, so they're attacking anybody they can," said Crossroads spokesman David La Torre, who sat in on the two hearings.
No Casino Gettysburg member Keith Miller, who also attended the hearings, said Pocono Manor's singling out of Crossroads and Mount Airy might indicate it views the projects as threats.
"I think that the applicants made compelling arguments that the Poconos are well situated to a rich, North Jersey-New York City market that could drive significant revenues into Pennsylvania," Miller said.
Pocono Manor representatives said the project would create 3,000 jobs, three times as many as Crossroads. But La Torre, who for months has said the Crossroads proposal would create 3,000 jobs, said the numbers cited by Pocono Manor didn't take into account those created in off-site "spin-off" tourism.
Pro Casino Adams County member Jeff Klein said many of complaints with Crossroads could be turned around. For instance, Klein said the Poconos applicants have said there aren't enough unemployed people in Adams County to fill Crossroads jobs. But he said there's problems finding workers in the Poconos, where few people live.
Klein said the testimony was meant to discredit the Crossroads project.
"If they can knock another one out, they are going to find some way to do it," he said.
He said he hopes a casino in Adams County will fuel the local economy.
"Tourism and gaming feed off of each other," Klein said. "You need look no farther than Charles Town, within a few miles of Harper's Ferry and Antietam (historic sites)."
La Torre said Crossroads plans in its hearing next week to show the Baltimore-Washington metropolitan market will yield the most revenue for Pennsylvania.
He pointed out both Poconos resorts will cost more to build – $750 million for Pocono Manor and $659 million for Mount Airy – but have lower revenue projections.
"In cost, they are twice as expensive as Crossroads, but simply won't yield as much revenue and we look forward to making our case to the Gaming Control Board next week." La Torre said.
Crossroads predicts its $350 million resort, spa and slots parlors will produce about $300 million in revenue for the state.
But Miller pointed out the board could be swayed by other factors. And he questioned whether Crossroads has satisfactory financial backing since its largest investor, Morgan Stanley, backed out of the project last month to be replaced by Silver Point Capital LP, a Greenwich, Conn. private-investment firm.
"Both Pocono Manor and Mount Airy showed up with very credible and solid financial backing," Miller said. "Crossroads has a lot of catching up to do on that."
Eric
By MEG BERNHARDT
Hanover Evening Sun
December 6, 2006
Slots investors from the Poconos fired shots Tuesday at a competing proposal near Gettysburg, saying among other things that Gettysburg would draw fewer gamblers and bring in less money.
The state Gaming Control Board on Tuesday convened two hearings for separate proposals in the Poconos, each of which is competing against Crossroads Gaming Resort and Spa and others for one of two coveted licenses for a standalone parlor outside of Philadelphia or Pittsburgh.
Investors with Pocono Manor Resort & Casino said the project, if approved, could become the most attractive gambling destination for 16 million people in the New York City area. But backers of Mount Airy Resort & Casino said that project would make more money in the first five years, meaning more tax revenue for the state.
In laying out its testimony, Pocono Manor on a few occasions made mention of the Crossroads project, proposed near routes 15 and 30 in Straban Township.
"Clearly Pocono Manor was going for blood today because they've got a lot of holes, so they're attacking anybody they can," said Crossroads spokesman David La Torre, who sat in on the two hearings.
No Casino Gettysburg member Keith Miller, who also attended the hearings, said Pocono Manor's singling out of Crossroads and Mount Airy might indicate it views the projects as threats.
"I think that the applicants made compelling arguments that the Poconos are well situated to a rich, North Jersey-New York City market that could drive significant revenues into Pennsylvania," Miller said.
Pocono Manor representatives said the project would create 3,000 jobs, three times as many as Crossroads. But La Torre, who for months has said the Crossroads proposal would create 3,000 jobs, said the numbers cited by Pocono Manor didn't take into account those created in off-site "spin-off" tourism.
Pro Casino Adams County member Jeff Klein said many of complaints with Crossroads could be turned around. For instance, Klein said the Poconos applicants have said there aren't enough unemployed people in Adams County to fill Crossroads jobs. But he said there's problems finding workers in the Poconos, where few people live.
Klein said the testimony was meant to discredit the Crossroads project.
"If they can knock another one out, they are going to find some way to do it," he said.
He said he hopes a casino in Adams County will fuel the local economy.
"Tourism and gaming feed off of each other," Klein said. "You need look no farther than Charles Town, within a few miles of Harper's Ferry and Antietam (historic sites)."
La Torre said Crossroads plans in its hearing next week to show the Baltimore-Washington metropolitan market will yield the most revenue for Pennsylvania.
He pointed out both Poconos resorts will cost more to build – $750 million for Pocono Manor and $659 million for Mount Airy – but have lower revenue projections.
"In cost, they are twice as expensive as Crossroads, but simply won't yield as much revenue and we look forward to making our case to the Gaming Control Board next week." La Torre said.
Crossroads predicts its $350 million resort, spa and slots parlors will produce about $300 million in revenue for the state.
But Miller pointed out the board could be swayed by other factors. And he questioned whether Crossroads has satisfactory financial backing since its largest investor, Morgan Stanley, backed out of the project last month to be replaced by Silver Point Capital LP, a Greenwich, Conn. private-investment firm.
"Both Pocono Manor and Mount Airy showed up with very credible and solid financial backing," Miller said. "Crossroads has a lot of catching up to do on that."
Eric