Wednesday, February 28, 2007

Just as Louis DeNaples received the go-ahead from the state of Pennsylvania
to open a slots casino at Mount Airy Lodge in the Poconos, word comes out
that an Indian tribe has plans to open a huge casino in the Catskills - not
far away - and those plans are moving forward. The St. Regis Mohawk Tribe
plans a $600 million casino at the existing Monticello racetrack. This
casino would have slot machines and table games such as blackjack, craps and
poker. The plan has the support of New York's governor. It only needs
federal approval for the tribe to buy non-tribal land to become a reality.
Mount Airy will not have table games at the present time and it's a
certainty that some of its would--be customers will go to the Mohawk casino
if it opens. This also raises the questions of projections of revenue for
property tax reduction in Pennsylvania. If fewer gamblers play at Mount
Airy, will fewer dollars be generated for property tax reduction? We hope
not, but we fear so.