Is there place for another gambling facility in the already oversaturated market place? Well it seems that many in the business think that there indeed is. One such person is businessman Jeff Gural who wants to be part of this expansion.
Already having been rejected for this planned project, he was forced to make modifications to his plans and resubmit. And this is what he did.
Jeff Gural, who owns Tioga Downs, drew up his new plans which calls for a $147 million expansion of his current structure. It should include another two restaurants, the 160-room hotel, and a concert hall which can accommodate 10,000 people. Gural said he made the recommendations last year.
“There’s not a lot not to like,” Kevin Law said after listening to Gural’s new and improved presentation. Law is one of the three members of the gaming facility location board who makes decisions on such expansions. “You know everything is negotiable at the end, and those are some of the questions we raised at the end and that’s something we’re going to have to sit down with our experts and consult over. We need to do some number crunching”.
But, despite opposition and a few finer details that they are not in agreement over, the board appeared happy with what they heard. Law had already warned Gural that the council would need to see major changes this time and that could not simply put “lipstick on a pig” and expect to get the license.
“If I didn’t increase business a penny, I’d make enough to pay the debt, and you have to assume that building a hotel and table games will generate some money,” said Gural.
Gural estimates the expansion could generate about $30 million a year.