Caesars Acquisition Company and Caesars Entertainment Corp today unveiled the proposed development to bring Caesars to New York. If plans go ahead, Woodbury New York will become home to a $880 million luxury casino resort. This afternoon, Caesars Acquisition Company, through its subsidiary, Caesars Growth Partners, submitted its application to the New York State Gaming Facility Location Board for a gaming license, which will be managed and operated by Caesars Entertainment and its affiliates. The application details plans for the resort and presents information about Caesars' operations and history.
The Projected resort will be located on a wooded 115-acre site in the heart of the Hudson Valley. It will consist of approximately 300 luxury hotel rooms, suites and villas, 2,560 state-of-the-art slot machines, 190 table games and 50 poker tables. The poker room will carry the World Series of Poker brand and become a leading East Coast home to the WSOP and its events, many of which are broadcast on ESPN. The resort will also house an expansive entertainment and business space, alongside a luxury spa and fitness center.
Additionally, the resort will include a world class dining program. There are six planned dining options which range from fine dining to a Streets of New York food hall. The property will potentially include restaurants from some of the celebrity chefs who work with Caesars across its network of properties. Chefs Gordon Ramsay and Nobu Matsuhisa have both expressed interest in developing restaurants at Caesars New York
Based on current estimates, Caesars projects an estimated total of $230 million in anticipated annual tax revenues with $29 million annually going to the local community and $10 million to Orange County. The project is anticipated to create approximately 4,500 direct jobs including 1,500 construction jobs and approximately 3,000 permanent, well-paying, mostly union jobs.
The development also hopes to bring some benefits to the local community. Caesars has entered into host community benefit agreements which will see the company making various payments which are intended to mitigate the project's impacts on the host communities as well as investing in local workforce and businesses.
Caesars has also committed to invest a minimum of $20 million to improve traffic circulation near the proposed resort, including funding a substantial portion of the long-delayed improvements at Exit 131 on the New York State Thruway.
We have a tremendous opportunity to bring the Caesars brand to New York State and create a world-class entertainment facility, adding a new destination the Total Rewards loyalty network and attracting visitors from throughout the region and around the world," said Gary Loveman, chairman and chief executive officer of Caesars Entertainment.