Video Lottery Terminals – a hot topic this week up in Albany

Hudson Valley Resort

Press Release
June 20, 2014
From the Desk of Eliot Spitzer, Owner of Hudson Valley Resort

Video Lottery Terminals (“VLTs”) for our resorts, to save and create jobs, became a hot topic this week up in Albany. VLTs offer a solution to keep The Granite at Hudson Valley Resort viable, and would be a great amenity for the property, no different than our golf course or spa, only that the VLTs will generate a profit. It would allow the few old Catskill resorts that remained open all these years through the toughest of times, to not only survive but allow us to thrive. It will be a great compliment to the large casinos that will soon come to our area. Having VLTs will allow us to invest millions of dollars to renovate and bring our properties back to the life they once had. We will become a seven-day-a-week operation, not just weekends and summers. Not only will we be able to give more hours and better pay to our 160 current employees, but we will be able to double our employment. We will be able to purchase three times the amount from our local suppliers. We will be able to contribute millions more in tax revenue to the County and State. On the other hand, without such a solution we will not be able to afford a much needed renovation in order to compete in the Tri-State area let alone surviving when the large casinos open in our backyards.

We had amazing support from our representatives in Albany; Assemblyman Cahill and Senator Seward and their amazing staffs. They understood our plight and they care for our employees who are local residents. They see this as a win-win for everyone. They want people to have better jobs with more hours, and want to give local businesses the ability to create more jobs. They want to preserve the businesses in their areas, which mean so much to their communities and have been around for so many years. They worked tirelessly to bring the issue to the forefront. Just a few weeks ago no one knew about this issue and today, with their efforts, everyone in Albany is fully aware and wants to help.

Now that we got to this point and have significant support for the idea, we are going to step back and wait for the casino location process to take its course, as that is the County’s priority at this time. We fully support bringing casinos to Ulster and Sullivan Counties as our area needs the jobs and economic growth the most. They expect to choose the casino locations this fall, after such time, in coordination with Ulster and Sullivan Counties, we will continue our efforts to complete what we started. I want to personally thank everyone who worked so hard on this issue, including our Town Supervisor Carl Chipman who gave us the support, time, and care that this warranted. I also want to thank Orest Fedash our General Manager and our awesome employees who work tirelessly to make all of our guests feel welcome at Hudson Valley Resort. I am very excited about our prospects and what we will be able to accomplish in the very near future.

Eliot Spitzer
Owner of Hudson Valley Resort

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4 Responses to Video Lottery Terminals – a hot topic this week up in Albany

  1. Rebuttal. says:

    Mr. Spitzer, you seem like a nice guy with an exaggerated altruistic attitude. First of all, I can’t blame you for trying to jazz up you hotel, the more who visit, the bigger the cash flow, pure entrepreneurship, but so is making porn flicks, think of all the actors, laboratories, equipment rentals, theater rents, ticket takers, mops and rubbers that endeavor supports. And there’s always the gowns, tuxes and parties on award night. It’s all about hustling one’s perception.

    Surely your amazing friends in Albany, with their amazing staffers, must expect kickbacks of charitable campaign donations or PAC from the heart contributions, no? The way you toss around millions upon millions aren’t you concerned Johnny Appleseed will get splinters from rolling around in his pine box with jealousy? Your resort seemed filled, or at least the pool did, aren’t you make money now?

    Be aware, local banks will easily hook you on your own dream, remember if they lose they can write off its failure with new fees. You probably can’t afford expensive hi-tech slots, you’ll have to rent them, will you have slot partners, or bosses? What will you do if it doesn’t work out, try to convince your amazing friends to let you put in a gaming table or two?

    In reality you only have to put in new rugs and paint the walls, for the majority of those who throws quarters into a machine can ill afford to stay over night, unless you plan to give away a lot of comps. Nobody drives long distances to play slots, you’ll have to entice them with free bus rides and lucky red quarters.

    Let’s add a little transparency and throw around some other numbers by presenting sub chapter S, you know, the corporate obligations that must spell out warnings and negative possibilities, or doesn’t the bank insist on seeing that? For instance; at least 30% of your clients will be limited to addicts blowing their welfare checks, who cares if their prayers go unanswered, it’s all about the thrill of illusion. 40% of your clients will be lonely old people on social security, who compulsively love the lights and spinning wheels, yet who’d be better off cutting out the middle man and giving that money directly to Central Hudson. By the way, will you take food stamps? Let’s say the other 30% are there because movies and T.V. bore them. I’ve been to many Gamblers Anonymous meetings filled with slot junkies, I couldn’t believe people get seriously addicted to one arm bandits, but they do, check it out.

    Foxwoods’ deal gives Connecticut all the revenue from its slots, in its heyday it was 60 million a year, their real revenue is from its other gaming endeavors, which you will never have. Don’t go crazy, just throw in a couple of rows of cheap old fashioned slots and forgetaboutit, gambling is a dirty business, don’t try to make us believe it is something it is not, but hey, I understand, business is business.

    Bill Dukas
    Successful Loser.

  2. bubbaband says:

    I dont want the kind of people who frequent VLT’s in my area!
    No
    No
    No
    Trashy people.

  3. Band fan says:

    Judge much Bubba? There are a lot of people who could say the same thing about people in the music business. Drugs, alcohol, immoral behavior and other such stereotypes. Take a step back bro, you are out of line on this one.

  4. dukas says:

    Bubba, you are wrong about it.

    The majority of slot players will be local people, your neighbors who are on government stipends. There is a difference between one arm bandit’s whose bets range from 5 cents to quarters, dollar slots are rare and don’t forget in order to win the bonuses one has to put in 3 coins at a time. A lot of nickels and quarters can be dropped in an hour. A compulsive slot player usually loses 100 to 500 dollars a night.

    Where table stake minimums usually start at 10 dollars, 25 dollars, 50 dollars and a $100. One can easily lose thousands sitting at a table, the tables are usually filled with business owners and blue collar workers. I’ve seen many loss their business at the tables, it is a very expensive habit.

    If you win on your first visit or two to a casino, the odds are you are on your way to being hooked, you’ll keep on going back trying to duplicate your first win, thinking that it’s always possible and you’ll chase and chase that first winning moment. It’s best to lose big right away, you’ll suffer that one night and not go back.

    When I used to attend G.A. meetings, Poughkeepsie had the closest ones. 150 miles from any casino, yet their meetings are full. Some places have meetings every night, some 3 times a week. Usually it is two rooms, one with the addicts who are fearful of missing one meeting, and the other room holds the family members who are sticking by. It’s hard to imagine the tragedies… business, families and self esteem destroyed. I noticed it is the young gamblers that end up killing themselves. I personal have witnessed a few and have attended meetings in a couple of countries.

    If one joins G.A. they are sworn to secrecy. They can never talk about the compulsion publicly, that is the terrible price the casinos, who fund the GA, have extolled. The casinos insist the problem remains a secret. Some years ago I went up to Albany to talk about the downside of casinos and the next meeting I attended, they had gotten wind of it and actually demanded I leave and not come back.

    They only respite, as in all compulsions, is the twelve step prayer, it actual works.

    http://en.wikipedia.org/wiki/Gamblers_Anonymous

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