Luxury Resort in the Catskills May Depend on Gaming License

5185_wpm_lowres

The Catskills were once a prime vacation destination for New Yorkers, but the popularity faded over the years. Now, according to a Wall Street Journal article, that may all change.

For more than a century, the Nevele Grande Hotel was a classic Borscht Belt resort in the mountains, featuring comedians like Buddy Hackett and Milton Berle. Now, a group of investors are trying to revive the shuttered resort as a full-scale casino and luxury resort.

Claremont Partners plans to raze most of the old buildings and put in their place a 450-room hotel, golf course, spa, winter lodge and a restored ice-skating rink, all in the shadow of the Shawangunk Mountain Ridge about two hours northwest of Manhattan.

But the entire project hinges on securing a New York casino gambling license—something that doesn't yet exist. Claremont is one of the first contenders to jump into the still-informal contest to open a New York casino, the leading edge of a flurry of expected interest following a political deal this year to legalize gambling.

Claremont bought the Nevele out of receivership for $2 million in April, about three years after the hotel closed having accumulated $21 million in debt. The property included a once highly regarded 18-hole golf course and a nine-hole golf course that are also closed and have fallen into disrepair.

The partnership will present additional details about the 500-acre, $500 million project to Wawarsing town officials, in preparation for a state environmental impact assessment.

 

Suggested Articles:

From strolling along the waterfront at Nyhavn to picnicking onboard a little boat while floating through the city's waterways.

Now called Maison Albar Hotels L’Imperator after a renovation, this legendary hotel was once frequented by Ernest Hemingway, Ava Gardner and more.

Slated to open in October 2020, andBeyond Punakha River Lodge will be the travel company's first foray in Asia. Check it out.