Resorts World Catskills & Sullivan County NY

8 Replies

Hi All! 

I've been thinking about investing in the Thompson, Monticello, and Ellenville markets as we approach the opening (Tentatively March 2018) of the new Sullivan County Casino: "Resorts World Catskills." The strategy would include purchasing both SFH's and Smaller MFH's within the next three months as the Casino nears completion. The resort has been described as a "Four Season" resort, which would include Skiing, Snowboarding, and a Golf Course for summer activities.

I'm originally from the area (orange county) and used to take trips to the "Nevele Resort" in the 90's and although it was very outdated, it had a charm about it and you really couldn't beat the beautiful mountainscape views.  

I understand the stigma (and clientele) that comes along with a casino. but anyway you slice it, jobs will be brought in, and that is exactly what Sullivan County needs. 

Is anyone actively executing this strategy or have opinions/cautions about it? 

Very interesting. Following this thread!

If you find properties that would be decent deals even without the casino, then you're sure to be very successful if it has the promised improving effect on the local economy. If you buy bad deals hoping the area will appreciate, you're still gambling (pardon the pun!)  ;-)

Much luck to you.

Thanks @Moshe H. ! Agreed, and there are certainly deals to be had in the area right now. Couple that with the estimated 2,000 new jobs, new municipal jobs (increased FD + PD presence), long term growth and increased quality of life could be sustainable in the area. However, like you said, the goal is always to make economic weather-proof deals!

I live near a casino and have seen the economic boom it provides. Yes, there is a stigma associated with casinos, but that doesn't change the economics of the area. The obvious jobs in hospitality, food service, dealers, management, etc. provide a sound wage to thousands and provide great opportunities for REI. If you get really adventurous I would AirBnB or look to short term rent a unit. Demand is a constant if you don't mind the daily efforts and turnover.

Hello. I'll have a SFH in Ellenville available for purchase in about 2 weeks.  The home is a well maintained 3 bedroom 2 bathroom 1,935 sqft, 2 level Cape-style home in the Green Acres section of the Village of Ellenville. Close to Zagat-rated restaurants, professional theatre, shops, worship and near the new casino. Anyone interested, send me a note to discuss. Thanks!

There is a stigma when it comes to casinos invading a specific city or town. But the reality is, it will never go so low that you feel like your living in Atlantic City.

Btw, I enjoy this particular casino, it’s classy, great arrangement in terms of its casino floor and hotel, it’s properly supervised and attended on by the security and employees.

I spoke with one of the hosts for high rollers. She told me they are looking to hire a couple more thousand employees, they haven’t even fully opened the entire casino and higher level restaurants are being built. It’s bringing in a good crowd which is always a plus!

Originally posted by @Angie Williams :

There is a stigma when it comes to casinos invading a specific city or town. But the reality is, it will never go so low that you feel like your living in Atlantic City.

Btw, I enjoy this particular casino, it’s classy, great arrangement in terms of its casino floor and hotel, it’s properly supervised and attended on by the security and employees.

I spoke with one of the hosts for high rollers. She told me they are looking to hire a couple more thousand employees, they haven’t even fully opened the entire casino and higher level restaurants are being built. It’s bringing in a good crowd which is always a plus!

 The question is if they will ever get to open the entire casino

Maybe next year when the indoor water park will be open , the hotel will have guests with familys for the water park but the casino won't be too booming as far it looks like now

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