- Associated Press - Monday, December 8, 2014

NEW YORK (AP) - Nassau Regional Off-Track Betting is negotiating a contract to buy property for a mini-casino.

OTB president Joseph Cairo tells Newsday (https://nwsdy.li/1w55b2G ) Nassau OTB is expected to pass a resolution Monday authorizing the agency to float up to $100 million in tax-exempt bonds to buy and develop the proposed casino site.

He declined to reveal the location, citing a confidentiality agreement with the property owner.

Cairo says the cost would be less than $100 million but that the figure reflects the “ceiling” for borrowing for the project.

The gaming parlor would have 1,000 video slot machines and table games. It’s expected to open in 2015.

A spokesman for the county says it has been informed but declined to elaborate.

The New York State Gaming Commission didn’t’ return a call for comment.

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Information from: Newsday, https://www.newsday.com

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