- Associated Press - Tuesday, May 13, 2014

ALBANY, N.Y. (AP) - Churchill Downs Inc. is joining an effort to bring a $300 million casino resort to the Albany area.

The Louisville, Kentucky-based company says Tuesday it is joining with Saratoga Casino and Raceway in a bid to develop a casino across the Hudson River from Albany in the town of East Greenbush. The company owns and operates the Churchill Downs Racetrack, home of the Kentucky Derby.

The state this fall will award licenses for up to four upstate New York casinos. The East Greenbush resort is one of up to 22 casino potential proposals. Applications are due June 30.

The two companies say the project would include a 300-room hotel, restaurants and high-end retail shops. The resort is projected to create 1,700 permanent jobs.

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