Caverns' Galasso stands behind pick for casino

7/8/2014

By Patsy Nicosia

Emil Galasso is standing behind his pick to develop the Howe Caverns Resort and Casino.
And he's confident the state Gaming Commission will too.
On June 30, HCRC became one of five projects to file an application for a Capital Region casino license.
Michael Malik, a Michigan casino developer, is financing and will own the project, and Full House Resorts, which is headquartered in Nevada, will run it.
Mr. Malik has drawn attention for a past that includes allegations of improper political donations and financial dealings.
But Mr. Galasso said he's well aware of that and still believes Mr. Malik is the best man to develop the $450 million resort and casino at Howe Caverns.
"As in everyone's life, he's done things he shouldn't," Mr. Galasso said. "I did everything I could to verify him and Full House did too. They don't have a problem with Mike and neither do I.
"In your application to the state, you have to put your whole life out there. I did. He did too. And that's who'll be making the final decision: the state."
The proposed HCRC includes a world-class casino and a 10-floor luxury hotel, along with a water park, restaurants, and a second hotel, and the addition of a dinosaur theater at Howe Caverns.
Competing with HCRC are projects in Schenectady, Rensselaer, East Greenbush, and Amsterdam; the state Gaming Commission will name the winner in the fall.
Mr. Galasso said he's not surprised that allegations over Mr. Malik's past surfaced so soon after the applications were filed.
This is the point in the process where applicants "will try to destroy each other any way that they can," he said.
"There are always people who will try to destroy anything. I don't take it personally."
"Mike's led a colorful life, but I believe the facts: There are no criminal charges. He holds four gaming licenses. I'm willing to let the truth surface."
Mr. Galasso said he could have chosen a different developer for the project, but some of those involved in other Capital District projects are even more questionable than Mr. Malik.
"I knew this was coming," he said. "Let the chips fall where they may. I still feel we have the best application."