Big plans for Poconos
Jun 5 2006 in Events and Outings by thestarter
[Greg] Matzel is leading a group that plans to invest $1.4 billion in Pocono Manor. The lynch pin to that plan is a gaming license that would allow up to 5,000 slot machines.
Chief competition for that license is Dunmore businessman Louis DeNaples, who plans to invest $360 million to turn nearby Mount Airy Lodge into “the signature resort of the Poconos” by Fall 2007.
The pair is vying for one of two stand-alone slots licenses reserved for municipalities outside Philadelphia and Pittsburgh. Matzel is not sure what direction he’ll take without the license. DeNaples has said he will forge ahead regardless.
To some, Matzel is the outsider in this showdown. Naturally, they want to know, “Why the sudden interest in a casino?” and “Why here?”
“Because of Act 71,” he said matter-of-factly during a recent interview, referring to the 2004 state law that authorizes 61,000 slot machines at 14 locations.
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