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Developers have proposed a plan to construct a casino along the Indian River Inlet in Sussex County.
The project is the latest in a series of casino proposals including ones for properties in Delmar, Georgetown and Millsboro.
“The casinos that are most likely to succeed are ones located in areas that are already destination locations,” said Bunting, of Coastal Property Investment LLC.
Bunting said he used successful projects in Atlantic City and Las Vegas as models for the proposed 384,000 square foot Delaware Seashore Resort and Casino, which would include 1,500 slot machines, 50 table games and a 100 room hotel and spa complex.
However the proposed site is currently the staging ground for construction of the new Indian River Inlet not slated for completion until 2011.
The site is also state land and therefore requires additional approval from the state.
To make the offer more enticing developers have said they would prepay a performance bond to the state based on projected revenue as well as pay the state 62.25% of its revenues, compared to the 43.5% offered by competing proposals.
The Indian River Inlet proposal also called for an open solicitation of casino proposals by the state Lottery Office, with entries to be vetted by TMG Consulting, the company that issued a study of the state’s gambling industry in January.
A request that did not sit well with rival developer Preston Schell of the Del Pointe Resort and Racino proposed in Millsboro; although he supports an open vetting process, Schell said the possession of approvals by the Delaware Department of Transportation and other agencies should weigh heavily on the legislature’s decision.
Currently, Del Pointe is the only casino project to have obtained such approvals.
“I don’t think states should be giving licenses to every entity that turns out,” he said.
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