Found this off the wire....

Mohawk tribe files for approval of new mega-casino

LOS ANGELES, March 26 (Reuters) - The Indian developers of a planned $500 million mega-casino near New York City that could boost earnings for proposed operator Park Place Entertainment Corp. filed with regulators for approval of the project, Park Place said on Monday.

Las Vegas-based Park Place said the Saint Regis Mohawk Tribe filed an application with the Bureau of Indian Affairs to develop the Las Vegas-style resort and casino about 90 minutes north of New York City in Sullivan County.

The 750-room facility would include 165,000 square feet of gaming space, 15,000 square feet of meeting space, eight restaurants and a spa, making it one of the country's largest casinos.

Analysts believe the facility would generate $50 million to $100 million, or about 10 cents a share, for Park Place's earnings before interest, taxes, depreciation and amortization.

If all goes as planned, the casino could open around 2004 or 2005.

"This is the next step in the process of finalizing their plans to go after what could be a very successful franchise in New York state," said Jeff Logsdon, an analyst at Gerard Klauer Mattison & Co. "This has been talked about for close to a year."

Park Place said it worked closely with the Mohawk tribe in preparing the application. It said it has agreed to develop and manage the casino for an initial term of seven years.

Under the agreement, Park Place will receive 30 percent of the net cash flow from operations after the casino opens.

Park Place also said it signed a consulting agreement to advise the tribe in operating its existing Akwesasne Mohawk casino in Hogansburg, N.Y.