The world's largest gaming company and a Native American tribe have applied with federal authorities to build a casino in the Catskills.

Park Place Entertainment Corp. announced March 26 that the Saint Regis Mohawk Tribe filed an application with the Bureau of Indian Affairs for approval of the acceptance of land into trust for the development of a $500 million Las Vegas-style resort and casino approximately 90 minutes north of New York City in Sullivan County.

The 750-room resort will include 165,000 square feet of gaming space, 15,000 square feet of meeting space, 8 restaurants and a spa.

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

Park Place worked closely with the tribe in the preparation of the application and has entered into a letter of agreement to develop and manage the casino for an initial term of 7 years.

Pursuant to this agreement, Park Place will receive 30% of the net cash flow from operations, commencing with the opening of the casino.

Park Place has also signed a consulting agreement to advise the tribe in operating its existing Akwesasne Mohawk casino in Hogansburg, NY.

Park Place and the tribe believe the development will be one of the top casino resorts in the country serving the vast population base of New York and the surrounding areas.

Both Park Place and the Tribe are working closely with the federal, state and local authorities in securing all the necessary regulatory approvals.

Park Place Entertainment owns, manages or has an interest in 28 gaming properties operating under the Bally's, Caesars, Paris, Flamingo, Grand and Hilton brand names with a total of approximately 2 million square feet of gaming space, more than 28,000 hotel rooms and approximately 57,000 employees worldwide. 릴게임