Gaming News

New York tribal casino deal reached

ALBANY, New York – As reported by the Albany Times Herald-Record: "Gov. Eliot Spitzer and the St. Regis Mohawks have reached a deal to bring a $600 million Indian casino to Monticello Gaming and Raceway.

"The deal, which Spitzer announced in an interview this afternoon with the Times Herald-Record, marks a historic high water mark in Sullivan County's decades-long pursuit of casino gambling.

"…Under the compact, the state would receive 20 percent of slot-machine revenues for the first two years after it opens, 23 percent for the next two years and 25 percent thereafter.

"The tribe has also agreed to comply with health and labor laws and charge state taxes on alcohol and cigarettes.

"…The casino will also likely face a number of court challenges.

"…But Spitzer's quick pact with the Mohawks just six weeks after taking office sends a sign to both the federal government and opponents that the state is fully behind the casino plan…"

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