SEARCH NEWS:

 

New York Won't Share in Slot Revenues

ALBANY, New York – As reported by the Buffalo News: "The state is in no rush to be more generous with Buffalo and Erie County when sharing future slot machine revenues once the Seneca Nation of Indians builds a downtown casino.

"Several city and county officials see a casino as a source of new and easy money. They believe the state should take less of its expected slot machine take and give more to the local governments.

"The city and county shouldn't start counting the cash quite yet.

"…At issue is a clause already fought over in 2001 when Pataki and state lawmakers agreed to legislation permitting the Senecas to open three casinos in Western New York. It calls on the Senecas to pay the state, after a phase-in period, 25 percent of annual slot machine revenues..

"The 2001 law also requires the state to give local 'host communities' 25 percent of the revenues Albany takes in from the Senecas, meaning local governments, on a sliding scale over time, would be entitled to at least 6.25 percent of the overall slot machine revenues…"

< Gaming News