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Study: Salamanca Stands to Gain From Casino23 August 2004SALAMANCA, New York-- As reported by the Times Herald: "The Seneca Allegany Casino will bring in between $133 million to $178 million in slot machine revenue in its first full year of operation, according to a casino impact study funded by the city of Salamanca. "In an agreement with the Senecas, New York state would receive between $24 million to $32 million of that money. The state would then hand over 15 percent, or between $3.6 million to $4.8 million, of its take to be split by the county, city and school district. "The city of Salamanca alone expects to spend $9.4 million in casino-related expenditures by budget year 2005-06. Most of that money would go to the department of public works ($3.5 million), fire department ($2.3 million) and the board of public utilities (2.9 million). That clearly presents a problem, says Rod Hensel, author of the study. "In his 58-page, city-funded study, Mr. Hensel paints a promising picture of what Salamanca and the surrounding area could become as a result of the casino, including job growth. But he warns the city must begin making smart decisions now to combat one of the downsides, which is erosion of the tax base…" |