The three casinos that were licensed by the New York State Gaming Commission last year and are currently built in Upstate New York have paid the total amount of $151 million in licensing fees. The money is to be contributed to education initiatives around New York as well as to the communities that are to host the three hotel and casino complexes.
The venues are currently under construction. They are to be located in Tyre, Seneca County, Schenectady, Schenectady County, and Thompson, Sullivan County.
New York State Governor Andrew Cuomo said on Tuesday that 80% of the licensing fees paid will be spent on statewide education aid initiatives. The rest of the money will enter the coffers of the three host municipalities as well as those of host and surrounding counties. Gov. Cuomo said that local authorities will thus be able to provide residents with important services and to reduce current tax burden.
In 2013, New York State residents voted in favor of a proposal that called for the construction of up to seven upstate casino resorts. Under the proposed constitutional amendment, the first four venues of the bundle were to be built in the Capital, Finger Lakes/Southern Tier, and Catskills regions.
Late in 2014, the New York State Gaming Facility Location Board recommended that three casino projects be licensed by the Commission. Almost a year later, the state gambling regulator granted licenses to the del Lago Resort & Casino, Montreign Resort Casino, and River Casino & Resort projects.
Being the host municipality for del Lago, Tyre would get the amount of $2.6 million of the entire licensing fee paid by casino owners. Seneca County will also be contributed $2.6 million. The resort is slated to open doors next year.
Thompson and Sullivan County will receive almost $2.6 million each from Montreign Resort Casino. The $1-billion hotel and casino complex is to be launched in 2018.
Last year, the Gaming Facility Location Board gave the green light to another casino project for the Southern Tier region. The existing Tioga Downs racino is to be expanded into a full-scale gambling venue. The project is expected to be granted a license for the purpose later this year.
