Tioga Downs, a racino based in Nichols, New York, will be redeveloped into a full-fledged casino complex, after all four members of the New York State Gaming Commission approved the transformation unanimously on Tuesday.
The project has become the fourth upstate commercial casino venture to be given the green light by state gambling officials. Apart from horse racing events, Tioga Downs currently features 800 video-lottery terminals. Soon, these are to be replaced with 1,000 slot machines and 50 gaming tables, which will be accommodated in a 35,000-square foot casino.
A 160-room hotel, a number of food and beverage facilities, an outdoor concert venue, and a spa will also be added as part of the $122-million redevelopment project.
Plans about the gambling venue’s expansion were first announced about three years ago. Tioga Downs was among the applicants contending for a license by the New York State Gambling Commission for the operation of a full-scale casino in Upstate New York. Under original plans, four such venues were to be licensed.
However, late in 2014, a specially appointed Gaming Facility Location Board suggested that three casinos in the region would be more than enough and that the construction of more gambling facilities may affect the business in a negative manner. Following the board’s recommendation, the state Gaming Commission awarded three casino licenses.
Quite understandably, the decision was ill-received by Tioga Downs owner Jeff Gural. Eventually, the businessman managed to convince gambling officials to reconsider their decision. A bid for a casino license for the Southern Tier region was opened last year, with Mr. Gural’s property being the only applicant. The license in question was granted yesterday with the full support of New York gambling commissioners.
The real estate developer/Tioga Downs owner told media that the expanded venue will prove to be “a shot in the arm” for a region that is in desperate need of additional revenue. Once the full-scale casino opens doors, it is projected to generate annual tax revenue of $32 million. The money will be distributed to statewide school aid initiatives, the host town, and the host county. Surrounding counties will also receive a share of the revenue provided by the gambling venue.
Construction work is already under way at Tioga Downs and some of the amenities part of the expansion project have already been completed.
