Niagara Gazette

Local News

July 31, 2013

Cuomo expected to sign over Falls' casino cash at Wednesday morning event

(Continued)

Niagara Gazette — Other aspects of the new law include:

• Authorization of up to four upstate destination gaming resorts to be selected competitively based on the economic development of each. Destination resorts are authorized for three regions - the Hudson Valley - Catskills area, the Capital District-Saratoga area and the Central-Southern Tier. No resorts will be authorized in New York City, Westchester, Rockland or Long Island. There will be a seven-year exclusivity period during which no further resorts will be licensed in the state.

• Regulation and Selection. The New York State Gaming Commission will oversee regulation of the gaming resorts and will determine the required minimum amount of capital expenditures and license fee required for applicants in each region.

• Benefits from increases in education aid. Ten percent of the state’s tax revenue in gaming resort areas will be split equally between the host municipality and the host county, with another 10 percent of the state’s share going to other counties in the regions to provide tax relief or educational assistance. Cuomo’s office said 80 percent of the state’s tax revenue will be used statewide for elementary and secondary education or property tax relief. The educational aid will be additive and not part of the state’s existing education aid formula.

• Problem gambling initiatives. Funds will be set aside for programs to assist individuals with gambling problems through the imposition of a $500 annual fee on all slot machines and table games. All destination gaming resorts will be required to develop “comprehensive problem gambling programs.”

• Preventing corruption. A state gaming inspector general’s position will be authorized to prevent corruption at the Gaming Commission.

The Associated Press contributed to this story.

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