Niagara Gazette — One of the Niagara area’s biggest businesses is now part of the billionaire class.
For the record, as part of the revenue sharing agreement with the state, the Seneca Nation and Gaming Corp. has paid New York more than $1.1 billion in the last 12 years. Seneca Nation President Barry E. Snyder reviewed the totals in a recent report to the nation.
Snyder said that since it opened in 2002, the Seneca Niagara Casino and Hotel has generated $738.5 million in the state exclusivity revenue. Of that total, $184.6 million has been paid to the City of Niagara Falls and related entities including some $18 million in the current quarterly payment.
Snyder added: “The figures clearly show that our Las Vegas-style casino operations had a clear and unmistakable positive impact on the local economy.” At present, the Senecas employ more than 4,000 people at its facilities in Niagara Falls, Buffalo and Salamanca.
Snyder exlained the payment to the state covers the quarter from October to December 2013 for combined slot machine revenue from the three casino properties.
Under the compact, the “host community” receives 25 percent of the state’s share. Since the opening in 2004, the Allegany Casino and Hotel has generated $282 million in state exclusivity revenue with $70.6 million of that paid to the City of Salamanca and Cattaraugus County. Meanwhile, the Seneca Buffalo Creek Casino that opened in 2007 has generated $87.1 million in revenue for the state. Of that total, the City of Buffalo was paid $21.8 million.
IN THE SPOTLIGHT: Country music superstar Trace Adkins will be on stage June 13 at the Seneca Niagara Events Center in Niagara Falls. It’s a show that was rescheduled from March 22.
STEPPING DOWN: Tom Yots, a retired educator and former city historian for Niagara Falls, plans to leave his post as executive director of Preservation Buffalo Niagara. He was named to the position in 2012.