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Regulators license 3 new casinos for upstate New York
Posted On Dec 21 2015
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The Gaming Commission’s five members unanimously approved each without comment, concluding that principals and associates cleared criminal background checks and the applicants met environmental, legal and financial requirements.
The three casinos are Montreign Resort Casino in the Catskills, Rivers Casino in Schenectady and Lago Resort and Casino in the Finger Lakes.
Lago Resort & Casino is slated to open during the first half of 2017, its partners said Monday, following the announcement that the New York State Gaming Commission has issued a gaming license for the $425 million project in Tyre, Seneca County.
Although some preliminary work has been done, Lago’s developer Wilmorite can not proceed with construction and financing without a casino license. They expect to be operating within the next two years.
The Oneida Indian Nation, which operates Turning Stone Resort Casino about 65 miles to the east in Verona, said that Monday’s decision was flawed and that most Lago revenue “will be cannibalized” from existing casinos.
Monday’s meeting is scheduled for 2 p.m.in New York City. Some concerns regarding the time it took for finalization of the licenses have been expressed by some local officials. That sentiment was reiterated in a letter this week written by the commission’s executive director Robert Williams, who assured a Catskills county official who wanted to know the reason for the delay.
Tioga Downs racino in Nichols, Tioga County, is still awaiting a casino license after being recommended for one in October. “We could not be more excited to be part of the economic resurgence of this lovely region in upstate NY that we call home”. He reiterated the casino’s benefits for Seneca County and the Finger Lakes region – it will create 1,800 construction jobs and 1,800 permanent jobs once it’s open for business. The plaintiffs claim the town board did the bidding of casino developers by failing to properly scrutinize how the large development would affect the local environment.
