Despite being under construction, the new casinos coming to the state of New York are already benefiting the communicates in which they are located. Just yesterday, Governor Andrew Cuomo announced that three casinos located upstate have paid their licensing fees, which totals $151 million. The money will be used for education programs and will be split among the communities in which the venues are located. This will include Schenectady, Sullivan, Seneca County, Tyre and Thompson.
Based on the regulations of the state, 80% of the licensing fee money will go towards education aid statewide. The remaining 20% will go towards twenty counties and three municipalities where the casinos are being constructed.
It was back in 2013 that voters decided to approve a change to the constitution of the state to allow as many as seven casinos to be constructed in the state. According to the state law, the first four had to be located in three specific regions which include the Capital area, Catskills and the Southern Tier/Finger Lakes region.
It has taken some time but now the construction of the first casinos is in full swing. In 2015, the State Gaming Commission issued licensing to casino operators to three facilities, with the fourth facility yet to be signed off.
The licensing fees that were just paid will see Tyre and Seneca County both receiving almost $2.6 million thanks to the location of the del Lago Resort & Casino. $2.4 million will go to Broome County while Tompkins County will be given close to $1.2 million. Lesser amounts will go to Tioga County and Wayne County, who will receive just over $600,000 and $235,000 respectively.
Additional monies will be distributed within the state once the Tioga Downs is given licensing. This should take place before 2016 comes to an end and $20 million will be added to licensing fees already paid.