NY county gaming share smaller than expected

21 Feb 2008

LITTLE VALLEY, New York -- As reported by the Buffalo News: "County lawmakers learned Wednesday that only $548,506 — less than half the hoped-for share of the 2006 Seneca gambling proceeds — will reach the county under a six-month distribution formula earmarked for economic development.

"In December, the county's Economic Development, Planning and Tourism Department director, working with the members of the Legislature's Development and Agriculture Committee, drafted an ambitious $1.3 million spending plan that was later revised downward during the Empire State Development's approval process.

"The larger figure was based on unofficial estimates that the county's share might be larger than the $635,000 economic development share of the casino's 2005 proceeds that were received by the county in 2007.

"...As a result, the county scaled back the $800,000 amount penciled in for a new economic development funding mechanism in the plan.

"...The State of New York receives most of the fees realized from the Seneca Niagara and Seneca Allegany Casinos' slot machine revenues.

"...Cattaraugus County, the City of Salamanca and the Salamanca School District receive a 25 percent share of the state distribution..."

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	NY county gaming share smaller than expected 21 Feb 2008 <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> LITTLE VALLEY, New York -- As reported by the Buffalo News: "County lawmakers learned Wednesday that only $548,506 — less than half the hoped-for share of the 2006 Seneca gambling proceeds — will reach the county under a six-month distribution formula earmarked for economic development. "In December, the county's Economic Development, Planning and Tourism Department director, working with the members of the Legislature's Development and Agriculture Committee, drafted an ambitious $1.3 million spending plan that was later revised downward during the Empire State Development's approval process. "The larger figure was based on unofficial estimates that the county's share might be larger than the $635,000 economic development share of the casino's 2005 proceeds that were received by the county in 2007. "...As a result, the county scaled back the $800,000 amount penciled in for a new economic development funding mechanism in the plan. "...The State of New York receives most of the fees realized from the Seneca Niagara and Seneca Allegany Casinos' slot machine revenues. "...Cattaraugus County, the City of Salamanca and the Salamanca School District receive a 25 percent share of the state distribution..."

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NY county gaming share smaller than expected