New York Board Gives Preliminary Approval To Casino Proposal In Southern TierTioga Downs To Become A Full-Fledged Casino After $195M Investment |
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New York’s Gaming Facility Location Board last week recommended approval for a Las Vegas-style casino in the state’s Southern Tier region.
The casino is one of four planned under the Empire State’s gambling expansion plans. New York estimated that its residents spend $1 billion each year at out-of-state casinos. The state already has tribal gaming, but commercial casinos were legalized two years ago to help bring in more tax revenue. New York is also considering online poker regulation.
The project in the Southern Tier that was given the green light by the board was a $195 million plan for making Tioga Downs, a racetrack in the town of Nichols, a Las Vegas-style casino. The casino will have 1,000 slot machines and 50 table games.
The project still needs to get the fourth license from the gaming commission.
According to The New York Times, New York has already given the OK to three casino projects: a $750 million casino near Monticello in the Catskills, a $300 million casino in Schenectady and a $425 million casino in the Finger Lakes. The casinos are expected to help struggling local economies.
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