New York changes revenue share with new casinos

A Buffalo news paper has reported that the state of New York is in no hurry to be more generous with Buffalo and Erie County when sharing future slot machine revenues once the Seneca Nation of Indians builds a downtown casino. Online slots players feel that this is another reason that states should legalize casino games everywhere - they obviously want to make more money - right?

It is being said that many city and county officials see a casinos and casino games - like slots,  as a source of new and easy earnings. It is also being said that these same officials believe the state should take less of its expected slot machine take and give more to the local governments.

The main issue is a clause already fought for over four years ago when Gov. Pataki and other state lawmakers agreed to legislation allowing the Senecas to open 3 new casinos in the western part New York. The clause states the Senecas have to pay the state, after a phase-in period, one quarter of yearly slot machine earnings.

The 2001 law also requires the state to give local 'host communities' on quarter of the earnings the city of Albany takes in from the tribe, so local governments, on a sliding scale over a certain amount of time, would be entitled to at least 6.25% of the overall slot machine earnings.