Sports Betting
The Seneca Nation casinos will help provide financial relief in New York
Zach Wolpin is an NBA and NFL expert who's been betting on the league for over three years now. Wolpin is a fan of the NFL and NBA and has been watching for a decade and a half. He covers the latest news and stories surrounding the league daily. His passion in life is sports and being able to share that through his writing. He has written about the NBA and other sports leagues through various media outlets over the years like Sir Charles In Charge, G-Men HQ, and TAP into South Plainfield. Before he became a Sports Editor, Wolpin attended Montclair State University where he graduated in 2021. He studied Sports Media and Writing while in school.
Get to know Zach Wolpin betterPublished2 hours ago on October 15, 2024
Three Western New York cities are on the verge of receiving much-needed financial relief. They include Buffalo, Niagara Falls, and Salamanca. The Seneca Nation casinos are the help these cities will be getting. In December, the three cities’ gaming contracts expired with New York. Since then, they haven’t received money from revenue sharing in the state.
While they’ve been trying to negotiate a new deal, the Senecas have been putting 25% of the “net slop drop” into an escrow account. They are doing this rather than paying New York directly. Governor Kathy Hochul announced that these cities will be advanced money by the state. She noted they should have the money by the end of this month by did not specify how much they would be receiving.
Where does slot revenue in New York come into play?
In their expired compact, New York State was supposed to get 25% of the money from slot machines. However, Seneca Nation has been putting that 25% into an escrow account. Government officials in Buffalo, Niagara Falls, and Salamanca have not received their share of revenue. All three cities host a casino in Seneca. The Seneca Nation and New York State have been trying to negotiate since June 2023.
They’ve negotiated for a while now without actually reaching any sort of deal at all. At the end of 2023, they decided to extend the terms of the existing compact. With the revenue for Western NY casino set in place, that gives more time for both sides to negotiate a new long-term deal.
The communities of Buffalo, Niagara Falls, and Salamanca were caught in the gaming conflict between New York and the Senecas. In 2017, the tribe stopped making payments. An agreement in 2002 said the tribe had exclusive rights to run casinos in Buffalo, Niagara Falls, and Salamanca. This was in return for 25% of the slot machine profits.
Buffalo needs the funds the most of out the three Western NY cities
In 2024, Buffalo’s budget is short by $10-$15 million. Buffalo relies on speculative income, such as state money from the Seneca casinos. The city created a backup plan if funds were expected to fall short. Now that Buffalo is on the verge of much-needed financial relief, they shouldn’t need their backup plan anymore. The three Western NY cities should see plenty of revenue.
