New York Gov. Andrew Cuomo today announced an agreement between the state and the Oneida Indian Nation that will have the Nation paying the state an estimated $50 million a year in Turning Stone Resort & Casino revenue in return for a guarantee that no other casinos are built in Central New York.
The agreement “paves the way to end decades of litigation and controversy over tax, over land, and gaming issues,” Cuomo said in today’s news conference.
The agreement includes rights to tribal regional-gaming exclusivity and revenue sharing, settles the land claims against Oneida and Madison counties, and ends the “unfair competition,” Cuomo said.
(Sponsored)
“They are family. They would never do that!” Our guard comes down as it is hard to imagine a family member capable of business fraud. Unfortunately, that is when the
Keeping Your Firm Secure on the Road to Digitization
By Dan Hernborg Sales Engineer With the looming threat of a potential recession and economic downturn, many professional service firms are looking to reduce costs and increase efficiency in preparation.
The Oneida Nation doesn’t currently collect sales tax on sales made to non-Indians, and the lack of a tax collection has created a competitive disadvantage for the non-Indian retailers, according to Cuomo.
Under its current agreement with the state, the Oneida Nation doesn’t have exclusivity for Turning Stone in the region and is not required to make payments to the state and localities.
Under the new deal announced today, the Oneida Nation would obtain exclusive gaming rights in Central New York, and will, in turn, pay 25 percent of the net gaming revenue from its slot-machine games to the state government.
“Initial estimates put that amount of revenue at approximately $50 million per year for the state of New York,” Cuomo said at the news conference.
The agreement is similar to deals struck with the Seneca and Mohawk nations in other areas of the state, Cuomo said.
The agreement comes as New York pursues a plan to place additional casinos Upstate to generate more revenue for the state coffers. The 10-county region covering Central New York will no longer be part of that bidding process, the governor said.
Under the deal, New York will provide Oneida County — where the Turning Stone Resort Casino is located — with a 25 percent cut of the slot revenue. Initial estimates are for this payment to total $12.5 million a year, according to Cuomo. New York will also provide that county with an additional $2.5 million annual payment.
Madison County will receive a one-time payment of $11 million to compensate it for past tax claims, according to the governor. The state will also make a $3.5 million annual payment to Madison County from the state’s share of the casino revenue.
Oneida County Executive Anthony Picente, Oneida Nation Representative Ray Halbritter, and Madison County Board of Supervisors Chairman John Becker joined the governor for today’s announcement.
The deal announced today is subject to approval of the New York Legislature as well as the Oneida County and Madison County legislatures.
Contact Reinhardt at ereinhardt@cnybj.com
