Governor Cuomo signs casino bill

Governor Andrew M. Cuomo (D-NY) signed the Upstate NY Gaming Economic Development Act yesterday, a comprehensive new law that, pending approval of a referendum this fall, will establish four destination gaming resorts in Upstate New York aimed at boosting tourism and economic development in communities across the region.

The new law authorizes four upstate destination gaming resorts that will be selected based on the economic development impact of the resort.  The three approved regions for the casinos are the Hudson Valley–Catskill area, the Capital District-Saratoga area, and the Central-Southern Tier area.  One of these areas will hold two casinos while the other areas will get one each.

The State Gaming Commission will oversee regulation of destination gaming resorts and determine the required minimum amount of capital expenditures and license fee required.  The bill also outlines how the state tax revenues will benefit education; Indian gaming zones will stay in place and more.

The bill signing clears the way for a referendum this fall on the issue where voters will consider  the constitutional amendment to expand casinos across the state.

Read a full overview of the legislation on the Governor’s website.

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