Subscriber login

News
What you need to know for 03/30/2017

$10M of casino fee distributed to Capital Region

Casino

$10M of casino fee distributed to Capital Region

The Capital Region received $10 million from Rush Street Gaming’s state licensing fee for the future
$10M of casino fee distributed to Capital Region
Rivers Casino & Resort at Mohawk Harbor interior construction in May 2016.
Photographer: Marc Schultz

The Capital Region received $10 million from Rush Street Gaming’s state licensing fee for the future Rivers Casino and Resort at Mohawk Harbor in Schenectady.

The Chicago casino operator was required to pay $50 million for a license with the state Gaming Commission for the Schenectady casino. The city of Schenectady and Schenectady County both received $2.5 million of that fee.

Other counties in the region also shared 10 percent of the revenue, totaling $5 million. Albany County got about $1.7 million, Saratoga County received $1.2 million and Rensselaer County got $900,000.

Also, Washington County received $357,000 with $313,000 for Fulton County, $283,000 for Montgomery County and $185,000 for Schoharie County.

The remaining $40 million will be distributed to public schools statewide as part of the state’s education formula, according to a press release from the governor’s office on Tuesday.

In total, 22 counties and three municipalities across upstate New York received $30.2 million in license fees paid by casino operators in Schenectady along with the Montreign Resort Casino in Thompson, Sullivan County and the del Lago Resort & Casino in Tyre, Seneca County.

As outlined in the Upstate New York Gaming and Economic Development Act, 80 percent of the $50 million license fee is for school aid and property tax relief, 10 percent is split between the host municipality and county and the other 10 percent is for other counties in the region.

The Rivers Casino and Resort at Mohawk Harbor is now under construction at the Mohawk Harbor site off Erie Boulevard and is expected to open in March. It is projected to provide $4.1 million in gaming revenues to both the city and the county and $2 million to the Schenectady City School District.

View Comments
Hide Comments
You have 0 articles 1 articles 2 articles 3 articles 4 articles 5 articles 6 articles 7 articles remaining of Daily Gazette free premium content.

You have reached your monthly premium content limit.

Continue to enjoy Daily Gazette premium content by becoming a subscriber.
Already a subscriber? Log In