The New York Gaming Commission on August 30 granted the full casino gaming license to the Tioga Downs racino and harness track in Nichols.
Although it is the fourth of four casinos approved in New York, developer Jeff Gural anticipates being the first to open and says it would provide a much-needed economic boost to the local economy.
Gural plans to have 50 table games and 1,000 slots, but the actual numbers won’t be known until state gaming regulators finalize regulations for the Tioga Downs casino and three others. Those final regulations are slated for release in November.
The racino currently has video lottery terminals, but those are to be replaced with slots, upon state approval. The casino also plans a poker room, blackjack, craps, and roulette table games.
If state officials act quickly, Gural says the casino could open as soon as November, with table games and slots. Otherwise, he expects a February opening.
Gural estimates the Tioga Downs casino will generate $32 million in annual tax revenues from gaming, and $25 million of that tally will go toward local education funding.
Gural also says the casino will pay a $20 million licensing fee, which will be shared with local units. He said the local community and county each will get 5 percent of the fee, while the rest is distributed among other local units.
Work on the casino began last year, soon after state regulators approved the location. It was the last of four casino proposals approved by state regulators last year.
The state also granted gaming licenses for three other casino projects in Upstate New York. Those are the del Lago in Tyre, the Rivers in Schenectady, and the Montreign in the Catskills near Monticello.
