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Legislation

NY bill introduced to require comptroller review of tribal-state compacts

Wednesday 07 de June 2023 / 12:00

2 minutos de lectura

(New York).- Senator George Borrello has introduced legislation that would authorize the New York State Comptroller to review any tribal-state compact and recommend approval or needed changes.

NY bill introduced to require comptroller review of tribal-state compacts

Senator Borrello cited the need for this change by pointing to current negotiations between the Seneca Nation and the Hochul administration. He noted that, although the Governor has recused herself from compact negotiations because of the conflict of interest presented by her husband’s position with a company in competition with the Seneca Nation, she is still the only official that can approve the contract.

“The partnership between the Seneca Nation and New York’s Executive Branch has been strained for several years, largely over disagreements concerning revenue from Seneca casinos,” said Senator Borrello. “Those tensions, combined with the Governor’s institutional role in the process which makes full recusal difficult, underscore the importance of a full and impartial review by the State Comptroller. There is too much at stake, not only for the Senecas but for the state, to allow the process to be compromised by politics and conflict. This is a common-sense proposal that would improve the process and help ensure a fair outcome.”

The original Seneca Nation Compact was authorized in 2002. The agreement cleared the way for the development of three Seneca casinos in western New York. The Seneca Niagara Casino opened in 2002, followed by the Salamanca location in 2004 and the Buffalo location in 2007. Terms of the compact included the Seneca Nation paying 25 percent, which is approximately $100 million a year, of the slot and video lottery machine revenues to the state, with a portion of that directed to each casino’s host city. In return, the compact grants the Nation exclusive rights to operate Class III casinos in western New York.

The casinos and their related businesses have an estimated $1 billion annual economic impact on western New York and provide more than 6,000 jobs.

“The Seneca Nation territories and residents are within the 57th District, which makes this issue a priority for me,” said Borrello. “They are friends and neighbors to me and other district residents, so the delays and challenges they are encountering in the negotiating process are a significant concern. Their world-class gaming facilities have transformed the economy of western New York and they have been good partners to the state. They deserve a fair and equitable compact and my bill would help advance that goal.”

Categoría:Legislation

Tags: Sin tags

País: United States

Región: North America

Event

SBC SUMMIT RIO 2024

05 de March 2024

Andre Gelfi explains the new regulation in the Brazilian gaming and betting market

(Rio de Janeiro, SoloAzar Exclusive).- The Managing Partner of Betsson group in Brazil, Andre Gelfi, was another key figure present at the inaugural SBC Summit Rio. In this exclusive interview with SoloAzar, he shared insights about the gaming and betting market in Brazil. Gelfi emphasized the hot topic of Brazilian regulations for the iGaming industry. In fact, he expressed his anticipation that the regulation, expected to be approved this year, will create a new landscape in the Brazilian market

Wednesday 27 Mar 2024 / 12:00

Influencers: "Between Effectiveness and Responsibility in the Gaming Industry".

(Rio de Janeiro, SoloAzar Exclusive) - As part of the Conference "Influencers: The Next Frontier of Social Media Marketing", as part of the Conference Agenda held on 6 and 7 March at the SBC Summit Rio 2024, leading industry personalities gathered in a panel to discuss the impact of the power of celebrities and influencers in generating engagement, as well as the proposed law that seeks to restrict their promotion of gambling.

Wednesday 27 Mar 2024 / 12:00

Pay4Fun: “We have ambitious expansion plans in the Brazilian market”

(Rio de Janeiro, SoloAzar Exclusive).- Leonardo Baptista, CEO and co-founder of Pay4Fun, is a key figure in the world of iGaming. His company, Pay4Fun, is a leading Brazilian online payment provider specializing in the iGaming market. During the first edition of the SBC Summit Rio, Baptista spoke exclusively with Soloazar, sharing insights about the new services that Pay4Fun will introduce to the market. He also discussed his vision for the future of iGaming in Brazil and Latin America. Another unmissable note by SoloAzar.

Wednesday 27 Mar 2024 / 12:00

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