Casino News Source:
http://www.buffalonews.com
Tribal Casino Helps Revive City
SALAMANCA, New York – As reported by the Buffalo News: "The steel frame of an 11-story building rises dramatically at the foot of a steep hill along the Southern Tier Expressway, right next to a new eight-story parking garage that is, for now, the tallest building in Cattaraugus County.
"The structure that will become the permanent home of the Seneca Allegany Casino won't be completed until the end of the year, but casino gambling already has helped pull this city at the edge of Allegany State Park out of a decades-long decline.
"A 48,000-square-foot temporary casino opened two years ago in what will become an entertainment center once the new 64,500-square-foot casino and its 220-room hotel are open.
"While Niagara Falls has been slow in getting its share of profits from the Seneca Nation of Indians' first casino, Salamanca has begun to plan for its casino revenue, the next installment of which is estimated to be in the $4 million to $5 million range.
"…The Seneca Nation said the Allegany casino spent more than $14 million with local vendors and suppliers in its most recent fiscal year.
"The casino generated $143.2 million in net revenue and $34.7 million in net income between September 2004 and 2005, according to nation filings with the federal government, and net gambling revenue for the six months ending March 31 was $69.9 million..."
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