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Seneca Tribe Stops Construction of Buffalo Casino
On August 27th, 2008, the Seneca Indian Nation commented that they are stopping the construction of their planned $333 million casino-hotel complex in Buffalo because of the weak economy. The announcement came a day after U.S. district court judge William Skretny reinforced his ruling on that gaming on the Seneca casino is illegal. Seneca Gaming Corporation spokesperson Phil Pantano said that they will appeal the decision of the court but said that it is not the main factor why they have decided to stop the construction of their casino.
An August 14th, 2008 filing before the U.S. Securities and Exchange Commission shows that the Seneca Gaming Corporation, the Seneca Nation's gaming arm was reviewing their constriction projects because of greater demands for available cash, increasing gaming competition and challenging economic condition. Construction also was suspended at the tribe's existing casino and hotel facility in Salamanca, where a $130 million gaming expansion was currently under way.
Pantano commented that the suspension is only temporary but did not say when the construction will resume. The Seneca Tribe, which is from Western New York, has opened three casinos since December 31st, 2002, under an agreement with the state of New York that requires the Seneca Tribe to share a percentage of slot machine profits with the state and host communities. Seneca officials said that the current issue regarding the legality of their gaming operations in Buffalo will not affect that agreement.
The Buffalo casino represents one of the biggest private projects ever undertake in the struggling upstate city and the mayor said that he is looking forward to seeing the casino project up and running again. Mayor Byron Brown said that he still firmly believes that the $333 million project will make 1,000 jobs and will be a great help to Buffalo. But not everyone agrees to this position.
Some casino gaming critics said that the casino will only be a drain to resources and will just worsen the gaming addiction problem in the area.
Sunday, September 14 , 2008
Victor Copeland