On May 20th, 2009, the Seneca Indian Tribe states that their plans to build a brand new casino in the Catskills area does not mean that they are shelving plans for a Buffalo Creek casino facility. President Barry Snyder said that the two projects are different from one another because they are located in different areas.
Aside from that, the difference between the Catskills and Buffalo casino is that in the Catskill, the Seneca tribe would just be one of the players and not the main draw. Snyder said that there are only three casinos permitted by the state legislature and they are just applying for the opportunity to operate one of these casinos. The tribe's main concern is the interest of borrowing money and the current economic condition. The tribe stated that they have a $500 million loan and bond for the project.
Seneca's President said that they hope that the casino project might be eligible for federal stimulus money. He states that the money cannot be allotted to the casino project but could be utilized for hotel construction. There have been no recent negotiations with Governor David Paterson regarding the taxation of the project.
06/04/2009 20:48 PM