Tioga Downs Owner May Shut Down Casino Temporarily

"Basically, we've decided it doesn't make sense to keep paying the state $100,000 a day."

Pennsylvania is ready to make a splash into the casino gambling market. Atlantic City already is a tough rival in the casino business. Tioga Downs in New York may not be able to keep up.

The owner of the racetrack and casino has offered the idea that unless pending legislation is passed, he might have to close his doors. Tioga Downs is the establishment in question. Unless the tax rate to the government is cut, they may be forced to close down.

The Chairman of American Racing, Jeff Gural has said publicly that if the pending legislation is not passed, he will shut down as of the new year. He has indicated that while he will shut down, the move will be temporary until the legislation is passed.

"Basically, we've decided it doesn't make sense to keep paying the state $100,000 a day," Gural claims.

He went into detail about the percentages and the unfair rate that is being payed.

"Essentially, we only keep thirty percent of the revenue. In Atlantic City, the casino operator keeps ninety two percent of the revenue. And in Pennsylvania, the casino operator keeps forty five percent of the revenue."

The state Senator, Tom Libous has proposed legislation to allow casinos to keep an extra ten percent of revenue. He is waiting on the Assembly to pass the bill.