Andrew Cuomo signs act to establish four Upstate casinos

Governor Andrew Cuomo signed the Upstate New York Gaming Economic Development Act, which would allow four upstate New York casinos and create exclusivity agreements for Indian casinos.

Voters will have the final say this fall on a referendum that would open the way for up to seven non-Indian casinos statewide over several years.

10% of tax revenues would be used by local governments, 10% would go to other counties in the region, and 80% would go towards schools.

The agreement will allow Las Vegas-style resort casinos in the Southern Tier near Binghamton, the Hudson Valley-Catskills area and the Albany area.

"This new law will bring the state one step closer to establishing world-class destination gaming resorts that will attract tourists to Upstate New York and support thousands of good paying jobs as well as new revenue for local businesses," said Cuomo.