VERNON, N.Y. (WSYR-TV) - Both the Assembly and Senate have passed legislation that provides a relief package to the Vernon Downs racino.
The Racino had threatened to close by the end of the year, saying it could not compete with casinos like del Lago and the Yellow Brick Road without tax breaks.
State lawmakers are giving Vernon Downs a 7.5 percent cut in its tax rate.
The owner is promising to keep it open at least another five years, saving 300 jobs.
Vernon Downs says it was losing $150,000 a month before the tax break.
“I wish to applaud the action taken by Governor Cuomo, Speaker Heastie, Senator Klein, and Majority Leader Flanagan to ensure the continued viability of Vernon Downs,” said Jeff Gural, the chairman of American Racing and Entertainment. “On behalf of our 300 employees, their families and the surrounding ancillary businesses impacted by this legislation, you have our heartfelt thank you.”
The bill now heads to Gov. Andrew Cuomo’s desk. He has vowed to sign the bill into law.
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