Revenue Streams Strengthen Oneida County’s Finances
Oneida County Executive Anthony Picente says the county's financial foundation continues to strengthen, thanks to a steady stream of revenue from the Oneida Indian Nation's gaming earnings and sales tax collection.
He says despite reports of New York State casinos falling short of their projected earnings, the Oneida Nation's gaming properties exceeded expectations in 2017 and contributed more than $15 million in gaming revenue to the county.
“While other competing casinos have fallen short of their goals, and so-called experts are decrying an oversaturation of the market, the Oneida Nation’s gaming properties — including the world-class Turning Stone Resort Casino — have continued to enjoy unprecedented success,” Picente said. “The revenue we collect from our agreement has been at or above baseline each quarter, and is right in step with what I budgeted. The strength of our partnership will continue to reap financial benefits for many years to come.”
Picente also says the amount of sales tax collected in 2017 grew by over three-percent.
The county collected nearly $98 million in sales tax revenue last year.